We Import Petrol While Exporting Crude: A Masterclass in Economic Self-Sabotage

We Import Petrol While Exporting Crude: A Masterclass in Economic Self-Sabotage

On Monday, January 12, 2026, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) released its latest performance data, revealing a bittersweet reality. Nigeria averaged 1.64 million barrels per day (mbpd) of crude oil and condensates throughout 2025. While this shows a slight stabilization compared to previous years of rampant oil theft, it remains well below the…

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Nigeria’s Oil Money Problem: Why Rising Output Still Isn’t Paying the Bills

Nigeria pumped more crude oil in the first half of 2025, but the money did not follow. Despite a modest recovery in production, the Federal Government earned ₦16.2 trillion less than projected from oil between January and June, once again exposing the fragility of an economy still heavily tied to a volatile commodity. According to…

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