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Nigeria’s Crude Earnings Defy Global Market, Plunge N1.75tn Q1

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Nigeria Earns N12.4tn from Crude Oil in 11 Months – Report

Despite a rise in global oil prices, widely traceable to the Middle East crisis, data from the National Bureau of Statistics (NBS) has shown that Nigeria’s crude oil exports fell by N1.75tn in the first quarter of 2026 .

The NBS, in its latest Foreign Trade in Goods Statistics report for Q1 2026, said crude oil exports declined to N11.20tn from N12.96tn recorded in the corresponding quarter of 2025.

“Crude oil exports in Q1 2026 were valued at N11.20tn; the value decreased by 13.53 per cent from N12.96tn in Q1 2025 and increased by 15.45 per cent from N9.70tn in Q4 2025,” the bureau stated.

The decline translates to a year-on-year loss of N1.75tn in crude export earnings, although crude receipts rose by N1.50tn compared with the fourth quarter of 2025. The data suggests that the rebound from the previous quarter was not strong enough to match the level recorded in early 2025.

Crude oil remained Nigeria’s dominant export product during the period, but its weight in the country’s export basket weakened.

The commodity accounted for 52.92 per cent of total exports in Q1 2026, down from 62.89 per cent in Q1 2025. This means crude oil still generated more than half of Nigeria’s export earnings, but its share fell by almost 10 percentage points within one year.

Total exports rose to N21.17tn in Q1 2026 from N20.60tn in Q1 2025, representing a 2.77 per cent increase. This shows that overall export growth was not driven by crude oil but by stronger earnings from non-crude oil exports and other petroleum products.

Non-crude oil exports rose to N9.97tn in Q1 2026 from N7.64tn in Q1 2025, while non-oil exports stood at N3.19tn. Other oil product exports also increased sharply to N6.78tn from N4.48tn, representing a 51.49 per cent rise.

The report said, “Crude oil remained Nigeria’s major exported commodity in the first quarter of 2026, with a value of N11.20tn, representing 52.92 per cent of total exports.”

The figures indicate that Nigeria’s export structure remained heavily dependent on petroleum, even as crude oil underperformed year-on-year. Mineral products accounted for N18.16tn, or 85.77 per cent of total exports, followed by products of the chemical and allied industries at N1.39tn, or 6.58 per cent.

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India was Nigeria’s biggest export destination in the quarter, receiving goods valued at N2.77tn, or 13.09 per cent of total exports. France followed with N1.97tn, the Netherlands with N1.95tn, Spain with N1.63tn, and the United States with N1.18tn. Together, the five countries accounted for 44.84 per cent of Nigeria’s total exports.

Regionally, Europe was Nigeria’s largest export market, with goods valued at N7.93tn, or 37.44 per cent of total exports. Asia followed with N6.42tn, or 30.31 per cent, while Africa received N4.06tn, or 19.19 per cent.

Despite the fall in crude earnings, Nigeria posted a stronger trade surplus of N7.55tn in Q1 2026, compared with N1.71tn in Q4 2025. The bureau attributed the improvement mainly to lower imports and higher crude oil exports on a quarter-on-quarter basis.

Imports fell to N13.62tn in Q1 2026 from N16.64tn in Q1 2025 and N17.25tn in Q4 2025. The lower import bill helped strengthen the trade balance, even though crude earnings remained weaker than the level recorded a year earlier.

The decline came despite rising international crude oil prices in March 2026, driven by escalating geopolitical tensions in the Middle East and concerns over disruptions to global oil supply routes.

According to the US Energy Information Administration, Brent crude prices climbed sharply during the first quarter of 2026, crossing the $100 per barrel mark on March 12 and closing the quarter at around $118 per barrel after renewed military tensions in the Middle East and fears surrounding the Strait of Hormuz.

The decline in crude oil export earnings further coincided with lower crude oil production in the first quarter of 2026, suggesting that weaker output may have offset the benefits of higher international oil prices during the period.

The NBS, in its latest Gross Domestic Product report, noted, “The nation in the first quarter of 2026 recorded an average daily oil production of 1.55 million barrels per day (mbpd), lower than the daily average production of 1.62 mbpd recorded in the same quarter of 2025 and lower than the fourth quarter of 2025 production volume of 1.58 mbpd.”

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Group Demands Fair Share of NNPC Jobs for Ogoni Oil Exploration

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A call has gone to President Bola Tinubu, the Federal Government, the Ogoni Dialogue and Consultation (ODC) and the Nigerian National Petroleum Company Limited (NNPC Ltd) to ensure the inclusion of persons with disabilities in ongoing discussions on the future of Ogoniland.

While making the call, the Ogoni Association of Persons Living with Disabilities (OGAPWD) also demanded disability-inclusive employment opportunities and greater participation in development programmes linked to the proposed resumption of oil production in the area.

Speaking during a press briefing in Port Harcourt, OGAPWD President-General, Baridapdoo Ngo, said dialogue on Ogoniland’s future would be incomplete without the representation of persons with disabilities.

“We are not opposed to dialogue. We are not opposed to development. We oppose exclusion, discrimination and decisions that determine our future without our participation,” he said.

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Ngo urged the ODC leadership to include nominated representatives of the association in its dialogue structures and relevant committees, stressing the need for accessible meeting venues and communication support.

He said persons with disabilities should participate meaningfully in discussions on environmental remediation, employment, security and community development rather than being invited merely for ceremonial purposes.

He pointed out that “Inclusion is not charity. Representation is not a favour. Accessibility is not a privilege. These are matters of rights, dignity and equal citizenship”.

On employment, OGAPWD expressed concern over reports that NNPC Ltd was offering 40 positions connected with Ogoni engagement under the Confidence Building Measures (CBM).

The association called on the national oil company to clarify the recruitment criteria and explain how qualified applicants with disabilities were being considered.

It demanded that at least five per cent of the 40 positions be allocated to qualified Ogoni applicants with disabilities, citing Section 29 of the Discrimination Against Persons with Disabilities (Prohibition) Act, 2018.

OGAPWD also requested a formal meeting with NNPC Ltd and asked the company to respond to its concerns within 15 days.

The association said it supported a responsible and lawful resumption of oil production, provided the process prioritised environmental protection, transparency, public health and the rights of affected communities.

It further urged the Federal Government to address the demand for Bori State through the appropriate constitutional process, describing the issue as central to its position on Ogoni self-determination.

OGAPWD appealed to traditional rulers, political leaders, youth organisations and community stakeholders to ensure that persons with disabilities benefited from employment, skills acquisition, business support and other development initiatives.

The association urged the Federal Government, ODC and NNPC Ltd to take concrete steps to ensure that persons with disabilities were represented in decisions affecting Ogoniland’s political, economic and environmental future.

“Our message is simple: no exclusion in dialogue, no discrimination in employment, no development without inclusion,” Ngo said.

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200 Imo Teachers Benefit from NCDMB’s Effective Curriculum Training

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The Nigerian Content Development and Monitoring Board (NCDMB), has flagged off a five-day capacity building programme for 200 primary and secondary school teachers drawn from all local government areas of the state.

Themed “Empowering Teachers for Effective Curriculum Delivery through Digital Innovation, Modern Pedagogy and Professional Excellence,” the training is centred on four pillars, namely, “Digital Literacy, ICT Skills and Digital Teaching Tools” (Pillar 1); Interactive Lesson Preparation, Presentation, and Learner Engagement” (Pillar 2); “NERDC [National Educational Research and Development Council] Curriculum Alignment and Competency-based Lesson” (Pillar 3), and “Positive Classroom Management, Discipline and Learner Support” (Pillar 4).

In his opening remarks at the event, the Executive Secretary of the NCDMB, Engr. Felix Omatsola Ogbe, represented by Assistant Manager, Institutional Relations and Entrepreneurship Development (IRED), in the Capacity Building Directorate (CBD) of the Board, Ms. Khadijah Jekhine, said the programme reflects NCDMB’s firm belief that sustainable Nigerian Content development begins with quality education and skilled human capital.

He described teachers as “the primary multipliers of knowledge,” adding, “When we invest in you – equipping you with digital tools, modern teaching methods, and professional excellence – we invest in thousands of young Nigerians who will become the engineers, technicians, innovators, and professionals our oil and gas industry and national economy urgently needed.”

The NCDMB boss explained that the goal of the Board is to strengthen the capacity of the teachers for effective curriculum delivery so that classroom learning becomes more practical, engaging, and aligned with the demands of the future of work. He enjoined the teachers to ensure that what they gained from the training cascades to their students, pupils and colleagues, thus raising the quality of education and building the foundation for greater indigenous participation in the oil and gas industry.

He expressed appreciation to the Imo State Government, the State Ministry of Primary and Secondary Education and all collaborating partners for the strong partnership that has made the programme possible.

The programme facilitator, Dr. Anayo Nzeribe, General Manager, R&M Networks Limited, said the intervention of the NCDMB in the educational system in the State was of inestimable value as it complements the Government’s efforts to improve access to quality education and provides essential facilities for learning and teaching.

He announced that the Board has made available digital tools and other teaching aids for distribution, that each of the 200 participants would receive a laptop and accessories, among other things. In addition, each of them would receive what he termed “a handsome stipend” at the end of the training programme on Saturday (17th October).

Dr. Nzeribe, on behalf of his company and the joyous teachers, expressed profound gratitude to the NCDMB for the initiative and assured that the tools donated would be put into adequate use to enhance teaching in the State.

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The State Commissioner for Primary and Secondary Education, Professor Bernard-Thompson Ikegwuoha, represented by an official of the Ministry, Dr. (Mrs.) Benedicta Chinonye Okorie, was similarly appreciative of the contributions of the NCDMB to educational advancement in the State.

The Owerri capacity building initiative is following close on the heels of a Train-the-Trainer programme organised by the Board in Yenagoa, Bayelsa State, last month, for 88 teachers of vocational and technical schools. That programme centred on industry-relevant technical skills, digital technologies, and competency-based teaching methodologies.

On the NCDMB team at the Owerri event were the Zonal Coordinator for Imo and Abia States, Dr. Emma Ohaere, and other staff of the Owerri Liaison Office, as well as Ms. Salamatu Ibrahim, Assistant Manager, Corporate Communications Division (CCD), among others.

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EndSARS Memorial: ‘Nigerians Still Deserve Answers’ – Atiku

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PDP Threatens INEC Over Delay In Presidential Election Results

Former Vice President and African Democratic Congress (ADC) presidential candidate, Atiku Abubakar, has said Nigerians still deserve answers six years after the October 20, 2020, EndSARS shooting at the Lekki Toll Gate in Lagos.

Atiku made this known in a statement on Tuesday marking the sixth anniversary of the incident, in which he called for accountability over the shooting and criticised the Federal Government’s handling of the unresolved questions surrounding the tragedy.

He questioned who gave the order for the operation against protesters, insisting that the country could not continue to commemorate the victims without addressing the circumstances surrounding the incident.

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Atiku also recalled President Bola Tinubu’s remarks in October 2020, when he questioned the circumstances surrounding the casualties recorded during the shooting.

Tinubu had asked: “How were they there? How long were they there? What kind of characters are they?”

According to Atiku, the remarks appeared to focus on questioning the victims rather than demanding answers from those responsible for the violence against peaceful protesters.

He said the anger surrounding the anniversary reflected the unresolved grief of affected families and the distrust of young Nigerians who had demanded accountability and a better future.

“The APC has governed Nigeria through these six years. It cannot keep asking Nigerians to remember the dead while refusing to confront the unanswered questions,” Atiku said.

The ADC presidential candidate also linked the unresolved questions surrounding the Lekki shooting to the economic hardship confronting Nigerians, particularly young people struggling with rising living costs.

Citing petrol prices of ₦1,405 per litre, Atiku said transportation costs were making it increasingly difficult for Nigerians to afford basic necessities, including food, rent, education and commuting to work.

He illustrated the situation with the account of a young woman who reportedly resigned from her job because her salary could no longer cover her transportation expenses.

According to Atiku, one of his aides shared the woman’s experience earlier on Tuesday.

The woman reportedly said: “The pay no longer covers transport. Everything in Nigeria just dey increase in price. Feels like I’m working for Bolt guys.”

Atiku described the experience as an example of the difficulties faced by employed Nigerians whose earnings could no longer adequately cover the cost of getting to work.

He argued that the economic situation was affecting not only unemployed Nigerians but also workers struggling to survive on salaries weakened by rising costs.

The former vice president also highlighted his Economic Recovery Plan, which he said was designed to make Nigeria more affordable.

The proposed measures include providing support tied to fuel refined in Nigeria, passing savings on to consumers, increasing local production to create jobs, protecting minimum-wage earners, supporting students and cutting government waste rather than imposing additional taxes.

Atiku maintained that young Nigerians deserved answers about the Lekki shooting, a government that protects human life and an economy in which employment could provide a path to a better standard of living.

He added that Nigerians were entitled to question the APC’s record on accountability and economic opportunities six years after the incident.

The EndSARS protests began in October 2020, with young Nigerians demanding an end to police brutality and reforms to policing in the country. The shooting at the Lekki Toll Gate on October 20 became one of the most prominent events associated with the protests.

 

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