Dangote Petroleum Refinery imported approximately 39.9 million barrels of crude oil in May and June, costing roughly $4.43 billion, according to industry analysis.
The sustained volume of foreign purchases signals that Nigeria’s domestic crude supply remains insufficient to meet the operational needs of its largest refining facility, despite government efforts to prioritize local sourcing for domestic refineries.
84 million barrels in May 2026, data previously reported by Handelsavisen showed.
The import surge comes as Nigeria’s domestic crude oil supply to refineries fell to 15.84 million barrels in May 2026, data previously reported by Handelsavisen showed.
This decline occurred even as the facilities achieved a combined intake of 17.92 million barrels, indicating a growing reliance on external sources to bridge the gap.
The Dangote refinery has become the primary beneficiary of these imports, including an average of two million barrels sourced from Libya, marking the first time the West African nation has secured crude from the North African country.
Experts argue that the scale of these imports challenges the effectiveness of the naira-crude initiative, which aimed to reduce foreign exchange outflows by matching domestic refineries with local crude.