Tinubu Says Nigeria Has Reduced Dependence on Oil Revenue

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Tinubu Says Nigeria Has Reduced Dependence on Oil Revenue

ABUJA — President Bola Tinubu says Nigeria has reduced its dependence on oil revenue and intends to go further. He spoke through Vice President Kashim Shettima at the fifth anniversary of the Nigerian Upstream Petroleum Regulatory Commission. Minister of State for Petroleum Resources Heineken Lokpobiri said output is about 1.7 million barrels per day and reserves exceed 37 billion barrels. The regulator said more than $57 billion in field development plans have been approved since 2024.

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