| Barrels | Global Rank | |
|---|---|---|
| Oil Reserves | 37,070,000,000 | #10 in the world |
| Barrels per day | Global Rank | |
|---|---|---|
| Oil Production | 1,938,543 | #15 in the world |
| Oil Consumption | 428,000 | #37 in the world |
| Daily Surplus | +1,510,543 | |
| Oil Imports | 0 | |
| Oil Exports | 1,654,739 | |
| Net Exports | 1,654,739 |
See also: List of countries by Oil Reserves
Nigeria holds 37,070,000,000 barrels of proven oil reserves in the world as of 2016, ranking #10 in the world and accounting for about 2.25% of the world’s total oil reserves of 1,650,585,140,000.
Nigeria has proven reserves equivalent to 237.3 times its annual consumption levels. This means that, without Net Exports, there would be about 237 years of oil left (at current consumption levels and excluding unproven reserves).
See also: List of countries by Oil Consumption
Nigeria consumes 428,000 barrels per day (B/d) of oil as of the year 2016.
Nigeria ranks #37 in the world for oil consumption, accounting for about 0.44% of the world’s total consumption of 97,103,871 barrels per day.
Nigeria consumes 0.09 gallons of oil per capita every day (based on the 2016 population of 195,443,700 people), or 34 gallons per capita per year (1 barrels). [1 barrel = 42 US Gallons]
See also: List of countries by Oil Production
Nigeria produces 1,938,543 barrels per day of oil (as of 2016) ranking #15 in the world.
Nigeria produces every year an amount equivalent to 1.91% of its total proven reserves (as of 2016).