Officials at the Dangote Petroleum Refinery have denied claims that the facility will receive seven crude oil cargoes in May from the Nigerian National Petroleum Company Limited (NNPC).
Refinery representatives explained that while discussions with NNPC are ongoing, they have not confirmed an increase in the monthly allocation from the usual five cargoes. Current estimates indicate the refinery is set to receive about six cargoes, totaling approximately 6.15 million barrels, rather than the reported seven.
The refinery, which processes 650,000 barrels per day, requires more than 19 cargoes monthly but has consistently received fewer. Each cargo contains roughly one million barrels. Officials detailed previous monthly allocations, including 4.55 million barrels in October and 6.45 million in November, highlighting ongoing shortfalls.
The refinery has previously raised petrol prices above N1,200 per litre, citing disruptions in local crude supply due to the Iran-US conflict and limited deliveries from domestic producers. While the facility typically receives five cargoes monthly from NNPC, it needs 13 cargoes to sustain operations. The shortfall forces the refinery to source crude internationally at additional premiums.
NNPC, meanwhile, is working to increase crude supply to support the refinery, leveraging global trading networks to secure competitive international crude. The company reiterated its commitment to strengthening domestic refining capacity and ensuring energy security despite temporary supply constraints.
Economists have suggested that the Federal Government consider selling crude to the refinery at a fixed price to help stabilize fuel costs and limit inflation. With global oil prices rising due to conflicts in the Middle East, the Dangote refinery remains a key supplier of petroleum products, particularly aviation fuel and diesel, to both domestic and international markets.
