Nigeria’s crude oil production has risen to about 1.8 million barrels per day (mbpd), prompting local refiners and organised labour to renew calls for increased crude supply to domestic refineries and lower fuel prices.
Oil Reserves Decline as Gas Resources Rise in 2026
Nigeria’s oil reserves recorded a marginal decline in 2026, while gas resources expanded, reflecting a gradual shift in the country’s hydrocarbon profile amid sustained production and discoveries.
The Nigerian Upstream Petroleum Regulatory Commission disclosed this on Wednesday...
Nigeria produced 2.71 trillion standard cubic feet (scf) of gas in 2025, with exports accounting for nearly 35% of total output, according to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
FG Rakes in ₦55.5tn from Crude Oil Sales in 2025
Nigeria earned an average of N55.5tn from crude oil sales in 2025, an analysis of official production figures released by the Nigerian Upstream Petroleum Regulatory Commission and crude price data published by the Central Bank...
NUPRC Opens 50 Oil, Gas Blocks for Bidding
The Nigerian Upstream Petroleum Regulatory Commission has opened 50 oil and gas blocks across five sedimentary basins for bidding and exploration in the 2025 licensing round, warning that only technically competent and financially strong firms will be...
FG Ends Signature Bonus Refunds Under Ongoing Oil Sector Reforms
The Federal Government has warned prospective investors in the 2025 oil licensing round that any errors, miscalculations, or disappointments arising from the bidding process will be borne entirely by the companies involved, stressing that there...
