Nigeria’s crude oil production, including condensate, declined to 1.483 million barrels per day in February 2026, down from 1.627 million bpd recorded in January. Data released by the Nigerian Upstream Petroleum Regulatory Commission also showed a year-on-year drop compared to February 2025, highlighting ongoing challenges in the country’s oil sector.

The report indicated that average daily production stood at about 1.54 million barrels, with crude oil contributing the majority. This level represents roughly 95 per cent of Nigeria’s quota under the Organisation of the Petroleum Exporting Countries. Industry observers have linked the decline to factors such as oil theft and ageing infrastructure, which continue to affect output levels.

Despite strong global oil prices, the drop means Nigeria fell short of its 2026 production target. Meanwhile, the commission confirmed progress in its 2025 licensing round, announcing that pre-qualified investors will proceed to the next stage of bidding as part of efforts to boost future production.