Business A.M
No Result
View All Result
Tuesday, April 21, 2026
  • Login
  • Home
  • Technology
  • Finance
  • Comments
  • Companies
  • Commodities
  • About Us
  • Contact Us
Subscribe
Business A.M
  • Home
  • Technology
  • Finance
  • Comments
  • Companies
  • Commodities
  • About Us
  • Contact Us
No Result
View All Result
Business A.M
No Result
View All Result
Home Energy

Nigeria’s crude exports hit 55.39m barrels amid Dangote supply shortfall

by Onome Amuge
April 21, 2026
in Energy
Fuel market on edge as Dangote halts naira petrol sales

Nigeria exported 55.39 million barrels of crude oil in the first two months of 2026, even as the Dangote Petroleum Refinery struggles with inadequate domestic feedstock supply.

Latest data from the Central Bank of Nigeria (CBN) show that 31.31 million barrels were shipped in January and 24.08 million barrels in February. Crude production averaged 1.46 million barrels per day (mbpd) in January, with exports at 1.01 mbpd, before declining to 1.31 mbpd in February, with exports of 0.86 mbpd.

Total production over the two-month period stood at 81.94 million barrels, leaving 26.55 million barrels available for domestic refining; far below the requirements of Nigeria’s largest refining facility.

The export strength comes despite mounting supply challenges at the 650,000 barrels-per-day Dangote refinery, which has repeatedly flagged insufficient access to locally produced crude, forcing increased reliance on imports.

Industry data indicate that the refinery has faced a cumulative supply shortfall of approximately 79.53 million barrels between October 2025 and mid-March 2026. While the plant requires about 19.77 million barrels monthly to operate at full capacity, actual deliveries have remained significantly below this threshold.

Breakdowns show the refinery received 4.55 million barrels in October, 6.45 million in November, 4.30 million in December, 5.65 million in January, and 4.66 million in February, with only 3.6 million barrels supplied in the first half of March. In total, just 29.21 million barrels were delivered over the five-and-a-half-month period, against an estimated requirement of 108.74 million barrels, representing a supply performance of roughly 26.9 percent.

The imbalance persists despite Nigeria’s status as Africa’s largest crude producer and the framework of the Petroleum Industry Act (PIA), which prioritises domestic supply before exports. Market participants say a significant share of output continues to be exported under existing trading arrangements.

Under the naira-for-crude structure, the refinery has also raised concerns over pricing and volume constraints. The facility reportedly receives about five cargoes monthly from Nigerian National Petroleum Company Limited (NNPC), compared to a requirement of 13 cargoes, with supplies priced at international benchmarks plus premium.

The supply gap has had downstream implications, contributing to multiple fuel price adjustments. Petrol prices recently rose above N1,300 per litre before easing to around N1,250, reflecting elevated crude sourcing costs amid global supply disruptions.

Dangote refinery officials attribute the pricing pressures to limited domestic supply, noting that reliance on imported crude attracts additional premiums from international traders.

NNPC sources, however, maintain that the company is leveraging its global trading network to source third-party crude for the refinery at competitive rates. The national oil firm said it remains committed to supporting domestic refining within the constraints of current supply availability.

 

Onome Amuge

Onome Amuge serves as online editor of Business A.M, bringing over a decade of journalism experience as a content writer and business news reporter specialising in analytical and engaging reporting. You can reach him via Facebook ,X and  LinkedIn

Previous Post

UK state pension compared globally: Why Britons should consider ISAs, SIPPs, and private investments

Next Post

ZIGChain, Beehive advance tokenised SME lending model

Next Post
ZIGChain, Beehive advance tokenised SME lending model

ZIGChain, Beehive advance tokenised SME lending model

  • Trending
  • Comments
  • Latest
Igbobi alumni raise over N1bn in one week as private capital fills education gap

Igbobi alumni raise over N1bn in one week as private capital fills education gap

February 11, 2026

CBN to issue N1.5bn loan for youth led agric expansion in Plateau

July 29, 2025

How UNESCO got it wrong in Africa

May 30, 2017

Glo, Dangote, Airtel, 7 others prequalified to bid for 9Mobile acquisition

November 20, 2017

6 MLB teams that could use upgrades at the trade deadline

Top NFL Draft picks react to their Madden NFL 16 ratings

Paul Pierce said there was ‘no way’ he could play for Lakers

Arian Foster agrees to buy books for a fan after he asked on Twitter

WATRA flags cable risks to West Africa’s $100bn digital market 

WATRA flags cable risks to West Africa’s $100bn digital market 

April 21, 2026
ZIGChain, Beehive advance tokenised SME lending model

ZIGChain, Beehive advance tokenised SME lending model

April 21, 2026
Fuel market on edge as Dangote halts naira petrol sales

Nigeria’s crude exports hit 55.39m barrels amid Dangote supply shortfall

April 21, 2026
UK state pension compared globally: Why Britons should consider ISAs, SIPPs, and private investments

UK state pension compared globally: Why Britons should consider ISAs, SIPPs, and private investments

April 21, 2026

Popular News

  • Igbobi alumni raise over N1bn in one week as private capital fills education gap

    Igbobi alumni raise over N1bn in one week as private capital fills education gap

    0 shares
    Share 0 Tweet 0
  • CBN to issue N1.5bn loan for youth led agric expansion in Plateau

    0 shares
    Share 0 Tweet 0
  • How UNESCO got it wrong in Africa

    0 shares
    Share 0 Tweet 0
  • Glo, Dangote, Airtel, 7 others prequalified to bid for 9Mobile acquisition

    0 shares
    Share 0 Tweet 0
  • Insurance-fuelled rally pushes NGX to record high

    0 shares
    Share 0 Tweet 0
Currently Playing

CNN on Nigeria Aviation

CNN on Nigeria Aviation

Business AM TV

Edeme Kelikume Interview With Business AM TV

Business AM TV

Business A M 2021 Mutual Funds Outlook And Award Promo Video

Business AM TV

Recent News

WATRA flags cable risks to West Africa’s $100bn digital market 

WATRA flags cable risks to West Africa’s $100bn digital market 

April 21, 2026
ZIGChain, Beehive advance tokenised SME lending model

ZIGChain, Beehive advance tokenised SME lending model

April 21, 2026

Categories

  • Frontpage
  • Analyst Insight
  • Business AM TV
  • Comments
  • Commodities
  • Finance
  • Markets
  • Technology
  • The Business Traveller & Hospitality
  • World Business & Economy

Site Navigation

  • Home
  • About Us
  • Contact Us
  • Privacy & Policy
Business A.M

BusinessAMLive (businessamlive.com) is a leading online business news and information platform focused on providing timely, insightful and comprehensive coverage of economic, financial, and business developments in Nigeria, Africa and around the world.

© 2026 Business A.M

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Technology
  • Finance
  • Comments
  • Companies
  • Commodities
  • About Us
  • Contact Us

© 2026 Business A.M