Nigeria’s upstream regulator has earmarked 61.9 million barrels of crude oil for domestic refineries in the first quarter of 2026, although actual deliveries fell significantly below the volumes allocated.
The Nigerian Upstream Petroleum Regulatory Commission disclosed this in its latest data on the implementation of the Domestic Crude Supply Obligation under the Petroleum Industry Act 2021.
According to the report, while producers made available about 68.7 million barrels during the period, only 28.5 million barrels were ultimately supplied to local refineries, reflecting a conversion rate of roughly 36 to 46 per cent.
A month-by-month analysis showed that in January, refiners were allocated 22.6 million barrels, with producers exceeding that figure by offering 25.3 million barrels. Despite the surplus, actual deliveries stood at 9.2 million barrels.
In February, 20.5 million barrels were earmarked for domestic refining, but producers offered slightly less at 19.8 million barrels. Supplies dropped further to 9.1 million barrels during the month.
March recorded a slight improvement, with deliveries rising to 10.1 million barrels. Allocations for the month were put at 18.8 million barrels, while producers offered a higher volume of 23.6 million barrels.
The regulator attributed the persistent gap between volumes offered and actual deliveries mainly to disagreements over pricing between oil producers and local refiners, noting that transactions are conducted on a “willing buyer, willing seller” basis.
It added that efforts remain ongoing to strengthen domestic supply arrangements, improve transparency, and enhance efficiency, with the broader goal of ensuring steady crude availability for local refineries and supporting national energy security.