Nigeria's Oil Rig Count Surges 20% Amid Upstream Revival

Nigeria's oil rig count has surged by 20% in the first seven months of 2026, signaling a rebound in drilling activity and crude production. The country's oil output averaged 1.45 million barrels per day in the first quarter, climbing to 1.55 million barrels per day in the second quarter.

Data from the Organization of the Petroleum Exporting Countries (OPEC) showed that Nigeria added three rigs to its count in July, bringing the total number of active rigs to 18. This marks a gradual recovery in upstream activity after a sluggish 2025, when Nigeria averaged just 13 rigs for the year.

Aisha Mohammed, an energy analyst at the Lagos-based Center for Development Studies, noted that the July numbers mark the third straight month above the 1.5 million OPEC quota. Output dipped 4 percent from June due to problems at Erha and Akpo fields, but the country still cleared the ceiling.