When did Nigeria first export oil?
Emily Baldwin
Updated on March 24, 2026
When did Nigeria first export oil?
Oil was first discovered in Oloibiri, in Nigeria’s Bayelsa State, in 1956….Nigeria’s Independence Day.
| Population (million inhabitants) | 213.40 |
|---|---|
| Value of exports (million $) | 37,984 |
| Value of petroleum exports (million $) | 27,730 |
| Current account balance (million $) | -17,074 |
| Proven crude oil reserves (million barrels) | 36,910 |
Where was the first commercial discovery of oil in Nigeria?
Oloibiri
Oil was discovered in Nigeria in 1956 at Oloibiri in the Niger Delta after half a century of exploration. The discovery was made by Shell-BP, at the time the sole concessionaire. Nigeria joined the ranks of oil producers in 1958 when its first oil field came on stream producing 5,100 bpd.
Who is the richest oil dealer in Nigeria?
2016 Billionaires NET WORTH Femi Otedola of Nigeria is the controlling shareholder of publicly traded Forte Oil, an oil marketing and power generation company. Originally a Nigerian subsidiary of British Petroleum (BP), Forte Oil has more than 500 gas stations across the country.
Which is the largest oil producing state in Nigeria?
The nine top oil producing states in Nigeria are:
- Akwa Ibom- the largest oil producer with 31.4% (504,000 BPD)
- Delta – 21.56% (346,000 BPD)
- Rivers – 21.43% (344,000 BPD)
- Bayelsa – 18.07% (290,000 BPD)
- Ondo – 3.74% (60,000 BPD)
- Lagos – 2.64% (40,000 BPD)
- Edo – 2.06% (33,000 BPD)
- Imo-1.06 % (17,000 BPD)
When was the first refinery in Nigeria built?
The Warri Refinery, the first Nigerian government wholly owned refinery was commissioned in 1978. It was built to process 100,000 barrels of crude oil per day but was later de-bottlenecked to process 125,000 barrels per day in 1987.
Who built the first refinery in Nigeria?
the Shell-BP Petroleum Development Company
Shortly after independence, the Shell-BP Petroleum Development Company saw an opportunity to meet the product needs of the country. It embarked on a project to build the first refinery in the country near Port Harcourt. The 38,000 barrels per day (bpsd) Shell-BP Refinery was completed and commissioned in 1965.
Which oil company is the best in Nigeria?
Top ten oil and gas companies in Nigeria!
- Exxon Mobil. Exxon Mobil is the top oil company in the world; its operations are related to various sources of oil, gas and alternative energy.
- Chevron.
- Statoil.
- Shell.
- Nigerian Agip Oil Company Limited.
- Petrobras.
- Total.
- Hardy Oil and Gas Plc.
Who is the owner of Dangote Refinery?
Aliko Dangote
A giant oil refinery complex being built in Nigeria by a company owned by Aliko Dangote, Africa’s richest person, will cost more than double the amount originally projected.
Who Built Nigeria refineries?
Port Harcourt Refinery, was built in 1965 under the then Prime Minister, Alhaji Abubakar Tafawa Balewa (1912-1966; GCFR). It was commissioned, operated and managed by SHELL BP. The capacity was 35,000 barrel per day. However, its ownership passed to the Federal Government in 1970 under General Yakubu Gowon (85; GCFR).
Which is the first refinery in Nigeria?
The Warri Refinery
The Warri Refinery, the first Nigerian government wholly owned refinery was commissioned in 1978. It was built to process 100,000 barrels of crude oil per day but was later de-bottlenecked to process 125,000 barrels per day in 1987.
