Oil, Condensate Output Averages At 1.546mbpd In March After 1.84mbpd Peak

Nigeria’s combined oil and condensate production averaged 1.546 million barrels per day (mbpd) in March 2026, up 4.2 per cent from 1.483 mbpd in February, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) reported.

The month saw production peak at 1.84 mbpd, with the lowest daily figure at 1.4 mbpd, according to NUPRC’s latest status report. The report showed that excluding condensates, crude oil output rose 5.2 per cent to 1.382 mbpd from 1.313 mbpd.

Despite the uptick, output stayed below Nigeria’s OPEC quota of 1.5 mbpd for the third consecutive month and the 1.84 mbpd benchmark in the 2026 budget.

Recall that NUPRC reported that the lowest daily production recorded in March was 1.4 mbpd, while the highest reached 1.84 mbpd.

The Commission had, however, indicated last week that production had rebounded to 1.84 mbpd with the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun commending NUPRC for the improvement in output.

Describing the development as “fantastic news,” the minister said the current production level aligns with the directive of President Bola Tinubu to ramp up oil output.

“It is heartening that you can tell us that you are doing 1.84 million barrels per day. That is totally in line with the President’s directive,” Edun said, urging the commission to sustain the momentum.