Nigeria's Crude Petroleum Sector Grows 16.4% in Q1 2026

In the first quarter of 2026, Nigeria's crude petroleum sector experienced a growth of 16.4% year-on-year, according to the National Bureau of Statistics. This growth marks a return to expansion after a contraction of 10.5% in the corresponding period of 2025 and a steeper decline of 31.6% in the fourth quarter of 2025.

Despite this growth, Nigeria's average daily crude oil production fell to 1.55 million barrels per day (mbpd) in Q1 2026, down from 1.62 mbpd in Q1 2025 and 1.58 mbpd in the previous quarter. The crude petroleum and natural gas industry generated ₦4.27 trillion in nominal output during the quarter, an increase of ₦601.15 billion from ₦3.67 trillion in Q1 2025.

However, growth was uneven across the extractive industries, with coal mining contracting by 15.0% and metal ore shrinking by 6.24%. The crude petroleum sector remains a primary driver of growth, contributing 3.86% to Nigeria's nominal GDP in Q1 2026.