Crude oil supply from the Nigerian National Petroleum Company Limited’s trading arm surged in April 2026, with shipment records indicating that more than 1.03 million metric tonnes, equivalent to about 6.8 million barrels or over 1.08 billion litres, were delivered to the Dangote Oil and Gas Company Limited within the month.

An analysis of tanker vessel movements obtained by The PUNCH on Tuesday shows that the deliveries were executed through eight crude cargoes handled by NNPC Trading, reinforcing the state oil firm’s role as a major feedstock supplier to the 650,000 barrels-per-day Dangote refinery.

The shipments, sourced from key Nigerian crude streams including Anyala, Bonga, Odudu, Forcados, Qua Iboe, and Utapate, were routed through the refinery’s Single Point Mooring systems, SPM-C1 and SPM-C2.

The document shows that out of the eight cargoes, five have been fully discharged, while three others are still awaiting berthing or completion, indicating a steady pipeline of crude inflows into the refinery.

This development comes amid the refinery’s continued complaints of supply inadequacies, with a total requirement of 19 cargoes monthly, and a recent report that the country imported 55.39 million barrels in January and February 2026.

A breakdown of the deliveries showed that Sonangol Kalandula initiated the supply chain, delivering 123,000 metric tonnes of crude from Anyala. The vessel arrived on April 5, berthed on April 8, and sailed on April 9.

This was followed by Advantage Spring, which supplied 128,190 metric tonnes from Bonga, arriving on April 11 and completing discharge by April 13.

Similarly, a vessel code-named Barbarosa delivered 125,000 metric tonnes from Odudu, while Sonangol Njinga Mban transported 129,089 metric tonnes from Bonga.

Another completed shipment, handled by Nordic Tellus, brought in 139,066 metric tonnes from Forcados, completing discharge on April 17.

However, three additional cargoes remain in progress. Advantage Sun, carrying 142,327 metric tonnes from Bonga, has arrived but is yet to berth. Also pending are Advantage Spring from Utapate with 120,189 metric tonnes, and Sonangol Kalandula from Qua Iboe with 126,471 metric tonnes.

In total, the NNPC Trading cargoes account for 1,033,332 metric tonnes of crude, underscoring what industry analysts describe as a “strong and sustained supply commitment” to the Dangote refinery.

Further findings show that, beyond crude deliveries, the Dangote refinery also received multiple shipments of refined products and blending components from international markets during the period.

Among them, Seaways Lonsdale delivered 37,400 metric tonnes of blendstock gasoline from Immingham, United Kingdom, handled by Vitol, between April 18 and 19.

Another vessel, Augenstern, supplied 37,125 metric tonnes of Premium Motor Spirit from Lavera, France, discharging between April 8 and 9.

From Norway, Emma Grace brought in 37,496 metric tonnes of PMS from Mongstad, while LVM Aaron delivered 36,323 metric tonnes from Lome, Togo.

Similarly, Egret discharged 35,498 metric tonnes of naphtha from Rotterdam between April 16 and 18, providing critical feedstock for gasoline blending.

A pending shipment, Mont Blanc I, carrying 36,877 metric tonnes of blendstock gasoline from Antwerp, Belgium, is yet to berth, while Aesop is expected to deliver 130,000 metric tonnes of residue catalytic oil from Singapore later in April.

In addition to NNPC Trading volumes, other crude cargoes from international and domestic traders also supported refinery operations.

Notably, Yasa Hercules delivered 273,287 metric tonnes of crude from Corpus Christi, United States, while Front Orkla brought in 264,889 metric tonnes from Ingleside, US.

A major cargo, Navig8 Passion, supplied 496,330 metric tonnes of crude from Cameroon, highlighting regional supply integration.

Domestic contributions included Harmonic, which delivered nearly 993,240 barrels from Ugo Ocha, and Aura M, which supplied 1 million barrels from Escravos, alongside an additional 651,331 barrels of cargo from Anyala.

Operational data indicate that most vessels berthed within one to two days of arrival and departed shortly after discharge, suggesting improved efficiency at the refinery’s offshore terminals.

The Dangote refinery, located in Lekki, Lagos, is Africa’s largest single-train refinery, with a nameplate capacity of 650,000 barrels per day.

The facility is expected to significantly reduce Nigeria’s dependence on imported petroleum products by refining domestic crude and supplying petrol, diesel, aviation fuel, and other derivatives to the local market.

NNPC Limited, through its trading arm, has remained a central player in supplying crude to the refinery under evolving commercial arrangements, amid ongoing reforms in Nigeria’s downstream oil sector.

Earlier this month, Africa’s richest man and President of the Dangote Group, Aliko Dangote, revealed in a report by Bloomberg that the refinery received 10 cargoes of crude oil from the state-owned oil firm in March, compared to an average of about five cargoes monthly since late 2024.

Dangote said the shipments included six cargoes paid for in naira and four in dollars, under the crude supply arrangement between the refinery and the NNPC.

UAC of Nigeria Plc has listed its N54.03bn Series 1 bond on Nigerian Exchange Limited, underscoring the Exchange’s growing profile as a multi-asset platform and providing the company with access to long-term capital.

The seven-year senior unsecured instrument, admitted to trading on 17 April 2026, carries a fixed coupon of 17.35 per cent and was issued under UACN’s N150bn multi-instrument programme.

Priced at par with 54.03 million units at N1,000 each, the bond will mature on 15 December 2032. Similarly, investors will receive semi-annual coupon payments on 15 June and 15 December throughout the tenor. The offer closed in December 2025.

The structure features a four-year moratorium on principal repayment, after which amortisation will commence, with an option for early redemption at the issuer’s discretion.

Commenting on the listing, Vice Chairman of Highcap Securities Ltd, David Adonri, said, “What stands out is the continued ability of issuers like UAC of Nigeria Plc to access long-term funding.

This reflects both the depth of the domestic debt market and the growing relevance of NGX as a credible platform for capital raising across asset classes.”

The transaction was jointly arranged by Stanbic IBTC Capital Limited, Chapel Hill Denham Advisory Limited, Quantum Zenith Capital & Investments Limited, and FCMB Capital Markets Limited, with Chapel Hill Denham Securities Limited acting as stockbroker. Stanbic IBTC Trustees Limited served as trustee, while Africa Prudential Plc was appointed registrar.

This listing highlights NGX’s continued evolution beyond equities, strengthening its fixed income segment and further reflecting its profile as a more diversified, multi-asset marketplace.

Nigeria’s oil and gas industry may be heading toward a critical turning point, not due to declining reserves or asset divestments, but because of a growing shortage of skilled professionals needed to sustain the sector’s future growth.

This warning came from the Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission, Oritsemeyewa Eyesan, who urged indigenous operators to urgently invest in human capital development or risk undermining the industry’s long-term viability.

She charged the Independent Petroleum Producers Group to uphold industry standards, strengthen human capital development, and promote good corporate governance.

This was disclosed in a statement issued on Tuesday by the Head of Media and Corporate Communications, Eniola Akinkuotu.

Speaking during a courtesy visit by the Independent Petroleum Producers Group, led by its Chairman, Adegbite Falade, at the Commission’s headquarters in Abuja, Eyesan said the growing dominance of local firms following the exit of international oil companies had placed greater responsibility on indigenous players.

She warned that without deliberate investment in skills and capacity, the industry could face a crisis that would affect not just individual companies but Nigeria’s global standing.

Eyesan added that the implications of weak capacity go beyond company performance, stressing that global investors assess Nigeria as a whole.

“One area I think we need to spotlight is human capital development. As the industry grows, there is a tendency toward default, and if we allow that to fester, it will hurt all of us.

“Because we are in a global market, the financiers are rating Nigeria; they are not rating companies, and if we do not bring our human capacity to par, then we will be creating a big problem for ourselves,” she said.

With divestments by international oil companies reshaping Nigeria’s upstream landscape, Eyesan described the IPPG as a “significant force” that must now uphold the highest industry standards.

She challenged the group to enforce discipline among its members and emulate the operational standards historically associated with multinational operators.

“As a pressure group, you should hold yourselves to a standard. I think that is one of the things the IOCs have done very well,” she said.

The NUPRC boss also stressed strict compliance with the Petroleum Industry Act 2021, noting that strong corporate governance and regulatory alignment are essential to sustaining investor confidence.

Reaffirming the Commission’s role as a business enabler, Eyesan assured operators of continued regulatory support in line with the economic agenda of President Bola Tinubu.

She also disclosed that the Commission had fully transitioned to a paperless system as part of broader reforms to improve efficiency and transparency.

“When I took over, we realised we needed to transform, and we set up a transformation team. We are happy to announce that on Friday, April 18, 2026, we went paperless, and everybody collaborated to make it happen,” she said.

Responding, Falade commended the NUPRC leadership, noting that the industry had begun to witness positive changes since Eyesan assumed office in December 2025.

“You have not been here for long, but the signs are very clear as to your dynamic leadership. We will not stop emphasising that because we do not take it for granted,” he said.

He also called for sustained engagement between the regulator and indigenous producers, pledging the group’s commitment to national development.

“You can always count on and trust that the Nigerian agenda is at the heart of our mandate,” Falade added.

Nigeria’s oil and gas sector is undergoing a major transition, driven by the divestment of international oil companies and the increasing role of indigenous operators. While this shift has been hailed as a step toward local content development, industry experts warn that it has also exposed a widening skills gap.

For decades, multinational firms provided technical expertise, training, and global best practices. Their gradual exit has left indigenous companies with the challenge of filling that void, often without sufficient technical manpower.

The shortage of skilled professionals, from engineers and geoscientists to project managers, could slow production growth, weaken operational efficiency, and ultimately affect Nigeria’s competitiveness in the global energy market.