Nigeria exported 55.39 million barrels of crude oil in the first two months of 2026, even as the Dangote Petroleum Refinery continues to struggle with inadequate domestic feedstock supply.
According to the Central Bank of Nigeria, 31.31 million barrels were exported in January and 24.08 million barrels in February. Production averaged 1.46 million barrels per day in January and 1.31 million barrels per day in February.
Total production for the period stood at 81.94 million barrels, leaving 26.55 million barrels for local use.
Despite Nigeria being Africa’s largest oil producer, a significant portion of crude continues to be exported while local refineries struggle with supply shortages.
The Dangote refinery, with a capacity of 650,000 barrels per day, has repeatedly complained about insufficient domestic crude supply and has had to import crude from international markets.
Between October 2025 and mid-March 2026, the refinery reportedly faced a shortfall of about 79.53 million barrels, receiving far below its required monthly allocation of 19.77 million barrels.
While the refinery requires about 19.77 million barrels monthly, it received significantly less across the period, leading to operational constraints.
Industry stakeholders continue to argue that more crude should be prioritised for local refining in line with the Petroleum Industry Act.
