Nigeria’s Crude Oil Export Grows By 20.8% in Q4 2023

In comparison, in the previous quarter (Q3), crude oil shipped out of Nigeria was N8.53 trillion, while Q2 was N4.91 trillion, an increase in value of 109.91 percent between the two periods.

For years, Nigeria’s total crude oil production had steadily declined as a result of waning investment, vandalism as well as massive theft in the Niger Delta.