Favour Ishember, Abuja
The Nigerian Upstream Petroleum Regulatory Commission is holding talks with industry players over a proposed local crude and gas exchange plan designed to cut expenses and boost product supply across the country.
Commission Chief Executive, Mrs. Oritsemeyiwa Eyesan disclosed this on Thursday, August 13, 2026, during a working visit to the NMDPRA office in Abuja.
In a press statement issued by Eniola Akinkuotu, Head, Media and Corporate Communications , Eyesan said that once the operating frameworks are concluded, adherence to the Domestic Crude Supply Obligation and the Domestic Gas Supply Obligation will get a strong lift. The rollout, she added, will be aligned with the Gas Aggregation Company Nigeria Limited.
New data from the Commission shows a sharp jump in local deliveries. Between April and June 2026, 53.7 million barrels of crude were delivered to domestic refiners, translating to a 97.4% delivery rate for Q2 2026.
Despite the surge, crude imports have not stopped.
To address this, Eyesan said the Commission is engaging stakeholders on next steps.
She explained, “One party has a supply commitment near an export terminal, while another has a commitment inland close to a local buyer. Rather than haul crude across the country, we simply agree to an exchange, with a clearing system to settle the volumes.”
On crude specifically, Eyesan noted that talks are still in the early phase.She also pledged to strengthen joint work with NMDPRA for the overall good of the sector.
In his response, NMDPRA, Chief Executive Mallam Rabiu Abdullahi Umar congratulated NUPRC on what he called a smooth and credible 2025 licensing round. He also commended the Commission for tighter enforcement of local crude supply to Nigerian refiners.
Umar pointed out that while the Petroleum Industry Act provides for transactions on a willing buyer, willing seller basis, pricing continues to be a key challenge.
To tackle that, NMDPRA threw its weight behind the establishment of strategic buffer stocks, saying they would enhance energy security and help keep prices stable.
