The Chief Executive Officer of Dangote Petroleum Refinery, David Bird, has revealed that the facility is receiving far less crude oil than required to meet its full operational needs.
Speaking during an interview on ARISE News, Bird disclosed that the 650,000 barrels-per-day refinery currently receives only about five crude oil cargoes per month far below its designed capacity of 13 to 15 cargoes needed to meet Nigeria’s domestic fuel demand.
“Currently, we’re only getting five. So, that’s an underperformance against the pre-agreed volume contract,” he said.
Bird warned that the shortfall is costing Nigeria significantly, noting that the gap between crude purchase prices and prevailing premiums is benefiting international traders rather than the country.
“That value between the purchase price and the premium we’re now seeing is money Nigeria is losing to the international trading community,” he added.
Addressing the crude-for-naira policy, the refinery boss clarified that the initiative is aimed at strengthening Nigeria’s foreign exchange position and is not designed solely to benefit the refinery.
“It is in the country’s interest to process domestic crude in local currency,” he explained.
Despite the supply challenges, Bird maintained that the refinery is operating at full capacity and continues to supply both domestic and regional markets.
Meanwhile, the Group Chief Executive Officer of NNPC Limited, Bashir Bayo Ojulari, recently visited the Dangote Refinery and Petrochemical Complex in Ibeju-Lekki, Lagos, as part of efforts to deepen collaboration between both organisations.
During the visit, Ojulari toured the facility and held discussions on operational and commercial partnerships, while commending Aliko Dangote for delivering what he described as a landmark project positioning Nigeria as a major downstream hub in Africa.
He highlighted opportunities for both companies to expand into upstream operations, trading, shipping, and gas supply, signaling a broader strategic alliance.
Ojulari also praised President Bola Ahmed Tinubu for ongoing reforms in the oil and gas sector, noting that improved policy clarity and investor-friendly measures have created an enabling environment for such partnerships.
In his remarks, Dangote expressed optimism that Nigerians would benefit from the collaboration with NNPC Limited, stating that the partnership is expected to drive economies of scale and unlock greater value across markets.
ELIJAH ADEYEMI
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