SAT APRIL 04 2026-theGBJournal| Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has commended the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) for driving a recent increase in the country’s crude oil production to 1.84 million barrels per day, describing the milestone as a strong indication of progress in the petroleum sector.
Edun gave the commendation during a meeting with the Commission Chief Executive of NUPRC, Oritsemeyiwa Eyesan, who visited the headquarters of the Federal Ministry of Finance in Abuja on April 2, 2026.
He noted that the current production level aligns with the broader economic and energy objectives of President Bola Ahmed Tinubu, particularly in boosting national revenue and strengthening economic stability.
“It is heartening that you can tell us that you are doing 1.84 million barrels per day. That is fantastic news. That is totally in line with the mandate of President Bola Tinubu,” Edun said, while encouraging the commission to sustain the momentum and consolidate on the gains recorded so far.
The finance minister acknowledged the efforts of the regulatory body in stabilising and improving output in a sector that has faced persistent challenges ranging from infrastructure constraints to global market volatility.
He urged the commission to maintain its current trajectory, stressing that consistency and resilience would be critical in achieving long-term production goals.
Edun also referenced the ongoing geopolitical tensions in the Middle East, describing the situation as unfortunate but noting that Nigeria’s push for increased oil production predates the crisis.
According to him, the administration had already set a clear direction to ramp up output as part of its economic strategy, making the current gains a reflection of deliberate policy actions rather than external factors.
He therefore charged the NUPRC to intensify its efforts and push the industry towards achieving the 2 million barrels per day benchmark, which he described as both a symbolic and strategic target for the country’s oil sector.
“I wish you continued success. What matters is not just reaching certain heights but sustaining it. We don’t want any stopping along the way. The trajectory should be maintained and of course the magic figure is 2mbpd,” Edun stated.
The call underscores the federal government’s commitment to leveraging the oil and gas sector as a key driver of economic growth, especially at a time when Nigeria is seeking to optimise revenue generation and enhance foreign exchange inflows.
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