EnergyOilNatural GasCoalElectricity

Nigeria Oil

Reserves (2025)#11 World
37,500,000,000barrels
2.1%
of world reserves
64 years
at current production
Production (2025)#15 World
1,675,090b/d+7.2% YoY
Consumption (2024)#33 World
492,939b/d+1.4% YoY
Daily Surplus (2024)
+1,069,806b/d

Consumption uses 31.5% of production.

Production
Consumption
Surplus

Oil Reserves in Nigeria

  • Nigeria has proven oil reserves of 37,500,000,000 barrels (as reported in 2025) (#11 in the world), representing 2.1% of the world's total.
  • As of 2025 production rates, Nigeria has roughly 64 years of proven oil reserves left (crude and condensate reserves ÷ their annual production).

Oil Production in Nigeria

  • Nigeria produced 1,675,090 barrels per day of oil and petroleum liquids in 2025 (#15 in the world), an increase of 7.2% from 1,562,745 barrels per day in 2024.
  • Of that, 1,605,414 barrels per day was crude oil in 2025.
  • And 56,178 barrels per day was natural gas plant liquids (NGPL) in 2025.

Oil Consumption in Nigeria

  • Nigeria consumed 492,939 barrels per day of oil and petroleum products in 2024 (#33 in the world), an increase of 1.4% from 2023. This represents 0.48% of the world's total oil consumption.
  • Per capita, oil consumption in Nigeria averaged 0.09 us gallons per day in 2024 (#179 in the world).
  • The largest refined-product categories were Motor Gasoline (65%), Distillate Fuel Oil (17.9%), and Liquefied Petroleum Gases (7.1%).

(Historical) Oil Imports & Exports in Nigeria

EIA has stopped publishing oil trade data. Imports and exports data shown here are historical and may not reflect current trends.

Imports and exports data cover crude oil and lease condensate only, and do not include other petroleum liquids such as natural gas plant liquids (NGPL) or refined products.

oil Balance in Nigeria

  • In 2024, Nigeria produced approximately 1,562,745 barrels per day of oil and consumed 492,939 barrels per day , a surplus of 1,069,806 barrels per day.

Nigeria Oil History (1973-2025)

ReservesProductionConsumptionCrude Oil Trade (Historical)
202537,500,000,000112.1%1,675,090+7.2%151.6%————————
202436,967,000,000112.1%1,562,745+3%151.5%492,939+1.4%330.48%0.09———
202337,050,000,000112.1%1,517,097+10.7%151.5%485,956−5.8%330.48%0.09———
202236,910,000,000112.1%1,369,920−14.4%161.4%515,785+5.3%320.52%0.1———
202136,890,000,000112.1%1,601,048−13.6%151.7%489,822+13.2%330.50%0.09———
2020———1,854,051−7.7%142.0%432,614−11.5%340.47%0.08———
201936,182,000,000112.2%2,009,663+1.6%112.0%488,997+7.8%330.49%0.1———
201837,453,000,000112.2%1,977,491−2.1%122.0%453,707+6.5%360.45%0.0901,889,062−1,889,062
201737,062,000,000102.3%2,019,198+4.2%132.1%425,845+0.22%370.43%0.0901,906,074−1,906,074
201637,070,000,000102.2%1,937,503−13.3%142.0%424,895+3.6%360.44%0.0901,847,376−1,847,376
201537,070,000,000112.2%2,234,320−7.1%132.3%410,000−9.7%370.43%0.0902,114,219−2,114,219
201437,140,000,000102.3%2,405,432+1.9%132.6%454,000+5.8%350.48%0.102,120,096−2,120,096
201337,200,000,000102.3%2,361,260−6%132.6%429,274+54.6%350.46%0.102,027,859−2,027,859
201237,200,000,000102.4%2,510,854−0.65%132.8%277,631−0.73%450.31%0.0702,287,508−2,287,508
201137,200,000,000102.5%2,527,379+2.7%132.9%279,662−4.3%460.31%0.0702,222,301−2,222,301
201037,200,000,000102.7%2,461,650+11.3%112.8%292,278+23.2%450.33%0.0702,321,521−2,321,521
200936,220,000,000102.7%2,211,659+2%142.6%237,172−14.3%500.28%0.0602,071,456−2,071,456
200836,220,000,000102.7%2,168,725−5.9%142.5%276,679+27.2%460.32%0.0701,961,286−1,961,286
200736,220,000,000102.7%2,305,447−4.9%122.7%217,451−13%540.25%0.0602,152,100−2,152,100
200635,876,000,000102.8%2,423,037−4.9%122.8%249,888−19.3%490.29%0.0702,211,852−2,211,852
200535,255,000,000102.8%2,549,027+2.5%123.0%309,570+10.5%410.37%0.0902,299,661−2,299,661
200425,000,000,000102.0%2,485,726+8.6%113.0%280,188−0.01%430.34%0.0802,368,810−2,368,810
200324,000,000,000112.0%2,289,353+7.9%132.9%280,225−4.1%410.35%0.0902,158,539−2,158,539
200224,000,000,000112.3%2,121,235−4.8%122.8%292,196+1.9%390.37%0.0901,797,339−1,797,339
200122,500,000,000122.2%2,227,972+2.9%132.9%286,822+26.2%390.37%0.0902,069,603−2,069,603
200022,500,000,000122.2%2,164,242+4.8%132.8%227,354−9.8%470.30%0.0802,086,055−2,086,055
199922,500,000,000112.2%2,065,151−5.7%132.8%252,000−2.9%460.33%0.0901,844,505−1,844,505
199817,000,000,000121.7%2,189,770−8.4%122.9%259,600−6.2%420.35%0.0901,886,300−1,886,300
199716,000,000,000121.6%2,389,627+5.7%123.2%276,700−3%400.38%0.102,055,119−2,055,119
199621,000,000,000112.2%2,260,293+10.6%123.1%285,200+1%380.40%0.1101,907,318−1,907,318
199518,000,000,000111.9%2,043,814+1.3%122.9%282,300+11.6%390.40%0.1101,670,488−1,670,488
199418,000,000,000111.9%2,018,225−0.57%122.9%253,000−6.9%410.37%0.101,632,858−1,632,858
199318,000,000,000111.9%2,029,711+3.7%123.0%271,700+2.5%390.41%0.1101,649,263−1,649,263
199218,000,000,000111.9%1,957,306−0.23%122.9%265,000+2.8%400.39%0.1101,632,053−1,632,053
199117,000,000,000111.7%1,961,778+4.9%103.0%257,800+2.9%360.39%0.1101,583,225−1,583,225
199016,000,000,000111.6%1,869,699+5.3%112.8%250,600+2.6%350.38%0.1101,523,434−1,523,434
198916,000,000,000111.8%1,775,951+18.4%122.7%244,200+4.4%340.37%0.1101,515,090−1,515,090
198816,000,000,000111.8%1,500,055+9.4%132.3%233,900+7.4%350.36%0.1101,183,846−1,183,846
198716,000,000,000112.3%1,370,696−6.6%142.2%217,800+4.7%360.35%0.101,106,864−1,106,864
198617,000,000,000112.4%1,467,025−1.9%132.4%208,100−6.3%370.34%0.101,270,294−1,270,294
198517,000,000,000112.4%1,494,792+7.7%92.5%222,000+5.7%350.37%0.1101,331,052−1,331,052
198417,000,000,000112.5%1,387,833+11.8%112.3%210,000+4%370.35%0.1101,155,267−1,155,267
198317,000,000,000112.6%1,241,151−4.2%102.1%202,000−6%390.34%0.1101,003,294−1,003,294
198217,000,000,000112.5%1,294,981−9.6%92.2%215,000+7.5%360.36%0.1201,059,912−1,059,912
198117,000,000,000112.6%1,433,197−30.3%92.4%200,000+17.6%400.33%0.1101,255,521−1,255,521
198017,000,000,000112.6%2,054,833−10.7%63.2%170,000—410.27%0.101,938,087−1,938,087
1979———2,301,910+21.3%74.1%————————
1978———1,896,978−9%93.5%————————
1977———2,084,942+0.87%63.9%————————
1976———2,067,049+15.9%74.0%————————
1975———1,783,060−20.9%73.7%————————
1974———2,255,101+9.8%64.5%————————
1973———2,053,847—74.1%————————

See also

Sources