Local Refineries Imports 2m Barrels of Libyan Crude for First Time
Nigeria has imported two million barrels of crude oil from Libya in May 2026, marking the country’s first recorded import of Libyan crude.
The Dangote Petroleum Refinery was the major importer.
The move comes as Nigeria continues to export most of its locally produced crude, leaving domestic refineries short of feedstock.
According to the Energy Research Unit, Nigeria imported about 64,500 barrels per day of Libyan crude in May.
“The shipment marks the first recorded Nigerian import of Libyan crude in available historical data dating back to 2013,” the report stated.
Although Libya’s National Oil Corporation denied any supply talks with Nigerian refineries back in 2024, the agreement has now materialised, with Dangote ramping up capacity to 700,000 barrels per day and targeting 1.4 million barrels per day by 2028.
In 2026, the refinery has already imported crude from Angola, Ghana, Guyana, Libya, and the UAE, diversifying its feedstock amid persistent domestic shortages.
Nigeria exported about 148.9 million barrels of crude worth ₦20.22tn in the first five months of 2026, representing 68.7% of total production. This left only 67.95 million barrels available for local refining and storage, underscoring the supply gap.
Libya, meanwhile, is expanding its role in regional energy markets. Egypt imported 33,000 barrels per day in April and Tunisia increased purchases to 19,000 barrels per day in March.
Italy remains Libya’s largest customer, taking 348,000 barrels per day in May.
The imports highlight Nigeria’s growing reliance on external crude sources, even as it competes with Libya for investors.
Global disruptions linked to the US–Iran conflict have further reshaped trade flows, boosting Libya’s exports to Africa and Europe.
Dangote’s refinery recently purchased two cargoes from the UAE, its first Middle Eastern crude imports, signalling a shift from traditional reliance on Nigerian and African grades to a broader global sourcing strategy.