The Dangote Petroleum Refinery has dismissed reports claiming it will receive seven crude oil cargoes from the Nigerian National Petroleum Company Limited in May, saying it has not been formally notified of any such increase.
Senior officials at the refinery said discussions with the national oil company are still ongoing and that the facility is expecting about six cargoes next month not seven as widely reported. According to them, the projected supply for May is roughly 6.15 million barrels.
They explained that the 650,000-barrel-per-day refinery requires nearly 20 million barrels of crude each month to operate optimally, equivalent to about 19 cargoes. However, actual monthly deliveries in recent months have fallen far short of this need.
Data shared by refinery sources showed fluctuating crude receipts: about 4.55 million barrels in October, 6.45 million in November, 4.30 million in December, 5.65 million in January, 4.66 million in February, and roughly six million barrels in March. The May expectation, they stressed, remains below seven million barrels.
The refinery has previously raised concerns about limited access to local crude, noting that it often has to rely on imports sourced through international traders at premium prices. This situation, it said, contributes to higher operating costs and has influenced recent increases in petrol pump prices, which have climbed above ₦1,200 per litre.
In earlier statements, the company said it receives only about five cargoes monthly from the national oil firm, despite requiring at least 13 cargoes to meet domestic fuel supply needs. It added that even the crude supplied locally is priced at prevailing international market rates, including additional premiums.
Officials at the NNPC, however, said efforts are underway to improve crude availability for the refinery. They noted that the company is tapping into its global trading network to secure third-party crude supplies for the plant at competitive rates while managing temporary supply constraints.
The NNPC maintained that it remains committed to supporting local refining as part of Nigeria’s broader energy security goals and is continuing to work within existing agreements to ensure steady feedstock supply to the Dangote facility.
Amid rising global oil prices linked to tensions in the Middle East and disruptions around the Strait of Hormuz, energy experts have urged the Federal Government to consider selling crude to the refinery at a fixed price. Economist Bismarck Rewane suggested that such an arrangement could help prevent further increases in fuel prices and ease inflationary pressure.
The Dangote refinery has become a major supplier of petroleum products such as diesel and aviation fuel to both local and international markets at a time when global supply remains tight.
