NIGERIA’S OIL PRODUCTION SOARS TO 1.84M BPD, FINANCE MINISTER PRAISES NUPRC
GREATRIBUNETVNEWS–NIGERIA’S daily oil production has hit 1.84 million barrels, earning praise from Finance Minister Wale Edun. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) attributes the surge to resolving operational challenges and maintenance issues.
Key Highlights:
– _”It is heartening that you can tell us that you are doing 1.84 million barrels per day. That is fantastic news. That is totally in line with the mandate of President Bola Tinubu.”_ – Wale Edun, Finance Minister
– Production Boost: NUPRC reports 1.84 million barrels per day, up from 1.31 million bpd in February
– _”We are doing 1.84 million barrels per day. That is a remarkable feat but I am sure we will do more.”_ – Oritsemeyiwa Eyesan, NUPRC Chief Executive
– Target : Edun urges NUPRC to push for 2 million barrels per day
– _”What matters is not just reaching certain heights but sustaining it. We don’t want any stopping along the way.”_ – Wale Edun
– 2025 Licensing Round: NUPRC is in technical and financial stage
The increase in production is seen as a positive development for Nigeria’s economy, with crude oil exports accounting for 50% of total export earnings .
She expressed optimism over the growth of the petroleum sector in the near future especially because of provisions like the “drill or drop” in the Petroleum Industry Act which empowers the Commission to revoke leases of dormant acreages.
Eyesan also noted that the Commission had fully complied with the Executive Order 9 of 2026, which directs the immediate suspension of the 30% Frontier Exploration Fund (FEF) deduction from profit oil and gas, alongside other management fees and the direct remittance of same to the Federation Account in compliance with the executive orders issued by president bola tinubu.
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