Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has revealed that the country’s daily crude oil production now averages 1.7 million barrels per day (bpd).
Gatekeepers News reports that Gbenga Komolafe, chief executive officer (CEO) of NUPRC, disclosed this on Thursday during the 50th anniversary conference of Nigerian Association of Petroleum Explorationists (NAPE) in Lagos.
According to Komolafe, through the one million barrels initiative launched in 2024, Nigeria is boosting crude oil output by reactivating dormant fields, expediting regulatory approvals, and enhancing operational efficiency across the upstream sector. He noted that the goal is to increase production from 1.46 million bpd to 2.5 million bpd by 2026.
The NUPRC boss said the scheme has already demonstrated strong momentum with current unreconciled daily production averaging 1.7 – 1.83 million bpd.
Komolafe added, Equally crucial is the protection and optimization of national hydrocarbon assets.”
“The approval of 37 new evacuation routes, coupled with intensified collaboration with national security agencies, has significantly curtailed crude theft and enhanced accountability across the industry.”
He said that enforcing the domestic crude supply obligation (DCSO) is ensuring steady feedstock for local refineries, strengthening internal supply chains, and supporting long-term economic resilience.
Komolafe stressed that hydrocarbons still account for nearly 90 percent of Nigeria’s foreign exchange earnings and 70 percent of government revenue, while acknowledging that the federal government recognises the need to align sector growth with climate responsibility.
The Organisation of Petroleum Exporting Countries (OPEC) recently reported that Nigeria’s average daily crude oil production rose to 1.50 million bpd in July.
