Nigeria exported 55.39 million barrels of crude oil in the first two months of 2026, even as domestic refining operations, including the Dangote Petroleum Refinery, continue to face persistent crude supply constraints.
Data from the Central Bank of Nigeria shows exports stood at 31.31 million barrels in January and 24.08 million barrels in February, underscoring the scale of crude shipments abroad despite rising domestic demand.
Average daily production was recorded at 1.46 million barrels in January and 1.31 million barrels in February, while export levels averaged 1.01 million barrels per day and 0.86 million barrels per day, respectively.
Total crude output for the two months reached 81.94 million barrels, leaving about 26.55 million barrels available for local refining.
However, the volume remains insufficient for the 650,000-barrel-per-day Dangote refinery, which has repeatedly reported inadequate domestic crude allocation.
The refinery, owned by Aliko Dangote, Nigerian industrialist, has indicated that it continues to rely partly on imported crude despite Nigeria’s position as Africa’s largest oil producer.
Between October 2025 and mid-March 2026, the facility recorded a crude shortfall of about 79.53 million barrels. It requires an estimated 19.77 million barrels per month to operate at full capacity, but has consistently received lower supplies.
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Supply data shows monthly deliveries of 4.55 million barrels in October, 6.45 million in November, 4.30 million in December, 5.65 million in January and 4.66 million in February, with 3.6 million barrels supplied in the first half of March.
A senior refinery source said the plant continues to operate below optimal capacity due to limited domestic crude allocation, despite policy provisions prioritising local refining.
The Nigerian National Petroleum Company said it is sourcing additional crude through international trading channels to bridge supply gaps, noting that global procurement remains part of efforts to support domestic refining.
The company also pointed to existing crude sales commitments as a factor affecting immediate availability for local processors.
Industry stakeholders have called for improved crude allocation to domestic refineries, warning that continued shortages could undermine Nigeria’s industrialisation and energy security objectives.
The Nigerian National Petroleum Company said it is sourcing additional crude through international trading channels to bridge supply gaps, noting that global procurement remains part of efforts to support domestic refining.
The company also pointed to existing crude sales commitments as a factor affecting immediate availability for local processors.
Industry stakeholders have called for improved crude allocation to domestic refineries, warning that continued shortages could undermine Nigeria’s industrialisation and energy security objectives.
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