Nigeria’s oil output rebounds to 1.84mbpd as Edun commends NUPRC

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By Obas Esiedesa

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Nigeria’s crude oil production has climbed to about 1.84 million barrels per day (mbpd), marking a significant rebound in output, as the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, commended the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) for the improvement.

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The Commission, in a statement on Friday, explained that Edun gave the commendation in Abuja when the Commission Chief Executive, Mrs. Oritsemeyiwa Eyesan, visited the Federal Ministry of Finance.

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Describing the development as “fantastic news,” the minister said the current production level aligns with the mandate of President Bola Tinubu to ramp up oil output.

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“It is heartening that you can tell us that you are doing 1.84 million barrels per day. That is totally in line with the President’s directive,” Edun said, urging the Commission to sustain the momentum.

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He stressed the need to push production further to meet the government’s target of two million barrels per day, noting that consistency in output remains critical.

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“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 2mbpd,” he added.

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Edun also noted that although the ongoing Middle East crisis is unfortunate, the Federal Government had already set in motion plans to boost production prior to the development.

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Earlier, Eyesan confirmed that Nigeria’s daily crude oil production had recently reached 1.84mbpd, expressing optimism that output would increase further.

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“We are doing 1.84 million barrels per day. That is a remarkable feat, but I am sure we will do more,” she said.

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She attributed the earlier dip in production recorded in February to disruptions at key facilities and scheduled turnaround maintenance, adding that the issues had since been resolved.

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“All that has been fixed and we are seeing production ramping up,” Eyesan noted.

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On the 2025 licensing round, the NUPRC boss disclosed that the process had advanced to the technical and financial evaluation stage, with strong participation from indigenous operators.
She said some of the oil blocks on offer could begin production within a year, highlighting the growing capacity of local firms.

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Eyesan also pointed to reforms under the Petroleum Industry Act, particularly the “drill or drop” provision, which empowers the Commission to revoke dormant oil leases, as a driver of sector growth.

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In addition, she revealed that the Commission had fully complied with Executive Order 9 of 2026, which mandates the suspension of the 30 per cent Frontier Exploration Fund deductions from profit oil and gas, as well as other management fees, with direct remittance to the Federation Account.

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The latest production figures signal a recovery in Nigeria’s oil sector and raise expectations of improved revenue performance if output is sustained and further increased.

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NUPRC had in March reported that oil and condensate production declined to 1.48 million barrels per day in February from 1.62 million barrels per day recorded in January.

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