The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says the country’s daily oil production currently averages 1.7 million barrels per day (bpd).
Gbenga Komolafe, chief executive officer (CEO), NUPRC, spoke on Thursday at the 50th anniversary conference of the Nigerian Association of Petroleum Explorationists (NAPE) in Lagos.
Through the one million barrels initiative launched in 2024, he said Nigeria is ramping up crude oil output by reactivating dormant fields, fast-tracking regulatory approvals, and improving operational efficiency across the upstream value chain.
The CEO said the initiative aims to raise production from 1.46 million bpd to 2.5 million bpd by 2026.
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Komolafe said the scheme “has already demonstrated strong momentum with current unreconciled daily production averaging 1.7 – 1.83 million bpd”.
“Equally crucial is the protection and optimization of national hydrocarbon assets,” the NUPRC CEO said.
“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.”
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Komolafe said enforcing the domestic crude supply obligation (DCSO) is ensuring consistent feedstock for local refineries, strengthening Nigeria’s internal supply chains and supporting long-term economic resilience.
The NUPRC chief said hydrocarbons continue to generate nearly 90 percent of Nigeria’s foreign exchange earnings and 70 percent of government revenue.
He added that the federal government is fully aware that the long-term viability of “our energy sector depends on aligning growth with climate responsibility”.
The Organization of Petroleum Exporting Countries (OPEC) had said Nigeria’s average daily crude oil production increased to 1.50 million bpd in July.
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