Nigeria's crude oil production reached 1.84 million barrels per day in recent days, according to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). The increase follows the resolution of operational disruptions and completion of turnaround maintenance on key oil facilities that had previously caused a dip in output in February. NUPRC Chief Executive Oritsemeyiwa Eyesan confirmed the figure during a visit to the Federal Ministry of Finance in Abuja, stating, "We are doing 1.84 million barrels per day. That is a remarkable feat, but I am sure we will do more." She noted that all previously reported constraints have been fixed and production is now ramping up steadily.
Eyesan highlighted progress in the 2025 licensing round, now in its technical and financial evaluation phase. She cited the "drill or drop" provision of the Petroleum Industry Act as a key driver for revitalizing dormant acreages, with some new fields expected to produce within a year. Indigenous oil companies are increasingly active, she added. The commission also confirmed full compliance with Executive Order 9 of 2026, which suspended the 30 per cent Frontier Exploration Fund deduction from profit oil and gas, redirecting those funds to the Federation Account.
Finance Minister Wale Edun welcomed the production increase, calling it "fantastic news" and aligned with President Bola Tinubu's mandate. He emphasized the need for sustained output, noting that consistency is vital for fiscal stability. Edun reiterated the government's target of reaching 2 million barrels per day.
Hitting 1.84 million barrels per day is progress, but Wale Edun's public praise of NUPRC risks conflating short-term gains with long-term stability. The real test lies not in occasional peaks but in maintaining output amid aging infrastructure and unresolved security challenges in the Niger Delta. Reaching 2 million bpd will require more than optimism—it demands consistent execution, not ceremonial endorsements.
