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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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CNND, RNMW to Conduct Due Diligence Ahead of 2027 Elections -Amb Erebuoye

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By Emmanuel Eko

The Concerned Nigerian Network in Diaspora (CNND), and the Rebuild Nigeria Movement Worldwide (RNMW), have announced plans to carry out thorough consultations and assessments before endorsing any political party or candidate for the 2027 general elections.

Speaking on behalf of both organizations, former president and founder, Ambassador James Erebuoye, emphasized the need for caution and strategic decision-making following the experiences of the 2023 elections.

According to Erebuoye, several errors made by platform administrators and coordinators during the last electoral cycle nearly fractured the network, which he noted took over two decades to build across Nigeria and the diaspora.

“We will undertake proper diligence before deciding which political party or candidate to support in 2027, and we will also guide our eligible voters accordingly,” he stated.

He called on coordinators within both organizations to prioritize unity, peace, and discipline among members, warning against the dangers of religious intolerance and tribal divisions.

“This is about our one and only country, Nigeria. We must not allow religious bigotry or tribalism to derail our collective mission,” Erebuoye said.

Looking ahead to the 2027 elections, he described the process as a critical national assignment, urging members at home and abroad to remain committed and organized.

“Our goal is to mobilize not less than 20 million votes for the right presidential candidate we collectively decide to support,” he added.

Erebuoye also stressed the importance of defending Nigeria’s democracy, describing it as a serious responsibility that requires the active involvement of all members. He further called for intensified efforts to combat corruption, which he said has hindered the nation’s development for decades.

Addressing national security concerns, the CNND and RNMW founder urged the Federal Government to take stronger and more decisive action against terrorism and banditry.

“No amount of condolences can bring back those who have lost their lives. The priority of government now must be to secure citizens and put an end to these attacks,” he said.

He outlined a three-point priority for the government: tackling insecurity, eliminating entrenched corruption networks, and then focusing on economic recovery.

Erebuoye noted that improving security would naturally enhance economic growth, attract investment, and boost tourism.

“No foreign investor or tourist will be attracted to a country plagued by insecurity. Fixing the economy will be much easier once the security challenges are addressed,” he concluded.

The statement reflects growing political mobilization among diaspora networks as Nigeria prepares for the 2027 general elections.

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Alia Seeks Stronger UN Partnership, Says Humanitarian Response Central to Benue Agenda

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By Samson Adeyanju

Governor of Benue State, Hyacinth Alia, has called for deeper strategic collaboration with the United Nations to tackle the state’s humanitarian, agricultural and climate challenges, stressing that his administration remains committed to building long-term resilience.

Speaking Friday at Government House, Makurdi, during the visit of the UN Deputy Secretary-General, Amina Mohammed, the governor said Benue’s development trajectory depends on global partnerships that integrate food security, climate resilience and human dignity.

Alia emphasised that the state is not seeking charity but sustainable collaboration capable of delivering lasting transformation.

“What we seek is not charity, but collaboration. Not isolated projects, but integrated systems. Not temporary relief, but lasting transformation,” he said.

Describing Benue as Nigeria’s “Food Basket of the Nation,” the governor noted that despite its strategic role in national and regional food systems, the state continues to grapple with farmer-herder conflicts, climate-related vulnerabilities and a humanitarian crisis involving over 500,000 internally displaced persons.

He explained that since assuming office in 2023, his administration has pursued an integrated development agenda aimed at rebuilding institutions, restoring dignity and unlocking economic opportunities.

“We are not waiting for change, but building structures that enable change,” Alia added.

Highlighting key achievements, the governor disclosed that over 375 public schools have been rehabilitated, with 9,700 teachers recruited at the basic education level, alongside the introduction of free education policies and establishment of new technical institutions.

In the health sector, he cited the rehabilitation of 104 rural health centres, revitalisation of the Benue State University Teaching Hospital and expansion of maternal and child healthcare services.

On infrastructure, Alia said ongoing road and transport projects are connecting rural and urban economies, while more than 10,000 youths have been trained in digital skills through ICT empowerment programmes.

He reiterated that humanitarian response remains a core priority, particularly in conflict-affected communities, noting that interventions such as shelter provision, farmland allocation and livelihood restoration are designed to transition displaced persons to stable living conditions.

“These are not just interventions; they are pathways from displacement to dignity,” he said.

The governor also sought UN collaboration in key areas including climate resilience and restoration of River Benue, agro-industrial mechanisation, human capital development, community stabilisation and the establishment of a Benue SDG Transition and Resilience Financing Facility.

Reaffirming his administration’s vision, Alia said the state is ready to serve as a model of sub-national transformation.

“Benue is ready to lead, to partner and to deliver results that matter, not just for the Benue people, but as a model for Nigeria and the global community,” he stated.

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Abuja Reports

CAN Condemns Jos Killings, Demands Action

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By Samson Adeyanju

The Christian Association of Nigeria has strongly condemned the killing of innocent Nigerians during a Palm Sunday attack in Jos, Plateau State, describing the incident as unacceptable and a grim reminder of the country’s worsening security situation.

In a press statement signed by its President, Archbishop Daniel Okoh, the association decried the March 29 attack in Angwan Rukuba, Gari Ya Waye area of Jos North, where armed men reportedly stormed a civilian community and opened fire on defenceless residents.

CAN lamented that what should have been a sacred day of peace and reflection turned into a moment of bloodshed, as men, women and children were killed in cold blood, leaving families shattered and the community traumatised.

The apex Christian body expressed deep concern over reports that the attackers wore uniforms resembling those of Nigerian security forces, warning that such tactics could erode public trust in the military and other security institutions.

“This development is particularly alarming and must be thoroughly investigated,” the statement noted, stressing that security agencies must not only respond to attacks but also take proactive steps to prevent them.

While acknowledging efforts by the Plateau State Government, CAN insisted that temporary responses are no longer sufficient, calling for sustained and effective strategies to guarantee the safety of lives and property.

The association further noted that Nigerians are weary of recurring violence and routine condemnations, urging authorities to ensure that those responsible for the killings are swiftly apprehended and brought to justice.

CAN also advised Christians across the country to remain prayerful but vigilant during the Holy Week, especially as they participate in religious activities such as Good Friday observances and Easter vigils.

The statement emphasised that while faith remains strong, it must be complemented with wisdom and caution in the face of rising insecurity.

“A nation cannot keep bleeding like this and expect to move forward,” CAN declared, adding that the country owes the victims justice, the living protection, and future generations a safer society.

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