MassiveIndustry

(Tue, 18 Nov 2025) Oil and natural gas production is a mainstay of Nigeria’s economy: fossil fuel revenues are the country’s primary source of foreign exchange and fluctuations in crude oil price affect its economy. However, Nigeria also experiences sporadic supply disruptions stemming from crude oil theft and pipeline vandalism. Since 2020, disruptions and reduced investment in upstream development have led to a significant decline in crude oil production. Although crude oil output has modestly recovered since its low in 2022, supply disruptions remain a significant and persistent downside risk to Nigeria’s production.