A 0.4 percent increase from the 1.67 million bpd recorded in July saw Nigeria’s crude and condensate production rise to 1,677,777 barrels per day in August 2026.

The growth, disclosed in a statement by Head, Media and Corporate Communications, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Eniola Akinkuotu, on Sunday.

Another interesting aspect of the report is that it shows Nigeria’s consistent compliance with the Organisation of Petroleum Exporting Countries (OPEC) crude oil quota for the fourth consecutive month.

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According to the regulator, crude oil production, excluding condensates, stood at 1,500,190 barrels per day in August.

The report revealed that Nigeria meeting her OPEC quota for the fourth consecutive month, reflects continued efforts by operators to restore affected production capacity and address operational bottlenecks.

The latest increase followed the resolution of operational challenges involving the Single Buoy Mooring at the Erha field, which had affected production performance in the preceding month.

The NUPRC said the restoration of normal evacuation and production operations at the asset contributed positively to the overall output recorded during the month.

The statement read, “The NUPRC attributed the modest improvement in August production largely to the resolution of the Single Buoy Mooring operational challenges at the Erha field, which had adversely impacted production performance in the preceding month.

“The restoration of normal evacuation and production operations at the asset contributed positively to overall production volumes during the period under review.”

The regulator added that production activities across most other producing assets remained relatively stable, with operators sustaining measures aimed at improving efficiency, maintaining asset integrity and reducing operational disruptions.

According to the commission, the lowest daily crude oil and condensate production recorded in August was 1.64 million bpd, while the highest stood at 1.71 million bpd.

A breakdown of production by terminals and streams showed that the Bonny Terminal recorded the highest average output during the month, accounting for 320.04 thousand bpd.

Forcados Terminal followed with 317.40 thousand bpd, while the Qua Iboe Terminal recorded an average of 171.72 thousand bpd of crude oil and condensates.

Escravos Oil Terminal posted a daily average of 131.71 thousand bpd, while Bonga ranked fifth among the leading producing terminals with an average of 92.50 thousand bdp of crude oil.

The August output represented an increase of 6,777 bpd from July’s 1,671,000 barrels per day, based on the rounded July figure. It was also 57,621 bpd, lower than the 1,735,398 bpd recorded in June.

The June figure represented a decline of about 3.3 per cent in August when compared with the latest available June production data.

The NUPRC said the August performance reflected the industry’s continued efforts to resolve operational constraints and restore affected production capacity.

It stated, “While the increase recorded in August was modest, it reflects the industry’s continued efforts to address operational bottlenecks and restore affected production capacity.

“Stakeholders remain focused on enhancing asset reliability, improving operational resilience and advancing intervention programs to support sustained production growth in the coming months.”

The regulator further emphasised the importance of timely intervention, effective asset management and collaboration among industry stakeholders in safeguarding the country’s crude oil production capacity.

Nigeria’s oil production has remained a major focus of government efforts to increase revenue, improve foreign exchange earnings and strengthen the country’s ability to meet its OPEC production quota.

Alhaji Aliko Dangote, President, Dangote Industries Limited (DIL), Aliko Dangote, has assured small-scale investors eager to own equities through his refinery’s Initial Public Offering ((IPO) that they would be prioritised in the allocation of shares.

He delivered his message in Hausa during an interview with Abis Fulani, which was translated by Google Gemini, while discussing the planned IPO and its potential benefits to investors.

The interview was published on Thursday but gained traction on Saturday.

According to Dangote, retail investors seeking to buy shares worth N50,000, N100,000 and other smaller amounts would receive priority over large institutional investors.

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He said, “When you do something like this—what is called an IPO—all the small-scale investors are the ones who will be given priority first.

“The big institutional investors who request large allocations will not get everything they ask for. But the small retail investors who want to buy N50,000 worth, or some buying N100,000 worth, and so on, they are the ones who will be given priority allocations.”

He said the remaining shares would subsequently be distributed among investors.

On the potential value of the shares, Dangote said the current N525 price could increase substantially, projecting that it could eventually reach N10,000.

He said, “As I was saying, this share, if you look at it, we are currently at N525. A day will come when this share will reach N10,000.

“Therefore, if you hold it, having bought it, and it rises to N10,000, where you previously invested N5m, it will now be worth over N50m. You see, you have become wealthy.”

Dangote further said shareholders could choose to receive dividends in either naira or dollars, saying the option could help investors cope with currency depreciation.

He said the dollar option would be particularly useful to Nigerians with financial obligations abroad, including parents with children studying in the United Kingdom.

Dangote said, “The benefit of buying it is that holding this share will not prevent you from carrying out your regular work. You hold this share, and when dividends are paid, you won’t need to fear currency devaluation.

“That is because you can choose to receive your dividend in Naira or in Dollars. If you have a child studying at a school in England, for example, even if there is economic instability or currency devaluation—may God protect us—having this means what you receive is in Dollars.”

He recalled the sharp depreciation of the naira against the dollar, saying the exchange rate had risen from about N400 to the dollar to N1,800.

“So your child won’t have to… avoid exchange rate shocks, like when rates moved from N400 up to N1,800.

“Most children were brought back home as a result. So what we want to prevent is that kind of situation,” he said.

The Dangote Refinery IPO comprises 4.1 billion ordinary shares priced at N525 each. A full subscription is expected to raise about N2.15tn, while the minimum subscription is 10 shares, costing N5,250. The offer is scheduled to run from September 14 to October 13, 2026.

After the offer closes, applications will be processed and investors will be informed of their allotments. Applying for a particular number of shares does not guarantee that an investor will receive the full amount requested, particularly if the offer is oversubscribed.

The shares are expected to be listed on the Nigerian Exchange Main Board after the allotment process, after which their market price will be determined by demand and supply.

While Dangote projected that the shares could eventually reach N10,000, the N525 offer price does not guarantee a future market price or return.

The share price could rise or fall after listing depending on the company’s performance, investor sentiment, refining margins, demand and broader economic conditions.

The IPO proceeds are expected to support the refinery’s expansion, with the company planning to increase its refining capacity from about 650,000–700,000 barrels per day to 1.4 million barrels per day.

FIRST Exploration & Petroleum Development Company Limited and the NNPC Limited/FIRST E&P Joint Venture, in partnership with the Health Emergency Initiative, have trained over 100 secondary school students and teachers from public schools in Bayelsa State on first aid, cardiopulmonary resuscitation and other emergency response skills.

The two-day training, held in Yenagoa, was aimed at equipping the participants with basic lifesaving skills to provide immediate assistance to victims of emergencies before the arrival of professional medical help.

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Speaking during the programme, the Executive Director and founder of HEI, Paschal Achunine, said the initiative was designed to change the attitude of bystanders who often resort to recording emergencies on social media instead of taking steps to save lives.

Achunine said the programme had been implemented in several states, adding that participants were expected to transfer the knowledge acquired to other students and members of their communities.

“Our expectation is that as opposed to the current practice, where people take pictures and videos and put it on social media when an emergency happens, we’ll see more proactive response, a robust response from young people,” he said.

He said the participants were trained in basic first aid, CPR and other pre-hospital emergency skills, adding that timely intervention could improve the survival chances of accident victims and people suffering cardiovascular emergencies.

“We’ve seen a lot of high-profile people, young persons, adults, who slumped, and some were in their office, some were on the road, and people around were pouring water, doing nothing positive to save or to offer them CPR. So this is to change that story,” Achunine said.

The HEI founder noted that road traffic crashes accounted for a significant number of deaths among young people, stressing that equipping students with emergency response skills could help reduce preventable deaths.

He also disclosed that more than 30 per cent of deaths in Nigeria occurred during the pre-hospital stage, describing the training as a proactive intervention to address the challenge.

According to him, HEI had operated a post-crash care programme since 2017 in partnership with organisations, including the Federal Road Safety Corps and hospitals, providing up to N100,000 deposit support for critically injured crash victims taken to hospitals.

He said the first responder training would complement the post-crash intervention by ensuring that appropriate lifesaving measures were taken before victims reached medical facilities.

“This is a further sweetener to ensure that not only when people are critical, but at the early phase of that pre-hospital emergency, more lives can be saved,” he said.

Achunine further disclosed that HEI had partnered with the Nigeria Educational Research and Development Council to integrate emergency health education into the school curriculum.

He said approval had been obtained from the relevant authorities to introduce the programme into composite subjects in primary and secondary schools.

“In the coming months, in the new academic year, we’ll start seeing emergency health education, which is a more robust version of this training conducted in parts and conducted with practical applications in secondary and primary schools,” he said.

Also speaking, the Executive Director, Corporate Services, FIRST E&P, Emmanuel Etomi, said the company supported the initiative because timely intervention during emergencies could determine whether a victim survived.

“During a medical emergency, road traffic accident, cardiac arrest, or other life-threatening incident, the difference between life and death can be measured in minutes,” Etomi said.

He said there was a need to ensure that people in communities knew what to do before professional help arrived, adding that the trained students and teachers could serve as first points of assistance during emergencies in schools, homes and communities.

Etomi described the training as an investment in community resilience, saying the knowledge acquired could turn helplessness into informed action and potentially save lives.

He also disclosed that HEI was among the five inaugural beneficiaries of Impact FIRST: Heritage, a multi-year funding programme launched by the NNPC Limited/FIRST E&P Joint Venture to support organisations with proven impact and sustainable delivery models.

Etomi commended the Bayelsa State Government and HEI for bringing the programme to the state, expressing optimism that the partnership would help deepen and expand its impact.