• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Saturday, June 21, 2025
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home Natural Resources

Nigeria regains top crude oil production spot in Africa

The Matters Press by The Matters Press
December 14, 2021
Reading Time: 2 mins read
0
Nigeria regains top crude oil production spot in Africa

Nigeria has regained the top spot among crude oil producing countries in Africa with the nation’s crude oil production averaging 1.27 million barrels per day in November.

RELATED POSTS

Nigerian Army kills 6,260 terrorists, rescues 5,365 civilians in 2 years

ECOWAS, Sahel states in deal to confront terrorism

Tinubu’s decision to press ahead with ongoing reforms, commendable-TMSG

The Organisation of the Petroleum Exporting Countries (OPEC) made this known in its Oil Market Report for December on Monday in Lagos.

The report said the figure showed an increment of 47,000 barrels per day when compared to the 1.228 mb/d produced averagely in the month of October 2021.

Libya, which clinched the top spot in Africa in October with 1.24 mb/d declined to 1.211 mb/d in November.

“According to secondary sources, total OPEC-13 crude oil production averaged 27.72 mb/d in November 2021, higher by 0.29 mb/d Month on Month.

” Crude oil output increased mainly in Saudi Arabia, Iraq and Nigeria, while

production in Angola, Libya and Congo declined,” the report said.

The report said the near term outlook of Nigeria economy was hindered by the elevated inflationary and labour market pressures.

According to the report, the improvement in oil prices still supported the economic recovery.

The inflation rate, the report showed,  eased to 15.99 per cent in October 2021, from 16.63 per cent in September marking the lowest rate since last December, largely due to a sustained moderation in food prices.

“On a monthly basis, consumer prices increased by 0.98 per cent following a 1.15 per cent rise in the previous month.

“The Stanbic IBTC Bank Nigeria Purchasing Managers’ Index reflected a solid expansion in business conditions despite the ongoing overall prices increase as it rose to a four-month high of 55 in November, up from 54.1 per cent in October. “

Tags: Crude oil
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

Gombe: Troops take over to enforce peace
News

Nigerian Army kills 6,260 terrorists, rescues 5,365 civilians in 2 years

June 20, 2025
ECOWAS, Sahel states in deal to  confront terrorism
Foreign

ECOWAS, Sahel states in deal to confront terrorism

June 20, 2025
Tinubu denies manipulating NASS
Economy/Technology

Tinubu’s decision to press ahead with ongoing reforms, commendable-TMSG

June 20, 2025
Buhari urges Nigerians to maintain peace as he promises free, fair polls
Economy/Technology

TDF extols Buhari for supporting Tinubu’s reforms

June 19, 2025
Nigerians to own brand new vehicles, goods through new credit scheme initiative
News

Tinubu’s mid-term scorecard, a glimpse of coming dividends – TMSG

June 19, 2025
Fubara shames antagonists of emergency rule, vindicates Tinubu – TDF
Energy

Fubara shames antagonists of emergency rule, vindicates Tinubu – TDF

June 16, 2025
Next Post
Nigeria plans to increase petrol pump price despite spike in inflation, unemployment

Petroleum products availability in Lagos during yuletide

Working from home is the new normal as we combat the Covid-19

Recommended Stories

SIFAX spends N250m on Corporate social responsibility

SIFAX Group appoints new GMD for Sky Capital

March 4, 2023
Stakeholders commend NNPC for good performance

NNPC commits to development of host communities

January 3, 2022
World Bank predicts 4% global economic growth, 1.1% for Nigeria in 2021

World Bank disburses N35.3bn intervention funds to 36 states

March 10, 2022

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • Nigerian Army kills 6,260 terrorists, rescues 5,365 civilians in 2 years
  • ECOWAS, Sahel states in deal to confront terrorism
  • Tinubu’s decision to press ahead with ongoing reforms, commendable-TMSG

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us