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From 1.627 million barrels per day in January 2026 to 1.483 million barrels per day in February 2026, Nigeria’s production of crude oil, including condensate, decreased by 9% month over month.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) revealed the numbers in its most recent report on the output of crude oil and condensate.
According to reports, production fell by 11% year over year, from 1.671 million barrels per day in February 2025 to 1.483 million barrels per day in the same period in 2026.
The commission reports that the combined output of crude oil and condensate throughout the period was at its lowest point at 1.52 million barrels per day and its highest point at 1.82 million barrels per day.
According to the report, “the average daily production was 1,544,345 barrels per day, consisting of both crude oil (1,421,960 bopd) and condensate (122,385 bopd).”
According to the Organization of the Petroleum Exporting Countries, Nigeria’s average crude oil production amounts to almost 95% of its quota.
An industry source blamed the fall on aging oil infrastructure and ongoing oil theft, even though the commission could not offer an explanation.
“We anticipated an increase in oil output at this time due to the NUPRC’s one million barrels per day initiative. According to the source cited by Vanguard, the decline in production must be caused by a number of issues, including outdated facilities and oil theft in the Niger Delta.
Despite global oil prices staying above $100 per barrel, the development shows that Nigeria did not meet its oil production objective of 1.8 million barrels per day, which was set in the 2026 budget.
A crude oil benchmark of $64.85 per barrel, daily output of 1.84 million barrels, and an exchange rate of ₦1,400 to the dollar are among the fundamental assumptions that underpin the budget.
In the meantime, the commission declared that the pre-qualification phase for candidates in the 2025 Licensing Round, which covers 50 oil blocks, is already complete.
The organization announced that successful applicants have been informed in a statement signed by Eniola Akinkuotu, Head of Media and Strategic Communication.
The statement stated, “The Nigerian Upstream Petroleum Regulatory Commission would like to notify the public that it has finished the pre-qualification phase of the 2025 Licensing Round and has informed the successful applicants accordingly.”
According to the commission, pre-qualified investors will now have access to pertinent data so they can get ready to submit technical and commercial bids.
“The Commission will allow successful applicants to lease data starting on March 17, 2026, in preparation for the technical and commercial bid submissions, now that the pre-qualification stage has been completed,” it continued.
In order to proceed to the next stage of the bidding process, it also instructed applicants to collect data exclusively from authorized sources and to present proof of payment.
