Nigeria's Oil Exports Surge, Boosting Q2 2026 Earnings

In the second quarter of 2026, Nigeria's external position strengthened significantly, with export earnings increasing to $20.08 billion from $15.56 billion in the first quarter. Crude oil exports rose by 15.78% to $9.39 billion, while gas exports surged by 40.15% to $3.63 billion.

The Central Bank of Nigeria reported a current account surplus of $7.54 billion, a 67.93% increase from $4.49 billion in Q1 2026 and $5.17 billion in Q2 2025. This improvement was supported by a 66.24% rise in refined petroleum product exports to $3.94 billion and a 25.30% increase in non-oil exports to $3.12 billion.

Additionally, crude oil imports decreased from $1.39 billion in Q1 2026 to $0.58 billion in Q2. Tantita Security Services Nigeria Limited, led by High Chief Government Ekpemupolo, was appointed by the Federal Government to protect oil pipelines in the Niger Delta, contributing to enhanced security and reduced oil theft.

Nse Udoh, President General of the Niger Delta Progressive Alliance, emphasized the importance of pipeline surveillance in safeguarding critical infrastructure.