Monthly oil production in Nigeria 2019-2022
Nigeria is one of the largest oil producers in the world. At the beginning of 2020, its daily production exceeded two million barrels. Nigeria's oil production decreased to 1.14 million barrels per day during January 2021, the lowest value recorded in the last years. This figure experienced a decrease due to the impact of COVID-19 and the related lower demand, which also led prices to sink. The largest drop in gasoline prices was registered in April 2020, when the average price decreased by ten percent compared to the previous month. Similarly, diesel prices paid by consumers in Nigeria recorded the most significant drop of the year in May 2020.
