More Money for FG As NNPC Announces Increase in Oil Production After Discovery of New Oil Wells [Video]

• Nigeria’s crude oil production has increased, according to Nigerian National Petroleum Company Limited (NNPCL)
• The national oil company revealed that the latest production figures are now above N1.8 barrels per day
• The rise in oil production will be a welcome boost to the federal government seeking revenue for its budgetary allocation

Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

The Nigerian National Petroleum Company Limited (NNPCL) has announced an increase in Nigeria’s oil production.

This was disclosed in a statement signed by Olufemi Soneye, chief corporate communications officer NNPC Ltd, and released on Thursday, November 14.

In the statement, NNPC Limited said the feat was achieved in compliance with the mandate of President Bola Ahmed Tinubu.

As of April 2024, Nigeria’s oil production stood at 1.28 million barrels per day.

Nigeria’s …