By Joy Onu
Nigeria’s crude oil production has surged to 1.84 million barrels per day, signaling a recovery after operational disruptions earlier this year. Finance Minister and Coordinating Minister of the Economy, Wale Edun, urged regulators and operators to sustain the momentum and work toward the government’s two million barrels per day target.
In a press statement by Eniola Akinkuotu, Head, Media and Corporate Communication, Edun made the call during a briefing on Thursday in Abuja with the Commission Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Oritsemeyiwa Eyesan.
Edun described the production increase as encouraging and emphasized the need for consistency. “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. He added that Nigeria had already taken steps to boost production before geopolitical tensions in the Middle East affected global energy markets.
Eyesan said the recent rise follows a dip in February caused by maintenance and disruptions at strategic facilities. “All those challenges have been addressed, and production is steadily ramping up,” she said. She also revealed that the 2025 oil licensing round has moved into the technical and financial evaluation stage, a step expected to attract new investment and accelerate development of dormant oil blocks.
Looking ahead, Eyesan highlighted provisions in the Petroleum Industry Act that allow the commission to revoke licences for undeveloped acreage, encouraging active field development. She confirmed that the NUPRC has implemented Executive Order 9 of 2026, which suspends the 30 per cent Frontier Exploration Fund deduction from profit oil and gas and directs the funds to the Federation Account to improve transparency and revenue management.
