Oil
Nigeria’s oil reserves fall 221 million barrels despite production gains
CEII brief
BusinessDay reported on 6 Nov 2026: Nigeria’s oil reserves fall 221 million barrels despite production gains.
Read the full story on BusinessDayNigeria’s crude oil and condensate reserves shrank by 221.63 million barrels at the start of 2025 even as producers pumped read more Nigeria’s oil reserves fall 221 million barrels despite production gains
Context from CEII
Crude benchmarks move budgets, currencies and inflation in producer and importer countries alike. For economies such as Nigeria, where fuels dominate exports, production and refining decisions move the whole economy.
85.9% of Nigeria’s merchandise exports were fuels in 2025Countries in this story
Original reporting © BusinessDay. Headline and excerpt quoted with attribution; the full article is available on the publisher’s site. CEII’s context is the Centre’s own and does not represent the publisher.
