In September 2023, Nigeria’s profits from crude oil increased to approximately N274 billion. The country pumped almost 1.7 million barrels of crude oil in September, which is in line with the report’s growth in oil output. Additionally, the commodity’s price rose to $93.7 per barrel globally.
In September 2023, Nigeria’s crude oil earnings increased by about N274 billion, as the conflict between Israel and Hamas caused general crude oil prices to rise to over $93 per barrel. Additionally, Nigeria raised its crude oil output in September, coinciding with this trend.
According to the latest data from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Nigeria produced 40,396,863 barrels of crude oil in September. See https://www.legit.ng/business-economy/energy/1559957-good-news-naira-nigeria-earns-n274-billion-crude-oil-september/ for additional details.
About The Author
