Nigeria Sees 4.2% Boost in Daily Crude Output, Reaching 1.54 Million Barrels Per Day

Nigeria's oil production experienced a 4.2 per cent increase, reaching 1.546 million barrels per day in March 2026, up from 1.483 mbpd in February, as reported by the Nigerian Upstream Petroleum Regulatory Commission.

This growth is further evident in the crude oil production, excluding condensate, which rose by 5.2 per cent to 1.382 mbpd in March from 1.313 mbpd in February, according to the commission's oil production status report.

Despite this improvement, Nigeria's oil production fell short of its Organisation of the Petroleum Exporting Countries quota of 1.5 mbpd for the third consecutive month, and also remained below the 1.84 mbpd benchmark set in the 2026 budget.

The lowest daily production recorded in March was 1.4 mbpd, while the highest reached 1.84 mbpd, as reported by the NUPRC.

Last week, the commission indicated that production had rebounded to 1.84 mbpd, a development commended by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun.

Edun described the development as "fantastic news" and noted that the current production level aligns with the directive of President Bola Ahmed Tinubu to ramp up oil output, saying "It is heartening that you can tell us that you are doing 1.84 million barrels per day.

He urged the commission to sustain the momentum, stressing the need to increase production further to meet the government's target of two million barrels per day, and noting that consistency in output remains critical, saying "What matters is not just reaching certain heights but sustaining it.

The commission's chief executive, Oritsemeyiwa Eyesan, confirmed that Nigeria's daily crude oil production had recently reached 1.84 mbpd, and expressed optimism that output would increase further, saying "We are doing 1.84 million barrels per day, that is a remarkable feat, but I am sure we will do more."

Eyesan attributed the dip in production recorded in February to disruptions at key facilities and scheduled turnaround maintenance, but noted that the issues had since been resolved, saying "All that has been fixed and we are seeing production ramping up."