Nigeria recorded N5.14 trillion from crude oil sales in the first three months of 2023, from N4.9 trillion realised over the last quarter according to newly
“Certain technologies have been deployed which help to monitor and report. There has also been more collaboration between security forces, community groups and the government agencies in the sector, ensuring that overall, production is ramped up and more crude arrives at its destination and is sold for the benefit of the economy,” Olorunmaiye said.
Under the new plan, Nigeria, Congo and Angola agreed that the highest production volumes of the last six months be used as the basis for the determination of their 2024 production quota, subject to a review in November at the 2nd annual meeting of the JMMC. “This will be complemented by a condensate of about 400KBD ultimately upping Nigeria’s crude oil and condensate production to about two million barrels per day in 2024.”
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