Nigeria Refineries Supplied 28.5M bbl in Q1 2026 vs 61.9M Allocation

Nigeria's domestic refineries, including the Dangote Petroleum Refinery, received just 28.5 million barrels of crude oil in the first quarter of 2026, despite allocations of 61.9 million barrels and offers from producers totaling 68.7 million barrels, according to data released by the Nigerian Upstream Petroleum Regulatory Commission.

The commission disclosed the figures on Tuesday in a quarterly report on enforcement of the Domestic Crude Supply Obligation, a requirement under the 2021 Petroleum Industry Act aimed at prioritizing local refining to curb petroleum imports. The actual supply represented a conversion rate of 36.46 percent, highlighting a persistent gap between allocated volumes, producer offers and deliveries to refiners.

A monthly breakdown showed varied performance. In January, the commission mandated 22.6 million barrels after stakeholder consultations. Producers offered 25.3 million barrels, exceeding the target by 11.9 percent or 2.7 million barrels, but only 9.2 million barrels were supplied. February allocations stood at 20.5 million barrels, with producers offering 19.8 million barrels, a shortfall of 700,000 barrels, and deliveries falling to 9.1 million...