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NUPRC has begun wide-ranging consultations with industry stakeholders on a domestic crude oil and gas swap initiative aimed at reducing logistics costs.
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The proposed swap mechanism is expected to improve compliance with the Domestic Crude Supply Obligation (DCSO) and Domestic Gas Supply Obligation (DGSO), while strengthening coordination with the Gas Aggregation Company Nigeria Limited (GACN).
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The Commission disclosed that domestic crude deliveries to local refineries surged to 53.7 million barrels in the second quarter of 2026, achieving a 97.4 per cent performance rate despite continued crude imports into the country.
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NMDPRA has thrown its weight behind the initiative, while advocating the creation of strategic petroleum reserves to enhance energy security.
NMDPRA Backs Strategic Petroleum Reserves
