Finance Minister Wale Edun has praised the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) for increasing daily oil production to 1.84 million barrels. The commendation came during a meeting in Abuja with NUPRC Chief Executive Oritsemeyiwa Eyesan, according to a statement issued Friday by the commission's Head of Media and Corporate Communication, Eniola Akinkuotu. Edun described the production figure as "fantastic news" and said it aligned with President Bola Tinubu's mandate. He urged the commission to sustain the momentum toward the national target of two million barrels per day.
Edun noted that President Tinubu had directed higher output even before the Middle East conflict escalated. He stressed the need to avoid disruptions and maintain upward trajectory. Eyesan confirmed the 1.84 million barrels per day figure, calling it a "remarkable feat" and attributing a previous dip in February to facility incidents and scheduled maintenance. She said those issues had been resolved. The commission is currently evaluating bids for the 2025 licensing round and enforcing the "drill or drop" clause under the Petroleum Industry Act to reclaim inactive oil blocks. Eyesan also confirmed full compliance with Executive Order 9 of 2026, which suspends the 30 per cent Frontier Exploration Fund deduction and mandates direct remittance of oil and gas revenues to the Federation Account.
Hitting 1.84 million barrels per day is progress, but Wale Edun's praise for NUPRC risks mistaking recovery for transformation. The real test lies in sustaining output amid aging infrastructure and unresolved security challenges in the Niger Delta. If the "drill or drop" clause doesn't force major operators to perform or exit, the target of two million barrels will remain aspirational.
