36 C
Lagos
Monday, January 26, 2026
Header1
Home Economy Strategic Plan Unveiled to Hits 1.8 Million Barrels Per Day Production Goal

Strategic Plan Unveiled to Hits 1.8 Million Barrels Per Day Production Goal

0
19
Article1

In an update published by BusinessDay, Nigeria’s ambition to reach a crude oil production target of 1.80 million barrels per day (bpd) in 2026 is reportedly contingent on fixing aging infrastructure and securing new export routes. While over $16 billion in investment commitments have been secured since 2023, experts warn that chronic pipeline theft and ‘infrastructure bottlenecks’ remain significant hurdles. The report highlights that the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) recorded an average production of 1.66 million bpd toward the end of 2025. To bridge the gap, the government is looking to activate newly approved export infrastructure and leverage improved security measures in the Niger Delta. Further validation comes from Premium Times and The Nation. Premium Times reported that the ‘NNPCL seeks pipeline communities’ support’ to meet the new budget targets, while The Nation quoted industry analysts saying, ‘securing evacuation routes’ is the primary challenge for the year.

Echotitbits take: Reaching 1.8m bpd is the ‘holy grail’ for Nigeria’s 2026 fiscal stability. If the government can successfully secure the pipelines and integrate new investments, the resulting forex influx could stabilize the Naira. However, the reliance on mature fields means that brownfield optimizations must happen immediately.

Inline1

Source: Guardian – https://guardian.ng/energy/crude-oil-production-hits-1-8m-barrels-per-day-nuprc/ January 6 2026

Photo Credit: Guardian

Adbottom1