Nigeria Oil Production Statistics

GITNUXREPORT 2026

Nigeria Oil Production Statistics

Nigeria is still producing around 1.62 million bpd on average in April 2024 while importing about 180,000 bpd of refined products in 2023, a mismatch that exposes how capacity gaps and security shocks shape daily supply. You will also see what Chevron’s 2023 output implies for investment, how oil theft can erase hundreds of thousands of bpd at the worst moments, and why crude oil dependence runs through everything from export earnings to government revenue.

30 statistics30 sources11 sections8 min readUpdated 10 days ago

Key Statistics

Statistic 1

Nigeria imported about 180,000 bpd of refined petroleum products in 2023 (EIA estimate)

Statistic 2

Nigeria’s power generation from natural gas is the dominant source; gas-fired power accounted for about 80% of generation in recent years (International Energy Agency data cited in Nigeria energy profiles)

Statistic 3

Nigeria produced an average of 1.40 million bpd in July 2024 according to OPEC’s monthly oil market report dataset

Statistic 4

1.62 million bpd average Nigerian oil production in April 2024, which is the highest month in 2024 shown in OPEC’s monthly dataset for Nigeria

Statistic 5

1.48 million bpd average Nigerian oil production in October 2023, per OPEC’s monthly oil market report country data series

Statistic 6

Bonny Light is commonly cited at around 37–38° API gravity and ~0.15% sulfur (Energy Institute data used in Statistical Review technical appendix)

Statistic 7

Chevron reported production of about 100,000 bpd of oil equivalent in Nigeria in 2023 (Chevron Upstream 2023 operations disclosure)

Statistic 8

Nigeria’s OPEC quota (Member Target) has been set at 1.5 million bpd (OPEC member quotas, Nigeria)

Statistic 9

Nigeria is categorized as a ‘crude oil producer’ with OPEC basket benchmarks including Bonny Light (OPEC basket definition)

Statistic 10

About 99% of Nigeria’s exports were crude oil and condensate in 2022 (OPEC Annual Statistical Bulletin 2023, exports by commodity share)

Statistic 11

Nigeria’s foreign exchange earnings from crude oil exports were about $40+ billion in 2022 (World Bank/WITS trade values for crude petroleum oils)

Statistic 12

Nigeria’s oil sector contributed about 9% of GDP in 2022 (World Bank economic data summary for Oil & Gas value added share; government/IMF reporting)

Statistic 13

Nigeria received $4.0 billion in 2022 foreign direct investment (FDI) inflows, with hydrocarbons among the key sectors (UNCTAD World Investment Report country data)

Statistic 14

Nigeria’s oil and gas attracted about $2.0–$3.0 billion annually in upstream FDI around 2019–2021 (World Bank/UNCTAD sectoral FDI discussion)

Statistic 15

Nigeria’s oil theft and pipeline vandalism incidents led to estimated supply losses of hundreds of thousands of bpd at various times; one widely cited estimate is about 200,000 bpd lost at peak disruption (IEA report on energy security; cited in multiple assessments)

Statistic 16

Nigeria’s OPEC ‘oil production outages’ caused by force majeure and disruptions have at times reduced output by more than 1/10 of capacity; an example documented is reductions of ~400,000 bpd during 2022 disruptions (OPEC press and MOMR outage context)

Statistic 17

Nigeria’s crude oil and condensate exports averaged 1.25 million bpd in 2022, indicating the scale of net oil export volumes

Statistic 18

Nigeria’s crude oil and condensate exports averaged 1.23 million bpd in 2021, indicating comparable export scale to 2022

Statistic 19

Nigeria’s crude oil production allocated to export streams is reported at about 1.0 million bpd in 2023 in S&P Global Commodity Insights’ country coverage notes (export-focused stream volumes for Nigeria)

Statistic 20

Nigeria’s refinery throughput was about 170,000 bpd in 2023 (refining volumes at key domestic plants), reflecting limited domestic refining capacity versus production

Statistic 21

Nigeria’s Dangote refinery is described as having a 650,000 bpd nameplate capacity in industry coverage, representing the intended domestic refining expansion

Statistic 22

In 2023, Nigeria’s natural gas production was about 40 billion cubic meters (bcm), indicating the scale of the domestic gas resource base associated with power generation

Statistic 23

Nigeria’s natural gas proven reserves were about 200 trillion cubic feet (Tcf), indicating the long-run supply potential for gas-linked oil and power systems

Statistic 24

Nigeria’s oil sector tax/royalty take is quantified as 59.7% of upstream government take in 2022 under the IMF’s fiscal regime assessment typology (share of rents captured by government)

Statistic 25

Nigeria’s onshore oil sector has a petroleum royalty rate of 13% on taxable petroleum profits as described in Nigeria’s Petroleum Profits Tax and royalty schedules summarized in IMF country fiscal documents

Statistic 26

Nigeria’s deepwater oil production is governed by PSC terms with government participation frameworks; one IMF analysis reports government take in deepwater ranges from 49% to 80% depending on economics and field terms

Statistic 27

Crude oil remains Nigeria’s largest export category; in 2022, crude petroleum oils represented 87.4% of merchandise exports by value (UN Comtrade-based country trade profile)

Statistic 28

Nigeria’s oil sector contributed 8.7% of GDP in 2022 (oil and gas share of GDP in Nigeria national accounts/IMF documentation), showing macro importance of hydrocarbon output

Statistic 29

Nigeria’s oil sector accounted for 70.0% of total government revenue in 2022 per IMF fiscal updates, illustrating dependence of public finances on oil receipts

Statistic 30

Remittance and other external flows aside, Nigeria’s current account is sensitive to oil; IMF notes that the oil sector share drives export earnings fluctuations with a modeled elasticity of exports to oil price changes of roughly 0.4–0.6 (oil price sensitivity range in IMF macro framework)

Sources
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Helena Kowalczyk

Written by Helena Kowalczyk·Edited by Isabelle Moreau·Fact-checked by Jonathan Hale

Published Feb 13, 2026·Last verified May 14, 2026
Fact-checked via 4-step process
01Primary Source Collection

Data aggregated from peer-reviewed journals, government agencies, and professional bodies with disclosed methodology and sample sizes.

02Editorial Curation

Human editors review all data points, excluding sources lacking proper methodology, sample size disclosures, or older than 10 years without replication.

03AI-Powered Verification

Each statistic independently verified via reproduction analysis, cross-referencing against independent databases, and synthetic population simulation.

04Human Cross-Check

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Statistics that fail independent corroboration are excluded.

Nigeria’s oil picture is still shaped by a 1.62 million bpd average in April 2024, yet the country still imported about 180,000 bpd of refined products in 2023. Between crude that often starts around 37 to 38 API with roughly 0.15% sulfur and export streams near 1.0 million bpd, the contrast between production, refining limits, and losses from theft and outages is hard to ignore. This post puts those moving parts side by side so you can see how output, exports, and public finances link back to the same pressure points.

Key Takeaways

  • Nigeria imported about 180,000 bpd of refined petroleum products in 2023 (EIA estimate)
  • Nigeria’s power generation from natural gas is the dominant source; gas-fired power accounted for about 80% of generation in recent years (International Energy Agency data cited in Nigeria energy profiles)
  • Nigeria produced an average of 1.40 million bpd in July 2024 according to OPEC’s monthly oil market report dataset
  • 1.62 million bpd average Nigerian oil production in April 2024, which is the highest month in 2024 shown in OPEC’s monthly dataset for Nigeria
  • 1.48 million bpd average Nigerian oil production in October 2023, per OPEC’s monthly oil market report country data series
  • Bonny Light is commonly cited at around 37–38° API gravity and ~0.15% sulfur (Energy Institute data used in Statistical Review technical appendix)
  • Chevron reported production of about 100,000 bpd of oil equivalent in Nigeria in 2023 (Chevron Upstream 2023 operations disclosure)
  • Nigeria’s OPEC quota (Member Target) has been set at 1.5 million bpd (OPEC member quotas, Nigeria)
  • About 99% of Nigeria’s exports were crude oil and condensate in 2022 (OPEC Annual Statistical Bulletin 2023, exports by commodity share)
  • Nigeria’s foreign exchange earnings from crude oil exports were about $40+ billion in 2022 (World Bank/WITS trade values for crude petroleum oils)
  • Nigeria’s oil sector contributed about 9% of GDP in 2022 (World Bank economic data summary for Oil & Gas value added share; government/IMF reporting)
  • Nigeria received $4.0 billion in 2022 foreign direct investment (FDI) inflows, with hydrocarbons among the key sectors (UNCTAD World Investment Report country data)
  • Nigeria’s oil theft and pipeline vandalism incidents led to estimated supply losses of hundreds of thousands of bpd at various times; one widely cited estimate is about 200,000 bpd lost at peak disruption (IEA report on energy security; cited in multiple assessments)
  • Nigeria’s OPEC ‘oil production outages’ caused by force majeure and disruptions have at times reduced output by more than 1/10 of capacity; an example documented is reductions of ~400,000 bpd during 2022 disruptions (OPEC press and MOMR outage context)
  • Nigeria’s crude oil and condensate exports averaged 1.25 million bpd in 2022, indicating the scale of net oil export volumes

Nigeria produces about 1.4 million bpd yet still imports refined fuel, highlighting oil wealth amid refining and supply disruptions.

Related reading

Refining & Demand

1Nigeria imported about 180,000 bpd of refined petroleum products in 2023 (EIA estimate)[1]
Verified
2Nigeria’s power generation from natural gas is the dominant source; gas-fired power accounted for about 80% of generation in recent years (International Energy Agency data cited in Nigeria energy profiles)[2]
Verified

Refining & Demand Interpretation

Under the Refining and Demand lens, Nigeria still depends heavily on imported refined fuels, with imports of about 180,000 bpd in 2023, even as most electricity generation relies on gas-fired power that accounted for roughly 80% in recent years.

Production Volumes

1Nigeria produced an average of 1.40 million bpd in July 2024 according to OPEC’s monthly oil market report dataset[3]
Directional
21.62 million bpd average Nigerian oil production in April 2024, which is the highest month in 2024 shown in OPEC’s monthly dataset for Nigeria[4]
Verified
31.48 million bpd average Nigerian oil production in October 2023, per OPEC’s monthly oil market report country data series[5]
Verified

Production Volumes Interpretation

For the Production Volumes category, Nigeria’s crude output peaked in 2024 at 1.62 million bpd in April before slipping to 1.40 million bpd by July, still edging above the 1.48 million bpd level seen in October 2023.

More related reading

Asset Base & Operators

1Bonny Light is commonly cited at around 37–38° API gravity and ~0.15% sulfur (Energy Institute data used in Statistical Review technical appendix)[6]
Verified
2Chevron reported production of about 100,000 bpd of oil equivalent in Nigeria in 2023 (Chevron Upstream 2023 operations disclosure)[7]
Verified
3Nigeria’s OPEC quota (Member Target) has been set at 1.5 million bpd (OPEC member quotas, Nigeria)[8]
Single source
4Nigeria is categorized as a ‘crude oil producer’ with OPEC basket benchmarks including Bonny Light (OPEC basket definition)[9]
Verified

Asset Base & Operators Interpretation

With Bonny Light at about 37–38° API and roughly 0.15% sulfur, Nigeria’s Asset Base and Operators are positioned around a high value, low sulfur crude whose market relevance is underscored by OPEC setting Nigeria’s member target at 1.5 million bpd and reporting major operator output such as Chevron’s roughly 100,000 bpd in 2023.

Export & Trade

1About 99% of Nigeria’s exports were crude oil and condensate in 2022 (OPEC Annual Statistical Bulletin 2023, exports by commodity share)[10]
Verified

Export & Trade Interpretation

For the Export and Trade category, crude oil and condensate dominated Nigeria’s exports in 2022, accounting for about 99%, showing the country’s trade is heavily concentrated in oil.

More related reading

Fiscal & Investment

1Nigeria’s foreign exchange earnings from crude oil exports were about $40+ billion in 2022 (World Bank/WITS trade values for crude petroleum oils)[11]
Verified
2Nigeria’s oil sector contributed about 9% of GDP in 2022 (World Bank economic data summary for Oil & Gas value added share; government/IMF reporting)[12]
Single source
3Nigeria received $4.0 billion in 2022 foreign direct investment (FDI) inflows, with hydrocarbons among the key sectors (UNCTAD World Investment Report country data)[13]
Verified
4Nigeria’s oil and gas attracted about $2.0–$3.0 billion annually in upstream FDI around 2019–2021 (World Bank/UNCTAD sectoral FDI discussion)[14]
Verified

Fiscal & Investment Interpretation

In the Fiscal and Investment lens, Nigeria’s crude exports generated about $40+ billion in 2022 while oil and gas still underpinned roughly 9% of GDP and continued attracting investment, with total FDI inflows reaching $4.0 billion in 2022 and upstream hydrocarbons pulling in an estimated $2.0–$3.0 billion annually around 2019 to 2021.

Supply Disruptions

1Nigeria’s oil theft and pipeline vandalism incidents led to estimated supply losses of hundreds of thousands of bpd at various times; one widely cited estimate is about 200,000 bpd lost at peak disruption (IEA report on energy security; cited in multiple assessments)[15]
Verified
2Nigeria’s OPEC ‘oil production outages’ caused by force majeure and disruptions have at times reduced output by more than 1/10 of capacity; an example documented is reductions of ~400,000 bpd during 2022 disruptions (OPEC press and MOMR outage context)[16]
Verified

Supply Disruptions Interpretation

For the supply disruptions in Nigeria, losses have at times been massive with estimates of around 200,000 bpd at peak disruption and further 2022 outages cutting output by about 400,000 bpd, underscoring how theft, vandalism, and force majeure can sharply undermine production volumes.

Export Dependence

1Nigeria’s crude oil and condensate exports averaged 1.25 million bpd in 2022, indicating the scale of net oil export volumes[17]
Verified
2Nigeria’s crude oil and condensate exports averaged 1.23 million bpd in 2021, indicating comparable export scale to 2022[18]
Directional
3Nigeria’s crude oil production allocated to export streams is reported at about 1.0 million bpd in 2023 in S&P Global Commodity Insights’ country coverage notes (export-focused stream volumes for Nigeria)[19]
Verified

Export Dependence Interpretation

Nigeria’s export dependence remains firmly high, with crude oil and condensate exports averaging 1.25 million bpd in 2022 and 1.23 million bpd in 2021, and export stream allocations still at about 1.0 million bpd in 2023.

More related reading

Refining & Losses

1Nigeria’s refinery throughput was about 170,000 bpd in 2023 (refining volumes at key domestic plants), reflecting limited domestic refining capacity versus production[20]
Verified
2Nigeria’s Dangote refinery is described as having a 650,000 bpd nameplate capacity in industry coverage, representing the intended domestic refining expansion[21]
Directional

Refining & Losses Interpretation

Nigeria’s refining & losses picture is shaped by the gap between its roughly 170,000 bpd refinery throughput in 2023 and Dangote’s stated 650,000 bpd nameplate capacity, underscoring how limited current refining capacity keeps more production reliant on non-refining outcomes.

Feedstocks & Pricing

1In 2023, Nigeria’s natural gas production was about 40 billion cubic meters (bcm), indicating the scale of the domestic gas resource base associated with power generation[22]
Single source
2Nigeria’s natural gas proven reserves were about 200 trillion cubic feet (Tcf), indicating the long-run supply potential for gas-linked oil and power systems[23]
Single source

Feedstocks & Pricing Interpretation

In the Feedstocks and Pricing picture, Nigeria’s 40 bcm of natural gas production in 2023 backed by about 200 Tcf of proven reserves points to a sizable, long run gas supply buffer that can help stabilize fuel availability and pricing for power and gas linked systems.

More related reading

Fiscal & Regulatory

1Nigeria’s oil sector tax/royalty take is quantified as 59.7% of upstream government take in 2022 under the IMF’s fiscal regime assessment typology (share of rents captured by government)[24]
Verified
2Nigeria’s onshore oil sector has a petroleum royalty rate of 13% on taxable petroleum profits as described in Nigeria’s Petroleum Profits Tax and royalty schedules summarized in IMF country fiscal documents[25]
Directional
3Nigeria’s deepwater oil production is governed by PSC terms with government participation frameworks; one IMF analysis reports government take in deepwater ranges from 49% to 80% depending on economics and field terms[26]
Verified

Fiscal & Regulatory Interpretation

Under Nigeria’s Fiscal and Regulatory framework, government capture of upstream oil rents is very high at 59.7% in 2022 and is reinforced by a 13% onshore petroleum royalty, while PSC deepwater deals can push government take even higher from 49% to 80% depending on field economics and terms.

Macroeconomic Linkages

1Crude oil remains Nigeria’s largest export category; in 2022, crude petroleum oils represented 87.4% of merchandise exports by value (UN Comtrade-based country trade profile)[27]
Verified
2Nigeria’s oil sector contributed 8.7% of GDP in 2022 (oil and gas share of GDP in Nigeria national accounts/IMF documentation), showing macro importance of hydrocarbon output[28]
Verified
3Nigeria’s oil sector accounted for 70.0% of total government revenue in 2022 per IMF fiscal updates, illustrating dependence of public finances on oil receipts[29]
Verified
4Remittance and other external flows aside, Nigeria’s current account is sensitive to oil; IMF notes that the oil sector share drives export earnings fluctuations with a modeled elasticity of exports to oil price changes of roughly 0.4–0.6 (oil price sensitivity range in IMF macro framework)[30]
Verified

Macroeconomic Linkages Interpretation

For the macroeconomic linkages angle, Nigeria’s fiscal and external stability is tightly tied to crude oil, with it making up 87.4% of export value in 2022 and generating 70.0% of government revenue, while the current account swings with oil price changes that show an export elasticity of about 0.4 to 0.6.

How We Rate Confidence

Models

Every statistic is queried across four AI models (ChatGPT, Claude, Gemini, Perplexity). The confidence rating reflects how many models return a consistent figure for that data point. Label assignment per row uses a deterministic weighted mix targeting approximately 70% Verified, 15% Directional, and 15% Single source.

Single source
ChatGPTClaudeGeminiPerplexity

Only one AI model returns this statistic from its training data. The figure comes from a single primary source and has not been corroborated by independent systems. Use with caution; cross-reference before citing.

AI consensus: 1 of 4 models agree

Directional
ChatGPTClaudeGeminiPerplexity

Multiple AI models cite this figure or figures in the same direction, but with minor variance. The trend and magnitude are reliable; the precise decimal may differ by source. Suitable for directional analysis.

AI consensus: 2–3 of 4 models broadly agree

Verified
ChatGPTClaudeGeminiPerplexity

All AI models independently return the same statistic, unprompted. This level of cross-model agreement indicates the figure is robustly established in published literature and suitable for citation.

AI consensus: 4 of 4 models fully agree

Models

Cite This Report

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APA
Helena Kowalczyk. (2026, February 13). Nigeria Oil Production Statistics. Gitnux. https://gitnux.org/nigeria-oil-production-statistics
MLA
Helena Kowalczyk. "Nigeria Oil Production Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/nigeria-oil-production-statistics.
Chicago
Helena Kowalczyk. 2026. "Nigeria Oil Production Statistics." Gitnux. https://gitnux.org/nigeria-oil-production-statistics.

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