Operators in Nigeria’s downstream oil sector have projected potential price relief as the Dangote Petroleum Refinery confirmed that crude oil deliveries from the Nigerian National Petroleum Company Limited doubled in March, boosting prospects for improved fuel availability.
The operators, however, noted that the price relief would be guaranteed if the government reduced the price of crude supplied to the Dangote refinery, and they commended the increase in oil volumes supplied to the $20bn Lekki-based plant by NNPC last month.
Nigeria’s push to stabilise domestic fuel supply received a boost as the Dangote Petroleum Refinery disclosed that crude oil deliveries from NNPC doubled in March, amid global supply disruptions triggered by tensions in the Middle East.
Africa’s richest man and President of the Dangote Group, Aliko Dangote, revealed in a report by Bloomberg on Tuesday that the refinery received 10 cargoes of crude oil from the state-owned oil firm in March, compared to an average of about five cargoes monthly since late 2024.
Dangote said the shipments included six cargoes paid for in naira and four in dollars, under the crude supply arrangement between the refinery and the NNPC.
“Nigeria doubled crude supply to Dangote Refinery in March as Africa’s top oil producer moved to shore up fuel availability after the Iran war disrupted Middle East shipments. Last month, they gave us six cargoes with payments in naira and four cargoes with payments in dollars,” he stated.
The development comes as Nigeria moves to shore up local fuel production following disruptions in global oil supply chains caused by the recent US-Israel attack on Iran, which has affected crude flows from the Middle East.
