Nigeria’s daily oil production increased by 4.2 percent to 1.546 million barrels per day (mbpd) in March 2026, up from 1.483 mbpd recorded in February, according to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
In its latest oil production status report, the Commission said crude oil output—excluding condensates—rose by 5.2 percent to 1.382 mbpd in March from 1.313 mbpd in the previous month.
Despite the improvement, Nigeria failed to meet its production quota of 1.5 mbpd set by the Organization of the Petroleum Exporting Countries (OPEC) for the third consecutive month. Output also remained below the 1.84 mbpd benchmark projected in the 2026 national budget.
The NUPRC noted that daily production levels in March fluctuated, with a low of 1.4 mbpd and a peak of 1.84 mbpd during the period.
However, the Commission recently indicated that production had rebounded to 1.84 mbpd, signaling potential recovery in the sector.
Reacting to the development, Minister of Finance and Coordinating Minister of the Economy, Wale Edun, described the rebound as encouraging and aligned with the directive of President Bola Tinubu to boost oil output.
Edun commended the NUPRC for the progress, noting that achieving 1.84 mbpd reflects ongoing efforts to strengthen production capacity. He urged the Commission to sustain the momentum to meet both OPEC targets and national revenue expectations.
The gradual increase in output signals a positive trend for Nigeria’s oil sector, although consistent performance will be critical to meeting fiscal projections and stabilising the economy.
