Nigeria Now Top African Crude Oil Producer

By Sola Omoniyi, Lagos

It is a big win for the giant of Africa, Nigeria, as it has been named the top crude oil producer in Africa.

According to reports, Nigeria is currently producing 1.184 million barrels of crude oil per day. As Nigeria reclaims its position as Africa’s top crude oil producer, it has surpassed Angola producing 1.111 million barrels per day, Libya producing 1.158 million barrels per day, a s Algeria producing 962,000 barrels per day.

It was also asserted by OPEC that Nigeria’s economic development grew up by 2.4% in the first quarter of 2023.

As Nigeria’s economy is battling with issues of rising inflation, and weak corporate and consumer spending, in April 2023, the annual inflation rate was 22.2%.

However, in May 2023, the country produced 1.4 million barrels of crude oil per day.