Oil Output Hits 1.53mbpd, Highest in 11 Months   Nigeria’s crude oil production rose to 1.53 million barrels per day (mbpd) in May 2026, the highest level since July 2025, according to the latest OPEC Monthly Oil Market Report. The figure represents a 41,000 bpd increase from...

The Federal Government, through the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), has set Friday, June 12, 2026, as the deadline for submission of technical and commercial bids in the ongoing 2025 Licensing Round.

Nigeria’s oil production rebounded in April 2026, averaging 1.663 million barrels per day (bpd) of crude and condensates, according to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).

2025 Nigeria exported 485.44 million barrels of crude oil in 2025, representing 82% of total production, according to a report by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).

The Nigerian National Petroleum Company Limited (NNPC Ltd.) and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) remitted over N322bn and $116.9m into the Federation Account within two months, following the implementation of Executive Order 9 signed by President Bola Tinubu in February 2026.

Domestic refineries received only 28.5 million barrels of crude oil in Q1 2026, far below the 61.9 million barrels allocated, according to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).