Nigeria's crude oil production has climbed to 1.821 million barrels per day, including condensates, according to the Nigerian National Petroleum Company Limited (NNPCL). This information was shared by the Group Chief Executive Officer of NNPCL, Bayo Ojulari, at the 2026 conference of the Association of Energy Correspondents of Nigeria (NAEC) in Lagos. The conference was themed 'Access To Assets: Empowering Players & Driving Growth'.
The increase in oil production is attributed to improvements in regulation and activities in the upstream sector, according to Ojulari. He stated that the country has recorded more than 80 per cent success in its efforts to improve production. The latest production figure comes days after the Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, highlighted the role of stronger collaboration between the government and industry stakeholders in supporting the country's rising output.
The Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, emphasized that efforts to remove investment bottlenecks have contributed to the increase in oil production. Lokpobiri spoke in Abuja at the fifth anniversary of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). He noted that the number of active drilling rigs had risen from fewer than 10 when the current administration assumed office to more than 70.
According to Lokpobiri, sustained drilling activity is essential to increasing production and helping Nigeria achieve its target of about three million barrels per day. He stressed that Nigeria's large petroleum reserves could only generate greater economic value if the government maintained an investment-friendly environment and granted licences to investors with the required financial and technical capacity.
Official data showed that Nigeria produced an average of 1,677,777 barrels of crude oil and condensates per day in August, representing a 0.4 per cent increase from July. This recent data indicates a steady upward trend in the country's oil production. The NNPCL's achievement of 1.821 million barrels per day reflects a positive development in Nigeria's oil sector.
The growth in oil production is a significant development for Nigeria, given the sector's importance to the country's economy. The NNPCL's report highlights the progress made in the oil sector under the current administration. Further increases in production will likely depend on continued investment and collaboration between stakeholders.
The Nigerian government and industry stakeholders will likely continue to focus on maintaining an investment-friendly environment to support further growth in the oil sector. With a target of three million barrels per day, Nigeria aims to maximize the economic benefits of its petroleum reserves. Achieving this goal will require sustained efforts to improve regulation, increase drilling activity, and attract investment.
Key points
- Nigeria's crude oil production has reached 1.821 million barrels per day, including condensates.
- The increase in oil production is attributed to improvements in regulation and activities in the upstream sector.
- The country aims to achieve a production target of about three million barrels per day.
