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Nigeria sustains position as Africa’s top oil producer with crude output rise

OPEC data reveals an increase in Nigeria's crude oil production to 1.351 million barrels per day, solidifying its status as the continent's leading oil exporter

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In the intricate tapestry of global oil dynamics, Nigeria has reaffirmed its dominance as Africa’s foremost oil producer, recording a rise in crude oil production to 1.351 million barrels per day in October 2023. The data, released by the Organisation of Petroleum Exporting Countries (OPEC), highlights Nigeria’s resilience in maintaining its leading position, surpassing other significant players on the continent.

September 2023 already marked a notable achievement for Nigeria, with an oil production of 1.347 million barrels per day, securing its place as Africa’s highest oil producer. The subsequent increase in October further solidifies its standing, outpacing oil volumes produced by fellow African nations, including Libya and Angola.

According to OPEC figures, Algeria trailed with a production of 961,000 barrels per day in October, while Angola recorded 1.147 million barrels per day, and Libya’s output stood at 1.188 million barrels per day.

Amidst these achievements, Nigeria’s Minister of State for Defence, Bello Matawalle, expressed optimism about the country’s oil production trajectory. He outlined that concerted efforts, including government initiatives and military actions against oil theft in the Niger Delta region, have contributed to the surge in production.

Matawalle revealed, “Before now, due to oil theft activities in the Niger Delta region, oil production dropped to about one million barrels per day. But with the Federal Government’s actions and the onslaught of the combined military against oil thieves, the production stands at 1.7 million barrels per day currently. We are hoping that at the end of this year, we will reach about 1.9 million barrels per day.”

Nigeria’s commitment to overcoming challenges and enhancing its oil production capabilities positions the country as a key player in the global energy landscape. The sustained growth in crude oil output underscores Nigeria’s pivotal role in shaping Africa’s oil narrative.

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