Nigeria's Oil Production Hits Six-Year High

Nigeria's oil production reached its highest level since 2021 in the second quarter of 2026, exceeding 1.72 million barrels per day.

This represents a significant increase from the low point of 1.61 million barrels per day recorded in Q2 2021, and marks a turning point for the country's oil sector after years of production setbacks.

The improved performance is attributed to ongoing infrastructure development and the introduction of floating LNG, which has boosted efficiency by adding processing at the site of extraction.

The government aims to reach an ambitious target of 3 million barrels per day, but experts warn that this goal remains distant due to persistent infrastructure constraints.