Nigeria records setback in oil revenue, loses 2.04m barrels in half-year

By Adewale Sanyaolu

Nigeria has recorded a setback in its oil revenue target for 2025, posting a loss of 2.04 million barrels of oil in the first half of the year (H1 2025).

This is based on trends of crude oil losses year-to-date July 2025, released by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).

The latest statistics are associated with crude oil losses from theft and metering issues, which dropped to their lowest levels in nearly 16 years.

According to the report, in July 2025, daily losses stood at 9,600 barrels per day (bpd), the lowest figure since 2009 when losses dropped to an all-time low of 8,500 bpd.