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The United States, Canada, and Iran account for over 50% of the world’s 1,802 active oil rigs in 2024, with Nigeria ranking 15th globally with 31 rigs

The United States remains the undisputed leader with 589 active rigs, accounting for nearly a third of all rigs worldwide in 2024.
Canada (162 rigs) and Iran (117 rigs) follow as the second and third highest contributors to global drilling activity.
Middle Eastern producers dominate the top 10, with Kuwait (80), UAE (73), Saudi Arabia (70), Iraq (62), and Oman (50) collectively operating 335 rigs.
Nigeria ranks 15th globally with 31 active rigs, making it one of only two African nations in the global top 20.
The top 10 countries account for over 75% of the world’s active rigs, reflecting the continued concentration of drilling infrastructure in a handful of key oil-producing regions.

Venezuela, Saudi Arabia, and Iran hold over 50% of the world’s 1.57 trillion barrels in recoverable crude oil reserves, with Nigeria among top 10

The world’s total proven recoverable crude oil reserves stand at 1.57 trillion barrels in 2024.
Venezuela, Saudi Arabia, and Iran collectively hold over 50% of these reserves, with 303.2B, 267.2B, and 208.6B barrels respectively.
Nigeria ranks 10th globally with 37.3 billion barrels, placing it ahead of other major producers like Kazakhstan, China, and Brazil.
The majority of the largest reserves are concentrated in Middle Eastern and South American countries, with only a few top holders located in North America, Africa, and Asia.

China tops the global reserves chart in 2024, holding nearly three times Japan’s reserves and having 5.53% of its total reserves as gold reserves

Key takeaways:

China leads all nations with total reserves of $3.46 trillion while holding 5.53% of its share in gold reserves.
The top 15 countries collectively hold a total reserve of $10.78 trillion.
Despite being the global leader in gold reserves, the United States ranks third in total reserves.
The largest share of the United States' total reserves is from its gold reserve holdings of 74.97%.
Countries in the top fifteen list hold at least $236.9 billion each in total reserves.
The United States, France, and Italy have more than 70% of their total reserve holdings in gold.

The UK led Nigeria’s capital imports in H1 2024, contributing nearly 50% of total inflows

In H1 2024, the UK accounted for nearly half (48.9%) of Nigeria’s capital investments, totalling $2.93 billion, followed by South Africa (14%) and the Netherlands (11%). This highlights the UK's long-standing economic ties with Nigeria, having invested over $47.5 billion over the past ten years. The UK remains Nigeria's top capital import source.