Crude supply to domestic refineries surge by 88% on bankable agreements, production growth 

The total volume of crude oil and condensate supplied to local refiners in Nigeria increased significantly to 53.7 million barrel in the second quarter (April – June) of 2026, representing a 88.4 percent increase when compared to 28.5 million barrels recorded in previous quarter.

“On a monthly basis, the Commission meets with stakeholders including crude oil producers and local licensed refineries after which the producers are allocated a specific volume of their crude oil and condensate which should be offered to local licensed refineries.

“However, in line with the PIA, the framework operates on a “willing buyer, willing seller” basis, which shapes eventual outcomes,” the commission stated.

On a monthly basis, the report showed that while a total of 18, 127, 638 barrels were allocated to producers in April, producers exceeded expectation, offering 19, 312, 476 barrels to refiners. Eventually, 20, 879, 381 barrels were supplied to local refiners, meaning the producers met 114.9 percent of their allocation.

In May, the Commission allocated 18,778, 392 barrels of crude oil to the producers but the producers offered 23,187,893 barrels to the local refiners.

However, the producers’ actual supply to the refiners by the end of the month stood at 14, 228, 865 barrels representing 75.8 percent compliance.

Also, in the month of June, the Commission allocated 18, 172,638 barrels to the producers, while producers offered 26, 835, 119 barrels to refiners which in turn took 18, 606, 026 barrels representing a 102.4 percent performance.

At the level of refinery participation, the statistics show that the Dangote Refinery required 63 million barrels in Q2 but the producers offered a total of 68.1 million barrels.

The 68.1 million barrels offered to the Dangote Refinery by producers represents 98 percent of all offered volumes.

However, only 52.6 million barrels were accepted by the Dangote refinery. This implies that the refinery only accepted 78 percent of what it was offered.

“The Commission reaffirms its commitment to achieving the government’s objective of energy sufficiency. Leveraging the framework of the PIA, 2021, the Commission aims to sustain recent gains in crude oil production while continuously enforcing the DCSO,” it stated.