Nigeria’s crude oil production increased significantly to 1.84 million barrels per day (bpd) in March 2026, up from 1.48 million bpd in February 2026, according to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
“We are doing 1.84 million barrels per day. That is a remarkable feat, but I am sure we will do more,” said the Chief Executive Officer (CEO) of NUPRC, Oritsemeyiwa Eyesan, on Thursday during her visit to the headquarters of the Ministry of Finance in Abuja.
The NUPRC CEO attributed the earlier dip in production in February to unfortunate incidents at key facilities, along with ongoing turnaround maintenance.
“But all that has been fixed, and we are now seeing production ramping up,” Eyesan said.
The significant increase comes at a time when oil prices are skyrocketing, with Brent crude rising by 79.47 percent year-to-date—from $60.75 to $109.03 per barrel.
Regarding the 2025 licensing round, the NUPRC CEO said the commission is currently in the technical and financial evaluation stage.
She expressed optimism about the growth of the petroleum sector in the near future, particularly due to provisions such as the “drill or drop” clause in the Petroleum Industry Act (PIA), which empowers the commission to revoke leases for dormant acreages.
The NUPRC boss added that some of the acreages on offer could begin production within a year, noting that indigenous companies are demonstrating impressive capacity.
Eyesan also stated that the commission has fully complied with Executive Order 9 of 2026, which directs the immediate suspension of the 30 percent Frontier Exploration Fund (FEF) deduction from oil and gas profits, as well as other management fees. The order also requires that the funds be paid directly into the Federation Account.
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