Nigeria's oil sector contracted by 13.38% year-on-year in the fourth quarter of 2022, after a 22.67% drop in the previous quarter, It marks the 11th consecutive quarter of declines, due to the unprecedented theft of its crude production from pipelines and fields and lingering instability in the Niger Delta region. The average daily crude oil production stood at 1.34 million barrels per day, up from 1.20 mbps in Q3 but down from 1.50 mbps a year ago. source: National Bureau Of Statistics, Nigeria

GDP Growth Oil Sector in Nigeria averaged -4.92 percent from 2011 until 2022, reaching an all time high of 24.21 percent in the first quarter of 2011 and a record low of -26.04 percent in the first quarter of 2022. This page includes a chart with historical data for Nigeria GDP Growth Oil Sector. Nigeria GDP Growth Oil Sector - values, historical data and charts - was last updated on June of 2023.

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Nigeria GDP Growth Oil Sector