ECONOMY
Nigeria’s Oil Output Hits 1.7 Million Barrels Daily – NUPRC
Nigeria’s oil production is on the rise. The Nigerian Upstream Petroleum Regulatory Commission says output has jumped from just over one million barrels per day to 1.7 million barrels.
The Commission said Rig count has also seen a major boost moving from eight to 46 rigs in operation.
The Commission’s Chief Executive, Engr. Gbenga Komolafe, says these improvements are the result of bold reforms, investor-friendly policies, and the implementation of the Petroleum Industry Act, PIA.
Speaking at a strategic media workshop in Abuja on Wednesday, Engr. Komolafe said the Commission is now focused on cutting production costs and attracting more investments.
He also highlighted Project 1 Million Barrel Additional Incremental, a key initiative designed to unlock more oil output in a cost-effective way.
The NUPRC boss applauded President Bola Tinubu for signing executive orders that have cleared long-standing bottlenecks in the sector, encouraged investment inflows, and improved the ease of doing business.
He stressed that collaboration with the media is critical to deepening public understanding of these reforms and sustaining accountability.
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