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Find all the economic and financial information on our Orishas Direct application to download on Play StoreNigeria's oil production crossed the 1.8 million barrels per day threshold in July, according to the national regulator. This revival comes as the country remains dependent on crude revenues, while coping with the widespread theft and lack of investments that are weighing on the sector
.This West African country, Africa's largest oil producer, depends on crude oil for nearly two-thirds of government revenue and over 80% of foreign currency earnings, making production gains essential to stabilizing its economy.
However, widespread oil theft and years of underinvestment have reduced production and strained public finances in recent years.
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