LAGOS — Nigeria’s daily crude oil production has climbed to 1.84 million barrels per day (mbpd), surpassing the federal government’s 2026 budget benchmark and signaling a significant recovery for the nation’s primary revenue source.
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, lauded the milestone during a meeting at the ministry’s headquarters on Thursday.
Edun credited the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) for its role in stabilizing the sector, noting that the increase aligns with the economic mandates set by President Bola Tinubu.
The current output represents a sharp 40.5% rebound from the 1.31 mbpd recorded in February 2026, a period marred by technical disruptions and facility maintenance.
“It is heartening that you can tell us that you are doing 1.84 million barrels per day. That is fantastic news,” Edun told NUPRC Chief Executive Mrs. Oritsemeyiwa Eyesan. While expressing satisfaction, the Minister urged the regulator to push toward a “magic figure” of 2 mbpd to further ease fiscal pressures and support the national debt profile.
This production surge comes at a critical time for the Nigerian economy The 1.84 mbpd figure sits comfortably above the government’s conservative budget estimate of 1.8 mbpd.
With Brent crude trading near $109 per barrel amid geopolitical tensions in the Middle East, sustained production at this level could significantly improve foreign exchange inflows.
Crude oil remains the backbone of Nigeria’s economy, accounting for approximately 50% of total export earnings.
Mrs. Eyesan attributed the growth to ongoing reforms under the Petroleum Industry Act (PIA), including the “drill or drop” provisions which encourage activity on dormant acreages.
The Commission is currently finalizing the technical stages of the 2025 Licensing Round, which is expected to bring new indigenous and international players into the upstream sector to sustain the upward trajectory.
| Period | Production (mbpd) | Status |
| January 2026 | 1.49 | Base line |
| February 2026 | 1.31 | Technical deep |
| April 2026 | 1.84 | Target met |
| Target | 2.0+ | Presidential mandate |
