OPEC reports Bonny Light crude rose 45.4% to $104.60/bbl in March, with Nigeria's oil production averaging 1.46mbpd that month.
Higher oil prices, structural reforms, and improved monetary conditions are supporting Nigeria's growth, but production remains below recent levels despite a rise in rig count from 15 to 17.
While external indicators and current account surplus have improved, limited production growth may increase domestic fuel and food prices in Nigeria's market-linked post-subsidy environment.
Is the Naira's newfound stability sustainable, or just a temporary effect of collapsing import demand?
If Nigeria's economy is booming from an oil windfall, why are its citizens facing unprecedented economic hardship?
With oil revenue soaring, why does Nigeria's debt service exceed its combined budget for health, education, and infrastructure?
Can Nigeria's ambitious industrial policy succeed while foreign investment in its manufacturing sector continues to plummet?
Can crucial economic reforms truly succeed amid rising violence, eroding public trust, and deepening political instability?