Nigeria generated an estimated fifty-five point five trillion naira from crude oil sales in 2025 according to data released on January 29 2026 by the Nigerian Upstream Petroleum Regulatory Commission and the Central Bank of Nigeria.
This revenue marks a notable increase from the fifty point eight trillion naira recorded in the previous year and was driven by a total annual production of five hundred and thirty million barrels. The final figure was calculated based on an average global oil price of seventy-two dollars per barrel and a benchmark exchange rate of one thousand four hundred and fifty naira to the dollar.
While the gross earnings show growth the country struggled to meet its internal production targets of two point one million barrels per day only managing an average of one point six four million barrels per day.
Operational disruptions and technical outages meant that the federation fell below its OPEC quota for most of the year. This resulted in a discrepancy between the massive gross revenue figures and the actual net receipts available for the federation account after accounting for joint venture cash calls and the servicing of forward-sale loans.
The federal government has adjusted its 2026 fiscal strategy by setting a more conservative production benchmark of one point eight four million barrels per day at a price of sixty-four dollars per barrel.
To boost these numbers the Ministry of Petroleum Resources is opening fifty new oil blocks for bidding this year with a focus on deep-offshore exploration. Officials hope that these new investments will stabilize the output and reduce the impact of the infrastructure vulnerabilities that hindered the 2025 revenue cycle.
