The Nigerian Upstream Petroleum Regulatory Commission has announced that the country’s daily crude oil production has increased to about 1.8 million barrels per day.
Following this development, the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, praised the commission for the improvement.
This was highlighted in a statement issued by the NUPRC Head of Media and Corporate Communication, Eniola Akinkuotu, on Friday. According to Akinkuotu, Edun made the commendation during a visit by the Chief Executive of the NUPRC, Oritsemeyiwa Eyesan, to the headquarters of the Federal Ministry of Finance in Abuja on Thursday.
Edun said, “It is heartening that you can tell us that you are doing 1.84 million barrels per day. That is fantastic news. That is totally in line with the mandate of President Bola Tinubu. Clearly, you have started on a very good note. Please keep it up.”
The finance minister acknowledged the unfortunate war in the Middle East but noted that Tinubu had directed an increase in production even before the crisis. He urged the NUPRC to further boost output to reach 2 mbpd, adding, “I wish you continued success. What matters is not just reaching certain heights but sustaining it. We don’t want any stopping along the way. The trajectory should be maintained, and of course the magic figure is 2 mbpd.”
Earlier, Eyesan stated that recent daily crude oil production had reached 1.84 mbpd. “We are doing 1.84 million barrels per day. That is a remarkable feat, but I am sure we will do more,” she assured the minister.
The NUPRC chief attributed the February production dip to incidents at strategic facilities and turnaround maintenance, but confirmed that these issues have been resolved, leading to increased production.
Regarding the 2025 licensing round, Eyesan said the commission is now in the technical and financial evaluation stage and expressed optimism about the petroleum sector’s growth. She highlighted the “drill or drop” clause in the Petroleum Industry Act, which allows the commission to revoke leases of dormant acreages, noting that some of the new acreages could begin production within a year. She also praised the capacity of indigenous companies.
Eyesan further confirmed that the commission has fully complied with Executive Order 9 of 2026, which mandates the immediate suspension of the 30 per cent Frontier Exploration Fund deduction from profit oil and gas, along with other management fees, with direct remittance to the federation account.
The statement from the NUPRC indicates that oil production, including crude and condensate, rose from 1.48 mbpd in February to 1.84 mbpd in March.
