Compared to 2023, Nigeria’s total crude oil and condensate production rose by 30 million barrels in 2024, about 5.6 per higher than the previous year’s cumulative liquids output.
Data from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) also showed that in the two years under review, Nigeria recorded the highest volume of both liquids in December 2024.
In total, oil and condensate output last December was 51.794 million barrels.
In all, the country posted circa 566.794 million barrels of crude oil and condensate production in 2024 as against 536.752 million barrels recorded in 2023, meaning that Nigeria, Africa’s biggest oil producer may have finally turned the corner in its prolonged quest to boost its crude production.
However, despite the country’s vow to raise total production to 2 million barrels per day at the end of 2024, a THISDAY review of the NUPRC data showed that Nigeria’s total average liquids volume only hit 1.667 million barrels per day last month.
