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The Nigerian National Petroleum Company Limited (NNPCL) has reaffirmed its commitment to supplying crude oil to the Dangote Refinery based strictly on commercial and market-driven terms. Group Chief Executive Officer, Bayo Ojulari, stated, “First of all, Dangote Refinery is a commercial investment, so the refinery has the flexibility to import crude for its survival.”

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Ojulari emphasized that the government is committed to improving local crude supply to the refinery, but the process must remain market-driven. “If you look at it commercially, we have to do more to ensure that there is a balance in terms of the crude coming from domestic; we are working on that, and we think that will improve,” he said.

The NNPCL CEO added that the company wants to move away from government domination in private sector businesses and allow the private sector to have freedom. “If Nigeria is to provide crude oil supply to Dangote Refinery, it will be on a commercially willing buyer and willing seller basis,” Ojulari said.

This development comes as the Nigerian government pushes to liberalize the oil and gas industry and reduce direct state control in private sector operations. Dangote Refinery, with a refining capacity of 650,000 barrels per day, is expected to meet Nigeria’s domestic fuel needs and significantly reduce reliance on petroleum imports.

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Devakumar Edwin, President of Dangote Industries, said the refinery aims to achieve 100% domestic crude supply by December 2025. The push for local supply aligns with a directive issued by President Bola Ahmed Tinubu in July 2024 for crude oil sales to the refinery to be transacted in local currency (naira).

The evolving partnership between NNPCL and Dangote Refinery is seen as central to Africa’s push for energy independence, industrialization, and intra and inter-continental trade.

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