Nigeria’s Oil Production Rises 5.7% to 1.69 Million Barrels Per Day in October 2026

Nigeria’s crude oil and condensate production increased by 5.7 per cent year-on-year to an average of 1.69 million barrels per day in October 2026, despite recording a slight decline compared with September.

Data released by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) on Wednesday showed that the country produced an average of 1,687,710 barrels per day in October, compared with 1,597,199 barrels per day recorded in the corresponding period of 2025.

The increase represents an additional 90,511 barrels per day, indicating improved oil production compared with the previous year.

However, October’s output was lower than the 1.72 million barrels per day recorded in September, representing a month-on-month decline of approximately 1.7 per cent.

According to the regulator, daily production fluctuated throughout October, reaching a peak of 1.79 million barrels per day and dropping to a low of 1.60 million barrels per day.

For crude oil alone, excluding condensates, Nigeria recorded an average production of 1.51 million barrels per day during the month. This represented approximately 101 per cent of the 1.5 million barrels per day production quota allocated to the country by the Organisation of Petroleum Exporting Countries (OPEC).

The performance means Nigeria exceeded its OPEC crude oil production allocation by approximately 10,000 barrels per day, extending its record of meeting the quota to six consecutive months.

Production figures showed that Nigeria recorded 1.53 million barrels per day in May, 1.55 million in June, 1.51 million in July, 1.50 million in August and 1.53 million in September before moderating to 1.51 million barrels per day in October.

The latest report also highlighted fluctuations in the country’s combined crude oil and condensate production during the first 10 months of 2026. Output stood at approximately 1.63 million barrels per day in January before falling to 1.48 million in February.

Production subsequently recovered to 1.55 million barrels per day in March and 1.66 million in April, rising further to 1.70 million in May and approximately 1.74 million in June.

However, output declined to 1.67 million barrels per day in July before increasing to 1.68 million in August and 1.72 million in September.

In a statement issued by its Head of Media and Corporate Communications, Eniola Akinkuotu, the NUPRC attributed the relatively stable production performance to improved operational conditions in the upstream petroleum sector.

The commission said improved operational stability had supported production uptime and crude evacuation efficiency in recent months.

It added that the October figures reflected efforts by oil operators and other industry stakeholders to improve operational efficiency, maintain asset integrity and strengthen production reliability.

A breakdown of production by terminals and streams showed that Forcados recorded the highest average output of 318,490 barrels per day in October.

Bonny Terminal followed with 311,020 barrels per day, while Qua Iboe recorded 173,970 barrels per day. Escravos posted 134,670 barrels per day, with Bonga completing the top five at 106,650 barrels per day.

Nigeria’s ability to sustain crude oil production above its OPEC allocation remains important to government revenue and foreign exchange earnings, given the country’s dependence on petroleum exports.

The Federal Government has repeatedly identified increased oil production as a major priority for improving revenue, strengthening external reserves and meeting budgetary targets.

However, exceeding the OPEC quota does not automatically guarantee higher export earnings, as actual revenue also depends on international crude prices, domestic consumption requirements, production costs and the volume of crude available for expor