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Nigeria Records $3.71 Bln Oil Income as Middle East Tensions Drive Price Spike: Media

Nigeria Records $3.71 Bln Oil Income as Middle East Tensions Drive Price Spike: Media

Sputnik Africa

Nigeria Records $3.71 Bln Oil Income as Middle East Tensions Drive Price Spike: Media“Nigeria reaps the benefits of the Iran war," a local news outlet said... 03.05.2026, Sputnik Africa

2026-05-03T11:51+0200

2026-05-03T11:51+0200

2026-05-03T13:26+0200

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Nigeria Records $3.71 Bln Oil Income as Middle East Tensions Drive Price Spike: Media“Nigeria reaps the benefits of the Iran war," a local news outlet said, citing the Nigerian Upstream Petroleum Regulatory Commission. The two-month oil income was driven primarily by price surges, not production gains, it added.March Performance:🟠Production: 1.55M barrels/day (250K below 1.8M budget target)🟠Daily revenue: $147.30M🟠Daily surplus: +$27.80M vs. budget🟠Monthly windfall: $862M (31 days)April Performance:🟠Production: 1.7M barrels/day (peaked at 1.8M)🟠Daily revenue: $216.0M🟠Daily surplus: +$95.98M vs. budget🟠Monthly windfall: $2.88B (30 days)This underscores Nigeria's short-term fiscal gains alongside its ongoing exposure to global oil price swings, where higher crude revenues lift government coffers, the news outlet said.Subscribe to @sputnik_africa Sputnik Africa | X

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