Nigeria has reclaimed its position as top crude oil producer in Africa for May 2023.
The Organization of Petroleum Exporting Countries (OPEC) Monthly Market Report (MOMR) confirmed that Nigeria produced 1.184 million barrels of crude oil per daily in its report.
Next in rank was Libya which produced 1.158 million barrels per day.
The report also indicates that Nigeria’s economy had expanded by 2.4% year-on-year in the first quarter of 2023.
Meanwhile, the report attributes the slow growth of the economy to certain factors including a decline in crude oil output.
RN
