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 latest data from the Central Bank of Nigeria, the country shipped out 31.31 million barrels in January and 24.08 million barrels in February. In January, crude production averaged 1.46 million barrels per day with exports at 1.01 mbpd. In February, production fell to 1.31 mbpd while exports averaged 0.86 mbpd.
Total crude production for the two months stood at 81.94 million barrels, meaning that 26.55 million barrels were left behind for local refineries in the first two months of 2026.
The strong export figures come at a time when the 650,000-barrel-per-day Dangote refinery is battling an acute shortage of local crude. The refinery has repeatedly complained of receiving far below its required volumes from domestic sources, forcing it to import crude from international markets.
This situation persists despite Nigeria’s position as Africa’s largest crude oil producer. Industry sources note that a significant portion of produced crude continues to be exported while the country’s flagship refinery grapples with supply constraints under the naira-for-crude arrangement.