The Chief Executive Officer of Dangote Petroleum Refinery, David Bird, has revealed that the 650,000 barrels-per-day facility is currently receiving only about five crude oil cargoes each month—far below its operational requirement.
According to him, the refinery was built to process between 13 and 15 cargoes monthly in order to adequately meet Nigeria’s domestic fuel demand. “At the moment, we are only receiving five, which falls short of the agreed supply volumes,” he stated during an interview on ARISE News.
Bird further explained that the disparity between crude purchase prices and existing market premiums is resulting in financial losses for Nigeria, as the margin is being captured by international traders rather than retained within the country.
Addressing the crude-for-naira initiative, he clarified that the policy is aimed at strengthening Nigeria’s foreign exchange stability and is not solely designed to favour the Dangote Refinery. He emphasized that refining local crude using local currency serves the broader national interest.
Despite the limited crude supply, the refinery continues to operate at full capacity, meeting both domestic and regional fuel demands.
In a related development, the Group Chief Executive Officer of NNPC Limited, Engr. Bashir Bayo Ojulari, recently visited the Dangote Refinery and Petrochemical Complex in Ibeju-Lekki, Lagos, as part of efforts to deepen collaboration between both organizations. The visit featured a tour of the facility and strategic discussions on commercial and operational partnerships.
Ojulari praised the President of Dangote Group, Aliko Dangote, for successfully delivering the refinery project, describing it as a transformative development that positions Nigeria as a major player in Africa’s downstream sector. He also pointed to potential areas of cooperation, including upstream ventures, trading, shipping, and gas supply.
He commended President Bola Ahmed Tinubu for implementing reforms in the oil and gas sector, noting that improved policies and a more investor-friendly environment have paved the way for stronger industry partnerships.
Dangote expressed optimism that enhanced collaboration with NNPC Limited will benefit Nigerians through improved efficiency, cost savings, and increased value across the energy market.
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