Wednesday, February 21, 2024

Video - Drop in oil production leaves government budget of Nigeria under stress

Despite missing OPEC's 1.5 million barrels per day target, Nigeria set ambitious sights in 2024, eyeing a daily production target of 1.7 million barrels. But the year is off to a rocky start. January 2024 oil production fell to 1.42 million barrels per day, a drop of 3,000 barrels per day from the previous month. Experts worry that the consequences could be dire.


Related story: NNPC has no plans to raise petrol prices after devaluation


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