<Tr> <Td> </Td> <Td> This section's factual accuracy is disputed . Relevant discussion may be found on Talk: Petroleum industry in Nigeria . Please help to ensure that disputed statements are reliably sourced . (May 2008) (Learn how and when to remove this template message) </Td> </Tr> <P> Nigeria's total petroleum refining capacity is 445,000 barrels (70,700 m) per day, however, only 240,000 barrels (38,000 m) per day was allotted during the 1990s . Subsequently, crude oil production for refineries was reduced further to as little as 75,000 barrels (11,900 m) per day during the regime of Sanni Abacha . There are four major oil refineries: the Warri Refinery and Petrochemical Plant which can process 125,000 barrels (19,900 m) of crude per day, the New Port Harcourt Refinery which can produce 150,000 barrels (24,000 m) per day (there is also an' Old' Port Harcourt Refinery with negligible production), as well as the now defunct Kaduna Refinery . The Port Harcourt and Warri Refineries both operate at only 30% capacity . </P> <P> It is estimated that demand and consumption of petroleum in Nigeria grows at a rate of 12.8% annually . However, petroleum products are unavailable to most Nigerians and are quite costly, because almost all of the oil extracted by the multinational oil companies is refined overseas, while only a limited quantity is supplied to Nigerians themselves . </P> <P> Nigeria is Africa's largest oil producer and has been a member of the Organization of Petroleum Exporting Countries since 1971 . The Nigerian economy is heavily dependent on the oil sector, which, accounts for over 95 percent of export earnings and about 40 percent of government revenues, according to the International Monetary Fund . According to the International Energy Agency, Nigeria produced about 2.53 million barrels (402,000 m) per day, well below its oil production capacity of over 3 million barrels (480,000 m) per day, in 2011 . </P>

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