- Data shows that Nigeria lost roughly four million barrels of oil between June and July
- Nigeria’s oil production was 1.08 million barrels per day in July 2023
- This follows a recent report that the country lost its position as the biggest oil producer in the continent
The latest oil production numbers have shown that Nigeria lost almost N249 billion in crude oil revenue in July as a result of a decline in oil production of more than four million barrels in the same month.
The entire oil production of the nation fell to 33.5 million barrels in July from June’s 37.5 million barrels, according to information acquired from the Nigerian Upstream Petroleum Regulatory Commission.
