From 1.627 million barrels per day in January 2026 to 1.483 million barrels per day in February 2026, Nigeria’s crude oil production, including condensate, fell by 9% month over month.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) released the data 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 time in 2026.
The commission reports that the combined output of crude oil and condensate over the time peaked at 1.82 million barrels per day, while the lowest was 1.52 million barrels per day.
According to the report, “the average daily production was 1,544,345 barrels per day, comprising both crude oil (1,421,960 bopd) and condensate (122,385 bopd).”
According to the Organization of the Petroleum Exporting Countries, Nigeria’s average production of crude oil accounts for almost 95% of its quota.
An industry source blamed the reduction on aging oil infrastructure and ongoing oil theft, even though the commission could not give an explanation.
We anticipated an increase in oil output at this time due to the NUPRC’s one million barrels per day program. The insider told Vanguard that the decline in production must be caused by a number of causes, such as outdated facilities and oil theft in the Niger Delta.
Despite global oil prices staying above $100 per barrel, the development shows that Nigeria failed to meet its oil production target 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 form the basis of 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, had over.
The agency said 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 wishes to notify the public that it has finished the pre-qualification stage of the 2025 Licensing Round and has notified successful applicants accordingly.”
According to the commission, pre-qualified investors will now have access to pertinent information so they can get ready to submit technical and commercial bids.
It further stated, “The Commission will allow successful applicants to lease data in preparation for the technical and commercial bid submissions starting on March 17, 2026, now that the pre-qualification stage has been completed.”
In order to proceed to the next round of the bidding process, it also instructed applicants to only collect data from authorized sources and to present proof of payment.
