The Dangote Group projects Nigeria’s crude oil production to rise to 1.72 million barrels per day (bpd) by the fourth quarter of 2026, targeting a full-year average of 1.62 million bpd. According to the group’s H1 2026 Economic Report, output is expected to climb steadily throughout the second half of the year, building on the 1.5 million bpd levels maintained since mid-2026. Furthermore, the report forecasts Brent crude oil to average $90 per barrel for 2026, with prices expected to moderate to $85 per barrel in the fourth quarter as geopolitical tensions ease. This growth outlook aligns with national efforts by the NUPRC and NNPC to boost export earnings and expand hydrocarbon production capacity.