Nigerian Oil Regulator Calls 1.84mbpd Output ‘Remarkable Feat’
Nigeria’s daily crude oil production has surged to 1.84 million barrels per day (mbpd), the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says, describing it as a “remarkable feat” on the path to even higher output.
The announcement was made during a meeting on Wednesday, when NUPRC Chief Executive Oritsemeyiwa Eyesan visited the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, at the ministry’s headquarters in Abuja.
Africa’s biggest oil producer has seen its production fall in recent years from a peak of 2.58mbpd in 2010.
Edun commended the commission for steering the petroleum sector to this new high. “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,” he said.
While praising the current numbers, the finance minister urged the NUPRC to keep pushing the industry toward a target of 2 mbpd. Acknowledging the unfortunate ongoing conflict in the Middle East, Edun noted that President Tinubu had mandated increased production even before the crisis began.
“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 2mbpd,” he said.
In response, Eyesan assured the minister that the commission is prepared to do more. She said a prior dip in production during February was caused by turnaround maintenance and unfortunate incidents at strategic facilities. “But all that has been fixed and we are seeing production ramping up,” she confirmed.
Beyond current production levels, she provided an optimistic outlook for the sector’s immediate future. She noted that the 2025 licensing round has now advanced to the technical and financial stages.
The NUPRC chief highlighted provisions in the Petroleum Industry Act—specifically the “drill or drop” policy—which empowers the Commission to revoke leases on dormant acreages. According to Eyesan, this policy is already bearing fruit, with indigenous companies showing impressive capacity and some newly offered acreages expected to see production in as little as a year.
Additionally, Eyesan confirmed that the Commission has fully complied with Executive Order 9 of 2026. The order directs the immediate suspension of the 30% Frontier Exploration Fund deduction from profit oil and gas, along with other management fees, ensuring direct remittance into the Federation Account.
