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Recent Blogs
Jul
15
Crude Oil Production Hits 74-Month High, Surpasses OPEC Quota in June
Nigeria’s crude oil production averaged 1.56 million barrels per day in June 2026 — the country’s highest monthly output in 74 months, and enough to push it past the production quota assigned by the Organisation of the Petroleum Exporting Countries (OPEC). Crossing the OPEC quota is a symbolic and practical milestone. For years, Nigeria chronically […]
Jul
15
Naira Closes at N1,381/$ as External Reserves Hit $51.74bn
The naira weakened at the official foreign exchange market last week, closing at N1,381.70 to the US dollar — even as Nigeria’s external buffers strengthened to multi-year highs. Foreign reserves climbed to $51.74 billion, the strongest level in years, giving the Central Bank of Nigeria considerably more firepower to smooth volatility in the FX market […]
Jul
15
Solid Minerals Exports Climb to N354bn as Sector Reform Gains Traction
Nigeria’s solid minerals exports climbed to N354 billion in 2025 — roughly triple the N117.29 billion recorded in 2023 — extending a steep growth run for a sector long overshadowed by oil. Revenue flowing to the Federation Account told an even sharper story, rising past N70 billion, a 337.5 per cent increase on the N16 […]