Nigeria’s crude oil and condensate production averaged 1.62 million barrels per day in the first four months of 2021.

NNPC data showed that cumulatively, Nigeria produced 195.14 million barrels from January to April, 2021.

According to NNPC, January’s production was 49. 258 million barrels (1.58 million barrels per day), while February’s production was 45.357 million barrels (1.62mb/day). In March, production was 51.225 million barrels (1.65mb/day) while April production was 49.3 million barrels (1.63mb/day).

In preparation for the 2022 Budget presentation, the Senate had last week passed the 2022-2024 Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP).

The Senators approved Federal Government’s revenue projection of N8.36 trillion; and proposed expenditure of N13.98 trillion.

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