As oil price hovers at 66 per barrel
Decline heightens threat to FGs N55trn budget
Nigerias crude oil output,including condensate, dropped month-on-month, MoM, to 1.486 million barrels per day, bpd, in April 2025, from 1.401 million bpd in March 2025.
The Organisation of Petroleum Exporting Countries, OPEC, disclosed this in its May 2025 Monthly Oil Market Report, MOMR, explaining that this was based on data obtained from direct communication.