Nigeria’s active oil rig count rose by 20 percent in the first seven months of 2026, reaching 18 rigs in July from 15 in January. This increase in drilling activity signals a recovery in the upstream sector following a period of underinvestment. While crude production dipped slightly to 1.546 million barrels per day in July due to operational challenges at the Erha and Akpo fields, output remains consistently above the 2025 average and the country’s OPEC quota. This sustained production is critical for supporting fiscal revenue, government budgets, and foreign exchange inflows.