Nigeria Exports 306 Million Barrels of Crude Amid Local Refinery Shortages

Nigeria exported 306 million barrels of crude oil between January and October 2025, with local refineries struggling due to feedstock shortages. Despite producing 443.5 million barrels of crude oil during this period, domestic refineries faced limitations in supply.

The Central Bank of Nigeria data revealed that around 69% of the total production was exported, leaving only a limited amount for domestic use. The Nigerian Upstream Petroleum Regulatory Commission enforced policies to prioritize crude supply to local refineries, aiming to boost energy security and reduce import dependence.

However, challenges in accessing crude oil persisted, leading to operational constraints for both large and modular refineries in Nigeria. The situation raised concerns about the competitiveness of local refineries in the international market and highlighted the need for policy adjustments to address feedstock shortages and enhance domestic refining capacity.