Nigeria crude oil exports hit 306 million barrels in 2025, CBN data shows, as local refineries struggle with persistent feedstock shortages
Nigeria exported about 306 million barrels of crude oil between January and October 2025, despite persistent complaints of shortages by local refiners, according to data from the Central Bank of Nigeria.
Also read: Naira shows strong resilience, gains against dollar in January
The figures show that while Nigeria produces substantial crude volumes, most output is directed to foreign markets, leaving domestic refineries struggling to secure feedstock.
During the 10-month period, Nigeria produced about 443.5 million barrels of crude oil, averaging roughly 1.45 million barrels per day.
Exports accounted for nearly 69 per cent of total production, leaving about 137 million barrels for domestic use.
The data deepen concerns raised by operators, including Dangote Petroleum Refinery, which has repeatedly complained of inadequate crude supply despite the naira for crude arrangement.
The refinery has, on several occasions, sourced crude from the United States and neighbouring African countries, including Ghana, to sustain operations.
Members of the Crude Oil Refiners Association of Nigeria have also reported intermittent shutdowns of modular refineries due to crude shortages.
January recorded average production of 1.54 million barrels per day, translating to 47.74 million barrels for the month. February followed with 41.16 million barrels from daily output of 1.47 million barrels.
Production dipped to about 1.40 million barrels per day in March before recovering modestly to 1.51 million barrels per day in June and July.
Output eased again between August and October, with September averaging 1.39 million barrels per day and October closing at 1.40 million barrels.
Export volumes mirrored production trends. January exports averaged 1.09 million barrels per day, totalling 33.79 million barrels.
February exports stood at 28.56 million barrels, with cumulative exports reaching about 306.7 million barrels by October.
The imbalance between exports and domestic supply persists despite the Domestic Crude Supply Obligation under the Petroleum Industry Act.
The policy requires producers to allocate crude to local refineries before exports.
The Nigerian Upstream Petroleum Regulatory Commission enforces the obligation, aiming to strengthen energy security and boost local refining capacity.
Refiners, however, argue that implementation has been weakened by the willing buyer willing seller policy, which exposes them to international pricing.
Speaking to The PUNCH, the National Publicity Secretary of the Crude Oil Refiners Association of Nigeria, Eche Idoko, said several refineries operate far below capacity due to inadequate feedstock.
Idoko said a modular refinery such as OPAC, with a 10,000-barrel capacity, often produces only about 1,000 barrels and shuts down for months at a time.
He added that the Dangote refinery recently operated at about 60 per cent capacity because of crude shortages, while others still source feedstock externally.
Idoko said upstream producers prefer export sales due to dollar payments, leaving local refiners unable to compete because of currency volatility and limited forex access.
He warned that the situation undermines Nigeria’s goal of refining self-sufficiency.
Last year, the NUPRC said it would deny export permits to producers that fail to meet domestic supply obligations.
The regulator also disclosed that several crude cargoes reserved for local refiners were rejected due to pricing and crude grade issues.
The President of the Dangote refinery, Aliko Dangote, said in December that the facility imported about 100 million barrels of crude from the United States within a year.
Energy experts say the data present a stark reality. Nigeria produces enough crude to meet both export and domestic needs, but export prioritisation continues to leave local refineries starved of feedstock.
Also read: Naira shows strong resilience, gains against dollar in January
An energy expert, Professor Dayo Ayoade, urged the Federal Government to prioritise domestic refineries in crude allocation to unlock Nigeria’s full refining potential.
