Nigeria failed to meet its 2025 crude oil production target, producing 530.41 million barrels of crude, well below the 766.5 million barrels projected in the year’s budget, according to data from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). The shortfall of 166.86 million barrels occurred despite the country earning approximately N55.5 trillion from crude oil sales, up from N50.88 trillion in 2024. Nigeria started strongly in January with 47.7 million barrels, but output dipped to 41.02 million barrels in February. The third quarter saw another slump, with a yearly low of 41.69 million barrels in September, before slightly rebounding in the final months of the year. Part of Nigeria’s crude production has also been used to service loans.