Dangote Refinery also said the crude received from NNPCL is “peanuts” compared to the volume of what’s needed to ramp up production
By Kehinde Okeowo
In what appears to be a justification of its decision to resume purchase of crude oil from the United States, Dangote Refinery has alleged that what the Nigerian government is supplying to its domestic refinery falls short of what was agreed under the Naira-for-crude deal.
This was disclosed by the Vice President of Dangote Industries Limited, Devakumar Edwin, during a recent interview with Reuters.
According to him, the amount of crude received from the Nigerian National Petroleum Company Limited (NNPCL) is “peanuts” compared to the volume needed to ramp the production of refined products.
Edwin further stressed that the NNPCL hasn’t met the target to deliver a minimum of 385,000 bpd since the commencement of the programme in October.
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“We need 650,000 barrels per day. NNPCL agreed to give a minimum of 385,000 bpd, but they are not even delivering that,” he said.
The President Bola Tinubu-led administration and the Dangote Refinery struck a ‘Naira-for-crude deal’ in the latter part of 2024.
Thereafter, the government announced that it had started to implement the initiative in October.
However, a report emerged this week that Dangote Refinery has resumed crude supply from the United States to ramp up production in the $20 billion-worth firm.
