Nigeria's crude oil production from 2010 to 2020

The Petroleum Industry Bill passed in July 2021 is expected to transform the oil and gas industry. Nigeria's oil production dropped from 2.1m barrels per day in 2019 to 1.798m barrels per day in 2020. Here's a representation of the country's oil production over the years:

Source:

British Petroleum Plc

Period:

2010 - 2020
HTML code to embed chart
Want a bespoke report?
Reach out
Tags
Related Insights

Africa's crude oil producers: Only 4 countries ever made it past 1 million barrels a day since 1965
Only 4 African countries ever crossed 1 million b/d:   Libya, Nigeria, Algeria, and Angola.
Libya was Africa’s top producer in the...

After the drop in 2020 due to COVID-19, Oando Plc's profit before tax has surpassed pre-COVID-19 levels
Key Takeaways:
Despite recent gains, Oando Plc's earnings before tax have declined by 222% over the past decade.
Major losses occurred in...

In 50+ years of oil production, the top spot has rotated among only 4 countries
Only 4 countries have ever topped global oil production since 1973: the US, USSR, Saudi Arabia, and Russia.
The USSR and...

Oando Plc achieved a revenue increase of 412% between 2021 and 2024, while profits declined by 181% from 2022 to 2024, despite a positive profit after tax in 2024
Key takeaways:
Despite a profit after tax record of ₦65.5 billion in 2024, Oando Plc recorded a negative growth rate from...

Seplat Energy's revenue surged by 137%, with profits increasing by 163% in 2024 compared to 2023
Key takeaways:
Seplat’s revenue steadily increased from ₦112.97 billion in 2015 to ₦1.65 trillion in 2024.
The difference between revenue and profit...

Nigeria’s largest refinery took over a decade and $20 billion to begin operations
Dangote first announced the refinery in 2013 with a $9 billion plan, securing $3.3 billion in funding.
The estimated cost grew...

POPULAR TOPICS
SIGN UP TO OUR NEWSLETTER
Get periodic updates about the African startup space, access to our reports, among others.
Subscribe Here
Subscription Form

©2025
A product of Techpoint Africa. All rights reserved