Nigeria’s gas output rises 2.9%

Adakoriko Adaviriku Adumaza


Nigeria's gas output saw a significant increase of 2.9% to 226,747.05 million standard cubic feet (MSCF) in November 2024, compared to the previous month. On a year-on-year basis, the gas output rose marginally by 0.02% to 2,292,951 MSCF in the first 11 months of 2024 

Domestic gas consumption also increased by 1.6% to 606,658 MSCF, while gas exports rose by 6.9% to 829,156 MSCF. These numbers indicate a positive trend in Nigeria's gas production and utilization.

Interestingly, the oil sector continues to dominate the country's foreign exchange earnings, contributing an estimated 90%. However, the non-oil sector accounts for 94.43% of Nigeria's GDP, highlighting a paradox in the economy 

In terms of oil production, Nigeria saw a 13.3% increase in oil output, including condensate, to 1.7 million barrels per day in November 2024. This growth is a positive sign for the country's energy sector.

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