NUPRC REPORTS RISE IN CRUDE OUTPUT, GAP PERSISTS

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By: Fasasi Hammad

Nigeria’s oil output increased by 4.2 per cent to 1.546 million barrels per day (mbpd) in March 2026, up from 1.483 mbpd in February, according to the latest figures released by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).

In its production status report issued on Wednesday, the commission noted that crude oil production, excluding condensates, rose by 5.2 per cent to 1.382 mbpd in March, compared to 1.313 mbpd recorded in February.

Despite the gains, Nigeria remained below its Organisation of the Petroleum Exporting Countries (OPEC) quota of 1.5 mbpd for the third straight month, while also falling short of the 1.84 mbpd benchmark outlined in the 2026 budget.

The report showed that daily production in March ranged between a low of 1.4 mbpd and a peak of 1.84 mbpd.

However, the commission disclosed last week that output had since rebounded to 1.84 mbpd, prompting the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, to commend the improvement.

Describing the development as “fantastic news,” Edun said the current production level aligns with President Bola Ahmed Tinubu’s directive to boost oil output.

“It is encouraging to hear that production has reached 1.84 million barrels per day, which is fully in line with the President’s directive,” he said, while urging the commission to maintain the upward trend.

He emphasised the importance of consistency, noting that the government is targeting a sustained output of two million barrels per day.

“The key is not just achieving these levels, but maintaining them. There should be no disruptions along the way, as the ultimate goal remains 2mbpd,” he added.

Meanwhile, the commission’s chief executive, Oritsemeyiwa Eyesan, expressed confidence that production would continue to rise, confirming that daily output had recently hit 1.84 mbpd.

“We are currently producing 1.84 million barrels per day. While this is a significant milestone, we are optimistic about achieving even higher levels,” she said.

Eyesan explained that the dip recorded in February was due to disruptions at major facilities and planned maintenance activities, which have now been resolved.

“Those challenges have been addressed, and we are now witnessing a steady increase in production,” she added.