In 2025, Nigeria earned approximately N55.5tn from crude oil sales, according to NUPRC and CBN data. This figure surpasses the N50.88tn generated in 2024, showing steady revenue growth. Nigeria produced 530.41 million barrels of crude oil in 2025, though output fluctuated due to outages and operational disruptions. Production began strongly at 47.70 million barrels in January but dipped to 41.02 million barrels in February. Output rebounded modestly in March and April, stabilising in the second quarter at around 45 million barrels monthly.
In the third quarter, crude output rose to 46.73 million barrels in July but fell in August and September. Production recovered in the final quarter, closing December at 44.08 million barrels. While output remained below Nigeria’s OPEC quota for most months, crude prices supported revenue. Bonny Light traded at an average of $72.08 per barrel, boosting gross revenue to $38.23bn or N55.5tn at N1,450 per dollar.
Experts note that insecurity, policy gaps, and pipeline vandalisation continue to limit production. Economic analysts stress the need for stronger governance, improved fiscal terms, and investor confidence. They highlight that strategic investments, including Shell’s projects and indigenous producer participation, could increase production. Addressing these challenges is essential for meeting 2026 oil targets and sustaining revenue growth.
Nigeria’s crude sector remains critical to national finances, with production stability and pricing directly influencing economic performance.
