Nigeria’s Oil Output Falls Short of OPEC Quota for Six Months   Nigeria failed to meet its crude oil production quota of 1.5 million barrels per day approved by the Organisation of the Petroleum Exporting Countries (OPEC) in the first month of 2026, extending its streak...

Despite Nigeria producing over 443 million barrels of crude between January and October 2025, local refiners continue to face shortages as most of the output is exported.

Nigeria exported 33.23 million barrels of crude oil to the United States between January and August 2025, valued at $2.57 billion, making it Africa's largest exporter of crude oil to the US.

The African Refiners and Distributors Association (ARDA) say the continent’s crude oil consumption will rise from about 1.8 million barrels per day (bpd) in 2024 to 4.5 million bpd by 2050.

Dangote Gets Second Shipment of Ghana Crude Oil   The Dangote Petroleum Refinery has taken delivery of its second-ever crude cargo from Ghana, a move that coincides with a sharp reduction in its purchases from Europe as the plant adjusts its slate ahead of major maintenance. Industry...

Nigeria’s gross profit from crude oil and gas sales plunged by N824.66bn in 2024 despite a rebound in oil production.