Nigeria produced a total of 440.774 million barrels of crude oil valued at about N12.4tn between January and November 2021, an analysis of the latest oil production data released by the Federal Government showed.
A document on Crude Oil and Condensate Production for 2021, releases by the Nigerian Upstream Petroleum Regulatory Commission on Tuesday, indicated that the Federal Government raked in about N12.4tn from crude oil alone sales during the review period.
It was observed that oil production during the 11-month period kept fluctuating, hitting a high of 44.287 million barrels in March, while the least production volume of 37.405 million barrels was recorded in September.
Production volumes in the months of January, February, April, May and June were 42.195 million barrels, 39.869 million barrels, 41.17 million barrels, 41.679 million barrels and 39.4 million barrels respectively.
For the months of July, August, October and November, the country’s crude oil production volumes were 41.026 million barrels, 38.406 million barrels, 38.06 million barrels and 38.247 million barrels respectively.
