Nigeria oil output rises to 1.8 million barrels per day

Nigeria has increased its oil production to 1.8 million barrels per day, providing the government with essential fiscal breathing space to support vulnerable households while maintaining its reform momentum. Finance Minister Wale Edun, speaking in the United States during the International Monetary Fund and World Bank Group spring meetings, stated that the rise in crude output is a positive development for the nation's revenue and foreign exchange stability.

"It gives us that extra fiscal space within which to look at ... helping the vulnerable households at this time."