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:
Between 2013 and 2022, Nigeria exported crude oil worth ₦123 trillion, with yearly figures ranging from ₦6.8 trillion to ₦21.1 trillion, and the highest (₦21.1 trillion) recorded in 2022. This chart shows the annual values.
