NNPCL Boosts Crude Supply to Dangote Refinery Amid Global Price Surge
The Nigerian National Petroleum Company Limited (NNPCL) has increased its crude oil allocation to the Dangote Petroleum Refinery to seven cargoes for May, up from the five cargoes supplied in previous months.
The move comes against the backdrop of rising global fuel prices triggered by supply disruptions linked to tensions involving Iran, which have tightened crude availability in the Middle East and intensified competition among global buyers.
Industry observers say the increased allocation is aimed at strengthening domestic refining capacity and cushioning the impact of high international fuel prices on Nigeria’s local market.
The Dangote Refinery, with a processing capacity of 650,000 barrels per day, is Africa’s largest and is expected to play a critical role in reducing the country’s dependence on imported petroleum products.
A senior official at the refinery, speaking to Reuters, confirmed the development, stating that while the additional cargoes will not fully meet the plant’s crude requirements, they will provide some relief in sustaining production levels.
The adjustment underscores ongoing efforts by NNPCL to prioritize local refining as part of broader measures to stabilize fuel supply and prices within the country.
