Nigeria Earns N24tn from Crude Exports in Six Months

Nigeria's crude oil exports earned an estimated N24.02 trillion in the first half of 2026, as international oil prices surged.

The country exported about 182.2 million barrels of crude oil during this period, with a total value of $17.60 billion at an exchange rate of N1,365 to the United States dollar.

A breakdown of the data shows that production and export volumes followed a similar pattern throughout the six months, with January seeing 45.26 million barrels produced and 31.31 million barrels exported, while June saw 46.80 million barrels produced and 33.30 million barrels exported.

The increase in export earnings was largely driven by stronger international crude prices rather than higher export volumes, which averaged around 1.11 million barrels per day in June.