According to the Oil and Gas Journal (OGJ), Nigeria has nearly 36 billion barrels of proven oil reserves, making it the largest oil producer in Africa and the tenth largest producer of crude in the world.

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The January 2005 edition of Oil and Gas Journal reported that Nigeria produced 2.5 million barrels per day (bpd) in 2004 and was expected to increase production to 3 million bpd in 2006 and 4 million bpd by 2010.

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