The first quarter of 2025 marked a standout period for Nigeria’s exploration and production (E&P) companies. Crude oil output rose by 8.1 percent year-on-year to 1.67 million barrels per day, up from 1.54 million bpd in Q1 2024, reflecting improved operational stability and upstream activity.
Nigeria’s active rig count climbed to 38 during the period, its highest in recent years, underscoring the renewed momentum in the sector. With international oil majors such as Mobil, Shell, and Agip having exited the onshore landscape in 2024, indig
