Local Refiners Receive 46% of Crude Oil Supply in Q1 2026

In the first quarter of 2026, local refiners in Nigeria received only 46% of the promised crude oil supply, translating to 28.5 million barrels from a potential allocation of 61.9 million barrels. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC), through its head of media and corporate communications, Eniola Akinkuotu, reported that the actual supply fell short due to a price gap between producers and local refiners.

The monthly allocation showed that in January, 22.6 million barrels were mandated for local refiners, with producers offering 25.3 million barrels, an increase of 11.9%. However, in February, the allocation was 20.5 million barrels, with actual supply dropping to 19.8 million barrels, missing the target by 700,000 barrels.

March saw a slight improvement with 10.1 million barrels delivered. The NUPRC reaffirmed its commitment to achieving the government's energy sufficiency objectives and enhancing transparency and efficiency in local refinery supply.