Crude oil producers offered about 182 million barrels to Nigerian domestic refineries between January and August 2026, but only 112 million barrels were eventually transacted, the Nigerian Upstream Petroleum Regulatory Commission has said.
Oritsemuyiwa Eyesan, chief executive officer of the NUPRC, disclosed the figures at the 3rd Nigeria Oil Refining Summit in Lagos.
Represented by Boma Atiyegoba, a deputy director at the commission, Eyesan said domestic refiners had declared a requirement of 154.6 million barrels during the eight-month period.
The crude offered by producers was therefore about 118 percent of the volume declared by refiners.
However, the difference between the volume offered and the quantity actually transacted shows that crude availability alone has not resolved the supply challenges facing domestic refineries.
Eyesan attributed the incomplete transactions to commercial and operational issues, including pricing, payment security, crude quality and delivery schedules.
She explained that producers remain concerned about the security of payments, reliability of buyers and existing export commitments, while refiners are concerned about obtaining the required crude at suitable prices and receiving it within agreed delivery timelines.
The NUPRC said it is working to improve coordination between both sides by providing better information on refinery demand and crude availability.
The commission also plans to strengthen monitoring of domestic supply obligations and increase engagement with producers and refiners.
As part of efforts to improve crude deliveries, the NUPRC has completed consultations on a proposed domestic crude swap arrangement.
Under the proposed system, producers located closer to export terminals could exchange their domestic supply obligations with producers whose crude is closer to Nigerian refineries.
The commission expects the arrangement to reduce transportation costs and delivery times while making it easier for refiners to access crude.
Eyesan also said the regulator is working to increase oil production by accelerating field development and bringing shut-in wells and marginal assets back into production.
She stressed that higher crude output will become increasingly important as Nigeria’s domestic refining capacity expands and refineries require more feedstock.
Speaking at the event, Heineken Lokpobiri, Minister of State for Petroleum Resources (Oil), called for greater cooperation between crude producers and domestic refiners.
Lokpobiri said upstream producers need commercially viable returns to support investment in exploration, production and infrastructure, while refiners require dependable crude supplies at sustainable prices to maintain continuous operations.
He said both segments should be viewed as interconnected parts of the same petroleum value chain rather than competing interests.
The minister also reaffirmed the willing-buyer, willing-seller principle under the Petroleum Industry Act as the basis for domestic crude transactions.
The latest figures highlight the need to address commercial and logistical barriers alongside efforts to increase crude production as Nigeria seeks to strengthen domestic refining.
