Nigeria's crude export earnings drop 14% in 2025 despite higher output, while 2026 H1 revenues hit $17.6 bn

Nigeria’s crude oil export earnings fell 14.4% in 2025, declining to $31.54 billion even as production rose to 530.41 million barrels. Weaker global crude prices, pipeline outages and other operational disruptions limited revenue, narrowing the current‑account surplus to $14.04 billion.

In the first half of 2026, the country exported about 182.2 million barrels of crude, generating roughly $17.6 billion (N24.02 trillion) in earnings. Production during the period averaged around 263.65 million barrels, with daily output and export volumes fluctuating month‑by‑month. The figures underscore Nigeria’s continued reliance on crude exports as the main source of foreign‑exchange earnings.