The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) is consulting stakeholders across the oil and gas industry on the introduction of a domestic crude oil and gas swap arrangement aimed at reducing costs and improving the availability of petroleum products in Nigeria.
The Commission Chief Executive, Mrs Oritsemeyiwa Eyesan, disclosed this on Thursday, August 13, 2026, during a courtesy visit to the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) in Abuja.
Eyesan said the proposed swap mechanism, once its modalities are finalised, would strengthen compliance with the Domestic Crude Supply Obligation (DCSO) and the Domestic Gas Supply Obligation.
She added that the initiative would be coordinated in collaboration with the Gas Aggregation Company of Nigeria Limited (GACN).
According to the NUPRC, domestic crude supply to local refineries recorded significant improvement in the second quarter of 2026. A total of 53.7 million barrels of crude oil were supplied to local refiners between April and June, representing an overall performance of 97.4 per cent for the quarter.
Despite the improvement, Eyesan noted that Nigeria still imports crude oil, prompting the Commission to engage industry stakeholders on measures to address the challenge and further strengthen domestic supply.
The proposed crude and gas swap arrangement is expected to support local refining, reduce supply costs and enhance the availability of petroleum products in the domestic market.
The NUPRC said the consultations are ongoing as stakeholders work towards finalising the framework for the proposed arrangement.
