Nigeria recorded a modest increase in crude oil production in March 2026, with average daily output rising by 4.2 per cent to 1.546 million barrels per day (mbpd), up from 1.483 mbpd in February, latest figures from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) have shown.
According to the Commission’s oil production status report released on Wednesday, crude oil output, excluding condensate, grew by 5.2 per cent to 1.382 mbpd in March, compared to 1.313 mbpd in the previous month.
However, despite the improvement, Nigeria’s production remained below its 1.5 mbpd quota set by the Organisation of the Petroleum Exporting Countries for the third straight month. Output also fell short of the 1.84 mbpd benchmark projected in the 2026 national budget.
The NUPRC disclosed that daily production fluctuated during the month, hitting a low of 1.4 mbpd and peaking at 1.84 mbpd.
In a more recent update, the Commission indicated that production had rebounded to 1.84 mbpd, drawing commendation from the Minister of Finance and Coordinating Minister of the Economy, Wale Edun.
Edun described the rebound as encouraging, noting that the output level aligns with the directive of President Bola Ahmed Tinubu to scale up oil production.
He urged the regulator to sustain the momentum and push output towards the government’s target of two million barrels per day, stressing that consistency is key to achieving long-term gains.
“What matters is not just reaching certain heights but sustaining it. We don’t want any stopping along the way. The trajectory should be maintained, and of course the magic figure is 2mbpd,” he said.
On her part, the NUPRC Chief Executive, Oritsemeyiwa Eyesan, expressed optimism that production would continue to rise, confirming that daily output had recently reached 1.84 mbpd.
She attributed the earlier dip in February to operational disruptions and scheduled maintenance at major facilities, noting that the challenges had since been resolved.
“All that has been fixed and we are seeing production ramping up,” she said.
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