Nigeria produced 402.86 million barrels of crude oil valued at about N52.12 trillion between January and September 2026.

The estimate is based on monthly average production rates, prevailing crude oil prices and an exchange rate of N1,331 to the dollar.

The nine-month output was calculated at approximately $39.15 billion before conversion to the naira.

The figures cover crude oil production alone and do not include condensate and gas.

According to the breakdown, January accounted for 45.26 million barrels, February 36.68 million barrels, March 42.78 million barrels, April 44.70 million barrels and May 47.43 million barrels.

The estimated dollar value was calculated using the corresponding monthly Bonny Light crude oil prices.

The estimated $39.15 billion was multiplied by the exchange rate of N1,331 to the dollar, producing approximately N52.11 trillion when rounded.

On a monthly basis, the estimated naira value was highest in April at about N7.54 trillion and lowest in February at about N3.53 trillion.

The figures represent the estimated gross value of crude oil produced during the period by all producers, including the Nigerian National Petroleum Company Limited, international oil companies and indigenous producers, rather than the actual revenue received by the Federal Government.