Nigeria’s Oil Revenue Surges in First Half | Nigeria News

Nigeria’s oil production surged in the first half of 2026, generating a staggering 41.7 trillion naira—nearly half the government’s annual oil revenue target—driven by an average of 1.63 million barrels per day. Output fluctuated month-to-month, dipping in February but climbing sharply in May and June, mirroring global oil price volatility fueled by Middle East tensions. While gross revenue looks impressive, net earnings are significantly lower after costs and taxes. Still, the uptick signals progress in curbing oil theft and securing infrastructure, with production hitting its highest level in six years and exceeding OPEC quotas for four straight months. Officials credit improved efficiency and uptime for the rebound. To meet full-year budget goals, Nigeria must sustain output above 1.7 million barrels per day in the second half, leveraging favorable global prices to boost foreign exchange and revenue. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/f5aff5121d963357