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The Chief Executive Officer of Dangote Petroleum Refinery, David Bird, has disclosed that the 650,000 barrels-per-day refinery currently receives only about five crude oil cargoes per month, significantly below its designed supply capacity.
Bird explained that the refinery is designed to handle 13 to 15 cargoes monthly to meet Nigeria’s domestic fuel requirements. “Currently, we’re only getting five. So, that’s an underperformance against the pre-agreed volume contract,” he said during an interview on ARISE News.
He noted that the gap between crude purchase prices and prevailing premiums represents revenue going to international traders rather than Nigeria. “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.
On the crude-for-naira policy, Bird clarified that it is designed to support national foreign exchange resilience and is not intended specifically to benefit Dangote Refinery. “It is in the country’s interest to process domestic crude in local currency,” he said.
Despite the supply constraints, Bird said the refinery is operating at full capacity and supplying both domestic and regional markets.
Meanwhile, the Group Chief Executive Officer of NNPC Limited, Engr. Bashir Bayo Ojulari, recently visited the Dangote Refinery and Petrochemical Complex in Ibeju-Lekki, Lagos, to strengthen collaboration between the two organizations. The visit included a facility tour and discussions on operational and commercial partnerships.
Ojulari commended Dangote Group President Aliko Dangote for delivering the refinery, describing it as a landmark project that positions Nigeria as a key downstream hub in Africa. He highlighted opportunities for both companies to expand into upstream operations, trading, shipping, and gas supply.
Ojulari also expressed appreciation to President Bola Ahmed Tinubu for oil and gas sector reforms, noting that policy clarity and investor-friendly measures have created an enabling environment for such partnerships.
Dangote stated that Nigerians would benefit from the collaboration with NNPC Ltd, as it is expected to achieve economies of scale and unlock value across markets.
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