Nigeria's daily oil production reached 1.84 million barrels, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has confirmed. Commission Chief Executive Mrs. Oritsemeyiwa Eyesan disclosed the figure during a meeting with Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, on Friday. A statement by NUPRC's Head of Media and Corporate Communication, Eniola Akinkuotu, quoted Edun as praising the achievement, calling it "fantastic news" and in line with President Bola Tinubu's mandate. He urged the commission to push toward the target of 2 million barrels per day, stressing the need for sustained output.
Eyesan attributed a previous production dip in February to incidents affecting key facilities and scheduled maintenance, both of which have since been resolved. She confirmed that daily output is now climbing steadily. On the 2025 licensing round, she said the commission is in the technical and financial evaluation phase, with some acreages expected to yield production within a year. Indigenous companies are actively participating, showing strong capacity, she added. Eyesan also confirmed full compliance with Executive Order 9 of 2026, which suspends the 30% Frontier Exploration Fund deduction from profit oil and gas and mandates direct remittance to the Federation Account.
Global crude prices remain elevated, with Brent crude at $109 and WTI at $111 per barrel, amid disruptions from the Middle East crisis.
Hitting 1.84 million barrels per day is progress, but Wale Edun's push for 2 million barrels per day exposes how reliant this government remains on volatile oil markets. With Brent crude hovering near $110, the urgency to ramp up output feels less like strategy and more like panic-driven opportunism. If maintenance and facility issues caused a recent dip, promises of sustained production sound optimistic at best. For Nigerians, this means more revenue talk with little guarantee of tangible economic relief downstream.
