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March 7, 2025 No Comments

NNPCL imports over 200 million Litres of Petrol in February despite refinery overhaul

A confidential report exclusively obtained by Nairametrics from a reliable source tracking the movements of motor tanker vessels, which monitors cargo tanks entering the country, revealed that the Nigeria National Petroleum Company Limited (NNPCL) has imported 159,000 metric tons of Premium Motor Spirit (also known as petrol) between February 1, 2025, and February 12, 2025.

Based on a standard conversion of 1,341 litre per metric ton, this translates to approximately 213 million litres of petrol, imported by the state-owned oil company according to the Motor Tanker Vessels report.

The revelation comes at a time Dangote Refinery is locked in a legal dispute with NNPCL and major oil marketers over the importation of refined petroleum products, which are already being produced locally without any shortfall.

The report’s breakdown shows that on Monday, February 10, NNPCL received two cargoes carrying 37,000 metric tons of PMS each. That is a total of 99.2 million litres.

On Saturday, February 8, it received a cargo of 20,000 metric tons of PMS, which equals 26.82 million litres.

On Wednesday, February 12, it received another cargo of 37,000 metric tons of PMS, which is approximately 50 million litres.

While the aforementioned cargoes were received in the Lagos ports, NNPCL received a cargo of 20,000 metric tons of PMS at the Calabar port on February 5. 20,000 MTS equals 26.82 million litres.

NNPCL has imported over 40 million metric tons of diesel in February
The data also shows that NNPCL has imported 40,000 metric tons of Automotive Gas Oil (diesel) so far in February. This is over 40 million litres of diesel.

The national oil firm received two shipments+ of AGO on February 3. One supplied 15,000 MT, while the second supplied 25,000 MT.

Other oil and gas retail and logistics companies also received shipments of both PMS and AGO. They include Rainoil, WOSBAB, MENJ, and FRADO, among others.

Nigeria spends N407 billion on petrol imports in 12 days
According to information from a source, despite the January 2025 deadline set by the Economic Community of West African States (ECOWAS) for the adoption of cleaner fuels and vehicles to reduce air pollution across the region, Nigeria has continued to import petroleum products that exceed the permissible sulphur limit under this regulation.

Energy experts and policy analysts have expressed concern that the Nigerian National Petroleum Company Limited (NNPCL) and other marketers spent over N407.4 billion to import 302.7 million litres of petrol (PMS) and 104.8 million litres of diesel during the first 12 days of February.
This follows an ongoing trend of imports, with the country spending more than N5.5 trillion to import a total of 3,203,698.41 metric tonnes of petrol and 980,485 metric tonnes of diesel between October 1, 2024, and January 31, 2025.
In 2020, ECOWAS leaders convened in Ouagadougou, Burkina Faso, to establish a January 2025 deadline for the adoption of cleaner fuels and vehicles in the region to tackle air pollution. Domestic refineries and importers were expected to comply with a sulphur fuel standard of 50 parts per million (ppm) for petrol and diesel for all imported fuels from 1 January 2025. This was seen as a significant step for the region, as some countries still permit the importation of diesel with sulphur levels of up to 10,000 ppm.
An industry expert pointed out that the NNPCL and other importers continue to bring in petroleum products that exceed the permissible limit under the regulation. He added that the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has deliberately remained silent on the issue, despite Nigeria’s leadership within ECOWAS, and continues to allow the importation of substandard products.

“It is an embarrassment to the leadership of ECOWAS that Nigeria has failed to lead by example. Why are we still importing adulterated products, polluting the air, and exposing over 200 million Nigerians to danger when we now have local refineries capable of producing high-quality products?” he queried.

Why should NNPCL be importing?
According to a report from the source, a senior government official stated that the continued importation of refined petroleum products below ECOWAS’s stipulation, despite the restart of the Port Harcourt and Warri refineries, raises questions about the sincerity of NNPCL.

He questioned the company’s expenditure of over N126.5 billion to import more than 136.7 million litres of petrol in a single day, despite Nigeria’s daily petrol consumption being only 30 million litres.
He said, “NNPC claims to have reactivated two of its refineries. However, it continues to import petroleum products into Nigeria. On 10 February, NNPC imported over 100,000 metric tonnes of petrol. Given that Nigeria’s monthly consumption has now decreased to around 800,000 tonnes, it is perplexing why NNPC continues to import such large volumes. More importantly, it is strange that a company with two ‘functional’ refineries would continue to do so.”

The official, who called for an investigation, added that President Bola Tinubu and the Minister of State for Petroleum Resources, Heineken Lokpobiri, need to pay closer attention to the activities of NNPCL, which he suggested contradict the economic policies of the Tinubu-led administration.
“NNPC is owned by Nigerians, and the company must be accountable to them for the optimal use of the resources under its care. They must particularly explain what has been achieved with the substantial funds spent on the refineries,” the official concluded.

What you should know
In December 2024, the NNPCL announced the restart of the 125,000 barrels per day (bpd) Warri Refinery and Petrochemical Company (WRPC), which was approved for rehabilitation in 2021 for $897 million. This announcement followed reports that the Port Harcourt refinery’s 60,000 bpd phase one had begun refining key fuels. Nigeria operates four national refineries: one in Kaduna, one in Warri, and two in Port Harcourt.

The refurbishment of these refineries, in addition to the operations of the Dangote refinery, was expected to reduce Nigeria’s importation of petroleum products and make the country fuel-independent.

However, the importation of refined products continues on a large scale despite the growing number of local refineries.

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March 7, 2025 No Comments

Group alleges plot to disrupt crude oil supply to local refineries across Nigeria

A group known as Concerned Nigerians has alleged that there is a plot to disrupt crude oil supply to local refineries in Nigeria.

The group’s National Coordinator, Obinna Francis, made this known in a statement on Monday, alleging that they had uncovered a “sinister plot to stop the supply of crude oil to domestic refineries.”

The group acknowledged the contribution of local refineries to Nigeria’s economic growth under President Tinubu, stating that this progress requires vigilance against any “cabal” allegedly working with importers to deny local refineries access to crude oil.

Tinubu’s Oil and Gas Reforms Must Be Guarded Jealously
According to Francis, the success of domestic refineries in Nigeria has led to a reduction in fuel prices, which in turn has lowered the cost of food items.

He expressed shock that certain unnamed individuals were allegedly plotting to undo the gains achieved under President Bola Ahmed Tinubu’s economic reforms.
“Such a sinister plot can only be driven by a desire to return Nigeria to the era of petrol importation and even the reintroduction of subsidies.

“This is because cutting off crude oil supply to domestic refineries would create a shortage of refined products, forcing the country to resume fuel imports,” he stated.

He warned that such actions could undermine Nigeria’s collective economic well-being.
The group called on the President and the Department of State Services (DSS) to ensure that no one, knowingly or unknowingly, disrupts crude oil supply to local refineries, so that the economy is not destabilized.
“We salute Mr. President and pass a vote of confidence in him for his impact in driving Nigeria toward energy sustainability, especially in the oil industry. The sector has revived to a point where Nigerians no longer experience harrowing times at petrol stations,” he added.

He stressed that oil and gas reforms must be protected, ensuring that no group or individuals are allowed to undermine the achievements recorded in the sector.
What You Should Know
Nigeria is gradually becoming a petroleum refining hub in West Africa, thanks to the commissioning of the Dangote Refinery and other private and state-owned refineries.

However, private refineries continue to struggle to secure sufficient feedstock for their operations.
Nairametrics reported that the increasing refining capacity of the Dangote Refinery has helped Nigeria reduce its fuel imports.
Nigeria’s gasoline imports have dropped to their lowest level in almost eight years.
In addition to meeting domestic demand, the Dangote Refinery is also exporting refined petroleum products to other countries, including Ghana, Togo, Cameroon, South Africa, Angola, and several European nations.
The Nigerian National Petroleum Company Limited (NNPCL) recently denied reports that it imported over 200 million litres of Premium Motor Spirit (PMS), also known as petrol, in February 2025.

NNPCL’s Chief Corporate Communications Officer, Olufemi Soneye, clarified that while the company has not imported PMS in 2025, it retains the right to do so if necessary.

He emphasized that NNPCL has a responsibility to ensure energy security in the country and would intervene with imports if fuel shortages arise to stabilize the market.

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March 7, 2025 No Comments

Nigeria’s power generation peaks at 5,713.6MW, sets new daily energy record – TCN

The Transmission Company of Nigeria (TCN) has announced that the country’s power sector achieved a new peak generation of 5,713.6 megawatts (MW) on March 2, 2025, successfully transmitted across the national grid.

According to a statement issued by TCN’s management, this new peak surpasses the previous peak generation of 5,543.20MW recorded on February 14, 2025, by 170MW.

However, it remains 88MW lower than Nigeria’s all-time maximum peak generation of 5,801.60MW, achieved on March 1, 2021.

“This was recorded on Tuesday, March 2, 2025 at 21:30 hours, with the new generation peak of 5,713.6 megawatts (MW), surpassing the previous peak generation of 5,543.20MW achieved on February 14, 2025, by 170MW,” the management said in a statement on Tuesday.

Additionally, Nigeria’s electricity industry recorded its highest-ever daily energy transmission, reaching 125,542.06 megawatt-hours (MWh) on March 2, 2025. This surpasses the previous record of 125,159.48MWh, set on February 14, 2025, by 382.58MWh.

“Furthermore, a new record for the new daily energy ever attained in the history of the electricity industry in Nigeria was also set yesterday, with a total of 125,542.06 megawatts-hours (MWh). This surpasses previous record of 125,159.48 (MWh) achieved on February 14, 2025, by 382.58MWh,” in a statement signed by Management.

Implications for Nigeria’s Power Sector
The new milestone signals an improvement in power generation and transmission capabilities, reinforcing efforts to stabilize Nigeria’s electricity supply.

Analysts urge the government and stakeholders to implement policies that address these bottlenecks to ensure that increased generation translates to improved electricity access for homes and businesses.

More insights
Previously, reported last month that TCN announced a new peak generation of 5,543.20 megawatts (MW).

The General Manager of TCN, Ndidi Mbah noted that this new record surpasses the previous peak of 5,478.73MW.
Mbah further explained that the new Maximum Daily Energy of 125,159.48 megawatt-hours (MWH) is the highest ever recorded in the nation’s electricity industry, exceeding the previous record of 121,674.88MWH on February 7, 2025, by 3,484.60MWH.
She confirmed that TCN has successfully transmitted the new peak generation and maximum daily energy to the distribution companies’ load centers nationwide for onward distribution to customers.
On January 8, 2021, the Transmission Company of Nigeria (TCN) announced that it achieved a peak transmission of 5,552.80 MegaWatts (MW) as reported by Nairametrics.

Mbah noted that this achievement reflects growth in Nigeria’s electricity distribution, noting that TCN has a transmission potential of 8,100 MW.

TCN enhanced peak transmission at a frequency of 50.08Hz where Mbah confirms that the peak transmission surpasses the record set on 30 October 2020, which was 5,520.40MW.

Power
March 7, 2025 No Comments

Latest crude oil price drop threatens Nigeria’s revenue and naira stability

Crude oil prices dipped on Tuesday after the U.S. government implemented fresh tariffs, raising concerns about global trade tensions and their potential impact on fuel demand.

Brent Crude fell to $70.5 per barrel, while West Texas Intermediate (WTI) dropped to $67.56. Nigeria’s flagship crude, Qua Iboe, declined by 1.9% to $74 per barrel, while Brass River fell by the same margin to $73 per barrel.

The international benchmark, Brent Crude, was down 1.40%, trading at $73.00, as both major crude benchmarks headed for their first weekly loss in a month and the first monthly decline since November 2024.

The price dip comes as the global oil market reacts to ongoing trade tensions, uncertainty in OPEC+ production policies, and prospects of peace talks to end the war in Ukraine.

Why oil prices are falling
On Thursday, former U.S. President Donald Trump reaffirmed that previously delayed tariffs on Canada and Mexico would take effect on March 4.

The policy imposes a 10% tax on energy imports from Canada while also adding a 25% tariff on Mexican and Canadian exports.
In addition, the U.S. imposed an extra 10% tariff on Chinese goods.
The move has triggered fresh concerns about a global trade war, which analysts say could slow economic growth and weaken demand for crude oil at a time when OPEC+ has yet to decide on production levels for April and beyond.
What this means for Nigeria

The decline in crude prices poses a direct threat to Nigeria’s revenue targets, as the government benchmarked oil at $75 per barrel and production at 2 million barrels per day (mbpd) in its 2025 budget.

Any prolonged drop below this threshold could worsen the fiscal deficit, increase borrowing needs, and exert pressure on government finances.

A drop in oil prices also raises concerns about Nigeria’s foreign exchange market, which relies heavily on crude sales for dollar liquidity.

The naira strengthened in the parallel market in February, appreciating from N1,600/$1 to N1,500/$1. However, with oil prices weakening, the naira depreciated slightly to N1,515/$1 on Tuesday.

Despite the recent volatility, the Central Bank of Nigeria (CBN) remains bullish, citing an improvement in crude oil production, which rose to 1.54 mbpd as of January 2025.

The apex bank believes this will help improve Nigeria’s current account position and boost external reserves.

However, the sustained decline in crude prices could threaten this outlook.

Nigeria’s economic stability remains tightly linked to crude oil performance, and the latest price drop highlights the vulnerability of the country’s revenue and exchange rate targets.

As global trade tensions mount and OPEC+ deliberates on output strategies, Nigeria faces the challenge of navigating an increasingly unpredictable oil market.

The government may need to explore alternative fiscal strategies to cushion the impact of revenue shortfalls and mitigate potential currency pressures in the months ahead.

Power
March 7, 2025 No Comments

Petrol price will rise above N1,000 if NNPCL, Dangote end price war – Expert

Chief Economist at the SBM Professionals, Dr. Paul Alaje has argued that Nigerians would pay over N1,000 if the ongoing price war between the Dangote Refinery and the Nigeria National Petroleum Company Limited (NNPCL) ends.

Alaje, while speaking on Channels TV, on Tuesday, expressed support for the competition between both companies, noting that if one loses, Nigerians will pay above N1,000 as pump price for petrol.

Nairametrics reported that a price war between Dangote and the NNPCL has resulted in multiple slashes of PMS prices between the two. The Dangote Refinery has been the one initiating the price cuts while NNPCL often follows.

Petrol currently sells in NNPCL retail outlets and Dangote partner outlets for N860 to N900 based on locations, with Lagos having the lowest price.

Alaje said the price war is in the interest of Nigerians, noting that both companies are reducing what he termed “abnormal profits”.

He said: “Very recently, Dangote announced another one, at around 800, less than 850, and you have seen NNPCL responding to it. Yes, you may want to call it a price war, but you see, in economics, when a duopoly fights, it’s the best for the populace, because they will themselves, drive themselves to neutral profit.

“Now, people may ask, what is neutral profit? Neutral profit is that point where all factors of production have been catered for, which includes land, rent on land, labor, wages and salary of labor, profit, the real profit, entrepreneurs, and finally, interest on capital.

“What has therefore been eroded is the abnormal profit.”

Nigerians should be paying below the current pump prices
Meanwhile, Alaje argued that the current pump prices are still high. He said that based on current global trends, the pump price of petrol in Nigeria should be less than what it is.

“Ask me, have we gotten to that point where abnormal profit has been eroded? I will tell you, the answer is no. As of today, our computational review, that PMS should be around 795 to 830.”

NNPCL must stop importing and refine locally
The Economist called on the NNPCL to complete the refurbishment of its refineries and refine locally. He said that would further reduce the price.

He said with the competition still on and with both companies fully producing locally, the price of petrol can go down even below N700.

“This is economics at play. The question is, are we ready for it? I know a number of persons have called, some have even sent emails to explain this to them, could it be similar to what we saw in sugar when the sugar war happened? Could it be what we saw happen in cement, when cement happened? The difference here is that while Dangote claims that 100% of its PMS is produced locally, NNPCL, we still have traces that, perhaps, they cannot, the refinery as of today, could not refine locally.

“My advice is directly to NNPC, if you must compete, you must also produce locally. Why? You will give jobs, the way Dangote is giving it to Nigeria, which is my primary concern, to price before that goes down. We will suddenly realize that without subsidy, we can take a price even lower than 700, your businesses, to effect challenges. Even the gains that government is fighting for, it’s been exposed to the same.”

What you should know
Dangote Refinery stated that it will make a N65/liter refund to marketers who purchased PMS at rates higher than N825 so Nigerians will benefit from cheaper fuel.
The refinery noted that the price reduction is to ease the economic burden of Nigerians, and also a demonstration of support for President Bola Tinubu’s economic reforms.

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February 2, 2025 No Comments

Nigerians to be hit by another electricity tariff hike after jumbo band A increase

Nigeria’s power prices need to rise by about two thirds for many customers to reflect the cost of supplying it and an increase can be expected within months, President Bola Tinubu’s special adviser on energy said.

Higher electricity tariffs, which need to be balanced by subsidies for less-affluent consumers, are required to fund the maintenance needed to improve reliability and to attract private investors into power generation and transmission, said the adviser, Olu Verheijen.

“One of the key challenges we’re looking to resolve over the next few months is transitioning to a cost-efficient but cost-reflective tariff,” Verheijen said in an interview in Dar es Salaam, Tanzania, this week. This is needed “so the sector generates revenue required to attract private capital, while also protecting the poor and vulnerable,” she said.

Tinubu has already taken a number of steps to ease the burden on state finances and encourage private investment since taking office in May 2023, including removing subsidies on motor fuel. Power prices were already tripled for some customers last year.

While Nigeria, a nation of about 237 million people, has an electricity access rate of around 62%, an erratic grid supply limits productivity and disrupts daily life.
The move to raise tariffs comes amid mounting pressure from Nigeria’s debt-burdened electricity distribution companies for tariffs to be cost-reflective so they can improve their finances.

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The country privatized generation and distribution in 2013, yet prices set by the government’s Nigeria Electricity Regulatory Commission don’t cover the suppliers’ costs. Government subsidies cover some of the difference, but profitability is hard to achieve.

Verheijen was in Tanzania attending a World Bank-backed conference where Nigeria presented a $32 billion plan to boost electricity connections by 2030. Private investors are expected to contribute $15.5 billion and the rest will come from public sources, including the World Bank and African Development Bank.

Nigeria’s power industry needs significant investment to achieve its development aims, Verheijen said. Of the country’s 14 gigawatts of installed power, only 8 gigawatts can be transmitted around the country and just four or five gigawatts can be directly delived to homes and businesses, she said.

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January 30, 2025 No Comments

Ajaokuta LNG plants will position Kogi as a key player in Nigeria’s energy sector – Ododo

Ahmed Usman Ododo, Kogi State governor, has said that the establishment of five Mini Liquefied Natural Gas (LNG) plants in Ajaokuta by the Federal Government through the Nigerian National Petroleum Company (NNPC) Limited and its private sector partners would strategically position Kogi as an energy hub in Nigeria.

Ododo expressed the optimism during the groundbreaking ceremony of the LNG plants in Ajaokuta where he emphasised that the project would play a pivotal role in enhancing Nigeria’s energy landscape, fostering economic growth, improving energy access, and reinforcing Kogi State’s significance in the country’s industrial development.

The governor equally described the LNG plants as a transformative investment that would not only position Kogi as an energy hub but also stimulate economic activities in the state.

He said: “We are witnessing a historic moment that will redefine Kogi’s place in Nigeria’s energy sector.

“This project is not just about gas production; it is about economic transformation, job creation, and ensuring that our state plays a central role in Nigeria’s energy future.”

He underscored the economic impact of the initiative, highlighting its potential for job creation, increased investment, and industrial growth, stressing that his administration’s commitment to developing a skilled workforce will find through expression in opportunities being created by new investment in the emerging energy sector , as he commends President Bola Tinubu for his dedication to Nigeria’s energy transition and for mobilizing NNPC Limited and its private sector partners including Prime LNG, NGML/GASNEXUS LNG, LNG Arete, Highland LNG, and BUA LNG to establish the LNG plants in Ajaokuta.

Read also: NNPCL unveils five LNG mini-plants to boost gas supply in Nigeria

He expressed the optimism that the LNG plants would become a crucial part of Kogi’s energy infrastructure, significantly reducing carbon emissions while advancing sustainable energy solutions in Kogi state and Nigeria.

He said: “With an initial combined production capacity of over 80 million cubic feet per day, these plants will serve as a key resource for both national and international energy markets.”

Ododo equally assured that his government remains committed to providing an enabling environment, sustaining peace and security, and attracting more investments to the state.

Earlier, Mele Kyari, Group chief executive officer of NNPC Limited, emphasised that the LNG plants were part of the Federal Government’s strategy to revolutionise the gas sector, positioning it as a key driver of economic prosperity, noting that the initiative was not just a symbolic event but a concrete step towards energy transformation, stressing that all necessary equipment are ready for immediate deployment with assurance that the project would be completed on schedule in partnership with relevant stakeholders.

Kyari equally commended Governor Ododo for mobilising support from host communities, recognising them as the first beneficiaries of the initiative.

The project, spearheaded by the Nigerian National Petroleum Company (NNPC) Limited in collaboration with private sector partners, aims to enhance domestic gas supply, drive industrialisation, and create employment opportunities.

The Minister of State for Petroleum Resources (Gas), Ekperikpo Ekpo credited President Tinubu’s executive order for fast-tracking the development of the LNG plants.

He emphasized that the project was a direct response to the federal government’s push to maximise Nigeria’s gas potential and support industrialisation efforts.

Shuaibu Abubakar Audu, minister for Steel Development, noted that the LNG initiative aligns with Tinubu’s Renewed Hope Agenda, which aims to create a $1 trillion economy by 2030.

Industry Power
January 28, 2025 No Comments

Dangote refinery reduces petrol ex-depot price to N890

Dangote Petroleum Refinery has reduced the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, from N950 to N890, effective from Saturday.

This price adjustment is in response to favourable developments in the global energy sector and a significant decline in international crude oil prices.

A statement from Dangote Petroleum Refinery, issued by the Group Chief Branding and Communications Officer, Anthony Chiejina, explained that this latest move follows a similar decision made on 19th January, when a modest price increase was implemented due to rising crude oil costs.

However, with recent global market trends indicating a decline, Dangote Refinery has once again adjusted its pricing structure, providing relief to Nigerians.

The statement also noted that the price reduction would significantly lower the cost of petrol across the country, generating a positive ripple effect throughout the broader economy.

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“Dangote Petroleum Refinery firmly believes that this reduction from N950 to N890 will result in a meaningful decrease in the cost of petrol nationwide, thereby driving down the prices of goods and services, as well as the overall cost of living, with a positive ripple effect on various sectors of the economy,” the statement said.

The refinery has also called on marketers across the country to ensure that the benefits of the reduced price are passed on to the Nigerian public, while reiterating its support for the economic revival spearheaded by President Bola Tinubu, whose administration is focused on making Nigeria self-sufficient in refined petroleum products and positioning the country as a leading oil export hub.

“This collective initiative will contribute to the wider economic recovery plan led by His Excellency, President Bola Ahmed Tinubu, who is dedicated to making Nigeria self-sufficient in refined petroleum products and positioning the country as a leading oil export hub,” it added.

Dangote Petroleum Refinery’s decision is expected to play a vital role in stabilising the country’s economy, ensuring that the benefits of lower fuel prices are felt across all sectors.

Power
July 29, 2024 No Comments

Libya denies talks of crude oil supply to refineries in Nigeria

The National Oil Company of Libya, also known as NOC, has denied holding negotiations to supply crude oil to any local refinery in Nigeria.

In a statement on its official Twitter (now X) account, NOC said on Sunday that the firm is not in any agreement to export to crude oil to Nigeria.

A senior executive with Nigeria’s Dangote refinery stated last week that it was in discussions with Libya to secure crude for the 650,000 barrels per day plant.

However, NOC said such conversation is not ongoing with any refinery in Nigeria.

“The National Oil Corporation denies that it is negotiating or engaging in any talks regarding the supply of crude oil to an oil refinery in Nigeria.

“The National Oil Corporation also confirms that it is committed to its contracts with its international partners and is committed to the legal mechanism for selling Libyan oil raw materials and that it does not operate with an immediate sales mechanism. In addition, the process of determining raw material prices is carried out through a committee of experts and is approved by the Corporation and the Ministry of Oil and Gas,” NOC said.

Devakumar Edwin, the Vice President of Dangote Industry Limited (DIL), revealed this information in an interview with Reuters.

Edwin said the strategic move is aimed at ensuring a steady supply of crude to meet the refinery’s growing demand.

In addition to Libya, the refinery is also exploring crude supply options from Angola. This diversification strategy is crucial given the Nigerian National Petroleum Corporation (NNPC) Limited’s inability to consistently meet the refinery’s 650,000bpd requirement.

“We are talking to Libya about importing crude.

“We will talk to Angola as well and some other countries in Africa,” Edwin said.

What you should know
Since beginning operations in January, Dangote refinery has faced difficulties securing adequate crude supplies in Nigeria.

Despite being Africa’s largest oil producer, the country struggles with theft, pipeline vandalism, and low investment.

As a result, Dangote has resorted to importing crude from as far as Brazil and the United States.

The Dangote Refinery, located in the Lekki Free Zone near Lagos, Nigeria, is one of the largest oil refineries in the world. Initiated by the Dangote Group, it aims to meet Nigeria’s domestic demand for refined petroleum products, reducing the country’s dependence on imported fuel.

The refinery’s projected capacity is 650,000 barrels per day, which is expected to transform Nigeria from an importer to a net exporter of refined petroleum products.

Power
July 29, 2024 No Comments

NNPC CEO, Mele Kyari Challenges Aliko Dangote To Name Government Workers Behind Fuel Plant In Malta

in a statement he issued via his social media platforms, Kyari maintained that he does not own a blending plant in Malta nor did he know any of his colleagues doing so.

Mele Kyari, the group chief executive officer (GCEO) of the Nigeria National Petroleum Company (NNPC) Limited, has challenged billionaire businessman, Aliko Dangote, to reveal the identities of NNPC workers accused of establishing a blending plant in Malta.

In a statement he issued via his social media platforms, Kyari maintained that he does not own a blending plant in Malta nor did he know any of his colleagues doing so.

Dangote had said the NNPC cabals created a petroleum refinery in Malta from where they import inferior fuel into Nigeria.

Kyari, in his response, said, “I am inundated by enquiries from family members, friends and associates on the public declaration by the President of Dangote Group that some NNPC workers have established a blending plant in Malta thereby impeding procurements from local production of Petroleum products.

“To clarify the allegations regarding blending plant, I do not own or operate any business directly or by proxy anywhere in the world with the exception of a local mini Agric venture. Neither am I aware of any employee of the NNPC, that owns or operates a blending plant in Malta or anywhere else in the world.

“A blending plant in Malta or any part of the world has no influence over NNPC’s business operations and strategic actions.

“For further assurance, our compliance sanction grid shall apply to any NNPC employee who is established to be involved in doing so if availed and I strongly recommend that such individuals be declared public and be made known to relevant government security agencies for necessary actions in view of the grave implications for national energy security.”

Senator Heineken Lokpobiri, the Minister of State for Petroleum Resources, chaired a high-level meeting on Monday over the challenges facing the Dangote Refinery, Lagos, which the government believes, is a critical project in the oil sector.

A statement had said the meeting was attended by Mr. Aliko Dangote, Chairman and CEO of Dangote Group; Mr. Farouk Ahmed, Authority Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).

Other are “Mr. Gbenga Komolafe, Chief Executive Officer of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and Mr. Mele Kyari, Group Chief Executive Officer of the Nigerian National Petroleum Corporation Limited (NNPCL).”

According to the statement, the stakeholders expressed their gratitude to the Honourable Minister for his exemplary leadership and timely intervention in facilitating this crucial dialogue.

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