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Dangote Accuses Oil Firms Of Selling Crude $2-$4/b Above Official Price

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The management of Dangote Industries Limited (DIL) has accused the trading arms of oil firms in Nigeria of selling crude oil cargoes at $2-$4 per barrel above the official market rate, making it difficult for the refinery to purchase local crude.

This is as the company has commended the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) for its various interventions in the oil company’s crude supply requests from International Oil Companies (IOCs), and for publishing the Domestic Crude Supply Obligation (DCSO) guidelines to enshrine transparency in the oil industry.

Vice president, of Oil & Gas, Dangote Industries Limited,  Devakumar Edwin however said: “If the Domestic Crude Supply Obligation (DCSO) guidelines are diligently implemented, this will ensure that we deal directly with the companies producing the crude oil in Nigeria as stipulated by the PIA.”

Edwin insisted that IOCs operating in Nigeria have consistently frustrated the company’s requests for locally produced crude as feedstock for its refining process.

He highlighted that when cargoes are offered to the oil company by the trading arms, it is sometimes at a $2-$4 (per barrel) premium above the official price set by NUPRC. “As an example, we paid $96.23 per barrel for a cargo of Bonga crude grade in April (excluding transport). The price consisted of $90.15 dated Brent price + $5.08 NNPC premium (NSP) + $1 trader premium. In the same month, we were able to buy WTI at a dated Brent price of $90.15 + $0.93 trader premium including transport. When NNPC subsequently lowered its premium based on market feedback that it was too high, some traders then started asking us for a premium of up to $4m over and above the NSP for a cargo of Bonny Light”

“Data on platforms like Platts and Argus shows that the price offered to us is way higher than the market prices tracked by these platforms. We recently had to escalate this to NUPRC”, Edwin said and urged the regulatory commission to take a second look at the issue of pricing.

 Edwin’s response came against the background of a statement by the Chief Executive Officer of NUPRC, Engr. Gbenga Komolafe, in an interview on ARISE News TV said that “it is ‘erroneous’ for one to say that the International Oil Companies (IOCs) are refusing to make crude oil available to domestic refiners, as the Petroleum Industry Act (PIA) has a stipulation that calls for a willing buyer-willing seller relationship.”

Edwin noted that “The NUPRC has been very supportive to the Dangote Refinery as they have intervened several times to help us secure crude supply. However, the NUPRC Chief Executive was probably misquoted by some people hence his statement that IOCs did not refuse to sell to us. To set the records straight, we would like to recap the facts below.

“Aside from Nigerian National Petroleum Corporation Limited (NNPC), to date, we have only purchased crude directly from one other local producer (Sapetro).

All other producers refer us to their international trading arms.

“These international trading arms are non-value adding middlemen who sit abroad and earn margin from crude being produced and consumed in Nigeria. They are not bound by Nigerian laws and do not pay tax in Nigeria on the unjustifiable margin they earn.

“The trading arm of one of the IOCs refused to sell to us directly and asked us to find a middleman who would buy from them and then sell to us at a margin. We dialogued with them for 9 months and in the end, we had to escalate to NUPRC who helped resolve the situation,” Edwin stated.

According to him, “When we entered the market to purchase our crude requirement for August, the international trading arms told us that they had entered their Nigerian cargoes into a Pertamina (the Indonesia National Oil Company) tender, and we had to wait for the tender to conclude to see what is still available.

“This is not the first time. In many cases, particular crude grades we wish to buy are sold to Indian or other Asian refiners even before the cargoes are formally allocated in the curtailment meeting chaired by NUPRC.

“However, we would like to urge NUPRC to take a second look at the issue of pricing. NUPRC has severally asserted that transactions should be on a willing seller / willing buyer basis. The challenge however is that market liquidity (many sellers / many buyers in the market at the same time) is a precondition for this. Where a refinery needs a particular crude grade loading at a particular time then there is typically only one participant on either side of the market.

“It is to avoid the problem of price gouging in an illiquid market that the domestic gas supply obligation specifies volume obligation per producer and a formula for transparently determining pricing. The fact that the domestic crude supply obligation as defined in the PIA has gaps is no reason for wisdom not to prevail”, Edwin stated.

 

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Alia, Akume, Suswam Meet as Benue APC Moves to Rebuild Unity

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By Samson Adeyanju

Governor Hyacinth Alia has commended stakeholders of the All Progressives Congress in Benue State for their commitment to reconciliation and party unity following a high level meeting held at the New Banquet Hall of Government House, Makurdi.

In a statement issued on Monday by his Chief Press Secretary, Sir Tersoo Kula, the governor expressed appreciation to party leaders and stakeholders who attended the reconciliation meeting convened to strengthen cohesion within the party.

Among those present at the meeting were the Secretary to the Government of the Federation, George Akume, former Benue State Governor, Gabriel Suswam, former Deputy Governor Chief Stephen Lawani, past and serving members of the National Assembly, members of the Benue State House of Assembly, federal government appointees, and other party stakeholders.

Governor Alia said the large turnout of influential party figures reflected a shared resolve to promote unity, stability, and progress within the APC in Benue State.

He particularly praised the peaceful atmosphere of the meeting and the spirit of reconciliation displayed by participants, describing the outcome as a significant step toward rebuilding trust, confidence, and togetherness among party members.

According to the governor, the resolutions reached at the meeting would usher in a new phase of peace, harmony, and cooperation within the party.

He urged stakeholders and their supporters to sustain the reconciliation process through dialogue, mutual respect, and collective responsibility in advancing the interests of the APC and the development of Benue State.

Governor Alia also wished all stakeholders success in their political aspirations and called for continued collaboration in the pursuit of peace, development, and good governance in the state.

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Abuja Reports

Ekiti Attack, an Assault on Church, Human Dignity -CAN

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By Samson Adeyanju 

The Christian Association of Nigeria (CAN), has described the recent attack on a church gathering in Eda Oniyo, Ekiti State, where a pastor was killed and several worshippers abducted, as an assault on the Church, human dignity, and the sanctity of life.

In a statement issued on Tuesday and signed by the President of CAN, His Eminence, Archbishop Daniel Okoh, CAN expressed deep shock over the incident, noting that the victims were attacked while peacefully gathered for an open-air crusade.

The association strongly condemned the violence, stressing that it was not only an attack on a place of worship but also a “brutal assault on shared humanity.”

CAN mourned with the family of the slain pastor and expressed solidarity with the victims and the Christian community in Ekiti State. It also called for the immediate and safe release of those abducted, urging security agencies to act without delay.

The association further noted that the Ekiti incident reflects a disturbing pattern of insecurity, referencing similar attacks in parts of Kogi State where residents, including clergy and their families, were abducted. It warned that the repeated incidents point to a deepening security crisis in the country.

CAN stressed that the protection of lives and property remains the primary responsibility of government, calling for swift, decisive, and transparent action to apprehend the perpetrators and rescue the abducted victims unharmed.

It also urged authorities to strengthen security presence in vulnerable communities and improve intelligence gathering to prevent further attacks.

The body condemned what it described as the growing normalization of violence against worshippers, warning that such acts reflect a dangerous disregard for life, faith, and national values.

It called on Nigerians and relevant authorities to speak out firmly against insecurity and ensure that places of worship are not turned into targets for criminal attacks.

CAN concluded by praying for comfort for the bereaved families, the safe return of the abducted worshippers, and lasting peace and security in the country.

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CTV Clocks 15 Years, Targets National Media Space

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By Samson Adeyanju

Catholic Television of Nigeria (CTV), has set its sights on becoming a major player in Nigeria’s mainstream media space as it prepares to mark its 15th anniversary and one year of broadcast on GOtv Channel 115.

At a press briefing in Abuja on Monday, the Chairperson of the National Planning Committee, Barr. Dr. Princess Frank-Chukwuani, projected a bold future for the faith-based station, expressing confidence that CTV would soon be visible at key national platforms, including the State House and National Assembly.

“I see CTV in the near future covering national issues and interviewing top government officials. The station will be everywhere,” she said.
The station, founded in 2010 by Emeritus Archbishop of Abuja, John Cardinal Onaiyekan, has grown into a prominent Catholic broadcasting station, promoting faith, family values and national development.

The Director of Communications, Catholic Archdiocese of Abuja and Executive Director, CTV, Very Rev. Fr. Patrick Alumuku, who was represented by the National Planning Committee Chairperson said CTV’s migration to GOtv Channel 115 on March 13, 2025, has significantly boosted its reach, with viewership rising by over 300 per cent to about eight million viewers across Africa.

He noted that beyond religious programming, CTV engages in balanced reporting, interfaith dialogue and civic coverage aimed at fostering unity.

On his part, the Deputy Director (Admin), Rev. Fr. Victor Ogunyemi, said the station’s content addresses pressing societal concerns such as insecurity, moral decline and family instability.

Speaking at the briefing, the Assistant Director of Communications, Catholic Archdiocese of Abuja, Rev. Fr. Kenneth Agwu, described the milestone as a testament to resilience, citing the high cost of electronic media and the sacrifices of staff and supporters in sustaining operations.

Also speaking, Chairman of the Publicity Sub-Committee, Mr. Henry Adaba, said CTV’s programmes help reshape mindsets, promote unity and counter religious intolerance.

The station’s 15th anniversary and award ceremony is scheduled for April 30, 2026, at Holy Trinity Catholic Church Event Centre, Maitama, Abuja, beginning with a Holy Mass at 6:00 p.m.

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