The national oil regulator announced that despite tight domestic supply, Nigerian refineries, including the Dangote Refinery, increased their domestic crude needs for the second half of 2024 to 597,700 barrels per day, up from 483,000 bpd in the first half of 2024.

Dangote Refinery, which is the largest in Africa, says it needs to increase its rough imports due to inadequate domestic supplies, which could impact its ambitions for this year and its long-term prospects. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) for its part, which was only able to get 177,777 bpd from oil producers in the first six months of the year, said oil producers could not meet the demands because some had operational problems and others had promised most of their output to traders who financed drilling. He also said that forcing them to increase their supply would be a violation of their contracts. The regulator also forecast average domestic crude oil production of 1.7 million bpd by December 2024, higher than the 1.57 million bpd forecast for the January-July period, which producers failed to