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Nigeria’s crude oil production increased by about 40.5 per cent to 1.84 million barrels per day (bpd), marking a significant rebound from the 1.31 million bpd recorded in February.

This was disclosed on April 2, 2026, when the Commission Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission, Oritsemeyiwa Eyesan, visited the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, at the Federal Ministry of Finance headquarters in Abuja.

The latest figure represents a strong recovery in output, coming after Nigeria recorded 1.459 million bpd in January 2026 before declining sharply to 1.31 million bpd in February.

Both the regulator and the government expressed optimism over the rebound in oil production and the potential for further growth.

Eyesan highlighted the recent surge in output and expressed confidence that production levels would continue to improve.

On his part, Edun commended the Commission for the progress made, noting that the development aligns with the directive of Bola Tinubu.

He also urged the regulator to sustain the momentum and push production to 2 million barrels per day.

Nairametrics previously reported that Nigeria’s crude oil production rose to 1.459 million bpd in January 2026, reinforcing its position as Africa’s largest oil producer despite falling short of its Organisation of Petroleum Exporting Countries quota.

Eyesan attributed the decline to operational challenges.

“But all that has been fixed and we are seeing production ramping up,” she said, noting that disruptions at key facilities and maintenance activities were responsible for the dip.

The recent increase in crude oil production above the Federal Government’s conservative benchmark of 1.8 million bpd could signal a positive boost for Nigeria’s fiscal outlook, especially for an economy where crude oil exports still account for 50% of total export earnings.

However, the development comes amid growing fiscal demands.

Just days ago, President Bola Tinubu requested the Senate’s approval to raise the 2026 Appropriation Bill by N9 trillion, pushing the budget from N58.4 trillion to N67.4 trillion. The proposal did not clarify whether the increase would be funded by higher revenues or added to the already substantial deficit of N23.85 trillion.

Nigeria is still falling short of its oil production targets in 2026 despite the recent rebound.

Nairametrics reported on March 24 that the country recorded a crude oil and condensate shortfall of about 16.6 million barrels between January and February, based on data from the Nigerian Upstream Petroleum Regulatory Commission.

Within the period, total output stood at about 92 million barrels, below the projected 108.6 million barrels based on the government’s benchmark of 1.84 million bpd.

While the Federal Government targets 2.6 million bpd for the year, it is working with a more conservative estimate of 1.8 million bpd for budget planning.