Nigeria has witnessed a significant uptick in its oil production during the fourth quarter of 2024, surging from 1.470 million barrels per day (bpd) in the previous quarter to 1.540 million bpd. This rise marks a notable recovery in the nation's oil output, a key component of its economy.
The increase, recorded in official figures updated on 25 February 2025, suggests reinforced efforts by Nigeria to boost its oil industry amid global demand fluctuations. The improvement between the third and fourth quarters of 2024 reflects the country's enhanced capacity and potential for further growth.
As Africa's largest oil producer, Nigeria's increased production capacity plays a critical role in its economic landscape and the broader global oil market. Analysts will be watching closely to see if Nigeria can sustain and even build on this momentum in the coming year.
