# Oil & Gas Industry in Nigeria

> Nigeria's oil and gas sector, centred on Niger Delta crude discovered at Oloibiri in 1956, remains the country's dominant export earner and a major driver of federal revenue even though it now contributes under 4% of real GDP. NUPRC reported crude output of roughly 1.7 million barrels per day by mid-2026, regulated since 2021 under the Petroleum Industry Act and state firm NNPC Limited.

**Category:** Economy & Business · **Updated:** 2026-07-26 19:36:35 · **Canonical:** https://nigeriastuff.org/a/oil-gas-industry

## Key facts
- **First commercial discovery:** Oloibiri, present-day Bayelsa State, 1956 (Shell-BP)
- **OPEC membership:** Joined 1971
- **National oil company:** NNPC Limited (incorporated 22 September 2021 under the Petroleum Industry Act)
- **Regulator (upstream):** Nigerian Upstream Petroleum Regulatory Commission (NUPRC)
- **Crude output:** ~1.56–1.735 million bpd, June 2026 (NUPRC)
- **Oil's share of real GDP:** 3.92% in Q1 2026 (NBS)
- **OPEC+ quota (2026):** 1.5 million bpd target; Nigeria produced 104% of quota in June 2026
- **As of:** 23 July 2026

## Sources
- Nigeria's Crude Oil Output Reaches 1.56 Million bpd, Highest Since April 2020 — IndexBox (citing NUPRC data) (https://www.indexbox.io/blog/nigerias-crude-oil-production-hits-six-year-high-in-june-2026/)
- Oil Sector Holds 3.92% of Nigeria's GDP in Q1 2026 — MyPetroCareer (citing NBS GDP report) (https://www.mypetrocareer.com/oil-sector-holds-3-92-of-nigerias-gdp-in-q1-2026/)
- History of NNPC in Nigeria — NNPC News (https://nnpcnews.com.ng/history-of-nnpc-in-nigeria/)
- NNPC Limited: Understanding the Hybrid Identity of Nigeria's National Oil Company — Afriwise (https://www.afriwise.com/blog/nnpc-limited-understanding-the-hybrid-identity-of-nigerias-national-oil-company)
- OPEC's Founding and Nigeria's Membership — EBSCO Research Starters (https://www.ebsco.com/research-starters/history/opec-founded)
- FACTSHEET: Nigeria rebases its economy again – here's what sets it apart — Africa Check (https://africacheck.org/fact-checks/factsheets/factsheet-nigeria-rebases-its-economy-again-heres-what-sets-it-apart)

_NigeriaStuff.org — free encyclopedic reference on Nigeria. Full article at the canonical URL above._