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Commodities

Oil Earnings Drop as Nigeria Grapples with Global Price Volatility

Guavy AI Editorial Team
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Oil
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Nigeria's crude oil export earnings declined by 14.4% to $31.54 billion in 2025, despite recording higher crude oil production during the year.

Data from the Central Bank of Nigeria's (CBN) 2025 Balance of Payments (BoP) Report showed that crude oil export receipts declined from $36.85 billion in 2024 to $31.54 billion in 2025, even as crude production rose significantly over the period.

The increase in production failed to translate into higher export earnings due to pipeline outages, operational disruptions, and production losses, which prevented Nigeria from consistently meeting the Organization of the Petroleum Exporting Countries (OPEC) production quota.

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