Nigeria’s oil production climbed last month, with current output showing a consistent upward trend, according to the head of the country’s upstream regulator.
As the continent’s leading producer, Nigeria relies heavily on crude oil for government funding and foreign exchange, making production growth vital to economic stability.
In the past, oil theft, insecurity, and lack of investment disrupted output and strained public finances. Authorities have since intensified security operations in the Niger Delta to address these issues.
Gbenga Komolafe, chief executive of the Nigerian Upstream Petroleum Regulatory Commission, told an energy conference that the improved output reflects the impact of ongoing security efforts and forms part of a broader drive to raise production significantly.
He added that the commission remains committed to working closely with stakeholders to maintain these gains and promote greater transparency across the sector.
source: www.reuters.com
African Energy Council