Domestic refiners in Nigeria left an estimated $3.13 billion worth of crude oil unlifted in the first quarter of 2026 due to pricing disputes and structural challenges in the crude supply framework, despite significant production availability.
Local refiners in Nigeria received 46% of the promised crude oil supply in Q1 2026, with actual deliveries totaling 28.5 million barrels out of a potential 61.9 million barrels. The shortfall is attributed to price gaps affecting supply.
Domestic refiners in Nigeria are struggling despite a crude oil supply worth $5.17 billion in Q1 2026. They lifted only 28.5 million barrels out of 68.7 million allocated, resulting in a conversion rate of 36.46%, highlighting ongoing supply chain issues.
