The Federal Government of Nigeria has officially deployed a real-time automated crude oil trading platform designed to harmonize feedstock allocation, pricing transparency, and direct delivery to domestic refiners.
​Launched during an executive industry briefing on Thursday, August 13, 2026, at the Eko Hotels & Suites in Lagos, the portal establishes a centralized digital exchange connecting upstream producers, midstream processors, downstream marketers, and sector regulators.
​Developed jointly under the oversight of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), the portal automates transactions under the Domestic Crude Supply Obligation (DCSO) framework to end manual reconciliation delays.
​Operational data presented during the platform’s launch underscored the evolving market dynamics of domestic crude supply. During the second quarter of 2026, major local facilities—led by the Dangote Petroleum Refinery—requested 63 million barrels of crude oil to sustain operations.
Upstream domestic producers offered a total volume of 68.1 million barrels over the same period. Ultimately, a final cleared supply of 52.6 million barrels was allocated and accepted, representing a 78 percent match rate, optimized to suit specific refinery plant configurations, commercial terms, and crude quality specifications.
​Speaking at the unveiling, Gbenga Komolafe, Commission Chief Executive of the NUPRC, highlighted the system’s role in market transparency:
​”This platform removes operational friction from our domestic market. By digitizing allocations, contract execution, and regulatory oversight in real time, we ensure fair commercial pricing and guarantee consistent feedstock supply to indigenous refiners.”
​Representing refiners, Devakumar Edwin, Group Vice President at Dangote Industries Limited, emphasized market-driven execution:
​”Our priority remains procuring Nigerian crude efficiently at transparent, competitive market rates. An automated exchange allows us to optimize supply chains and maintain the cost-efficiencies needed to deliver affordable petroleum products nationally.”
​By replacing legacy paper-based clearing systems with instant contractual matching, the platform permanently addresses long-standing supply bottlenecks across the midstream sector.
Furthermore, the centralized exchange establishes a clear, market-driven domestic crude price benchmark that strengthens price discovery. This technological shift directly supports the federal government’s broader economic framework, including the naira-for-crude sale policy and long-term national energy security objectives.
