The Crude Oil Refinery Owners Association of Nigeria (CORAN) has urged the government and regulators to urgently establish a commercially sensible pricing template for crude supplied to domestic refineries.
The Association noted that Nigeria remains one of Africa’s largest crude-oil producers yet domestic refiners can still encounter significant difficulties obtaining Nigerian crude on commercially workable terms. This contradiction according to the body should concern every policymaker.
The demand is coming as some of the marketers blacklisted by Dangote refinery over import of petrol defended their position saying the Nigerian Downstream Petroleum Regulatory Authority (NMDPRA) issued them with import license contending that locally refined products was of short supply.
One of the marketers who spoke to our correspondent on condition of anonymity said the firm was approached by the regulator claiming that the import substitution has become imperative to sustain supply. The marketer said it is still willing to import whenever the need arises.
CORAN in a position paper obtained by our correspondent recalled that during the first quarter of 2026, 61.9 million barrels were allocated to domestic refineries and producers offered 68.7 million barrels. It further stated that actual deliveries, however, amounted to only 28.5 million barrels.
