By Huldah Shado
Aliko Dangote, President of the Dangote Group, has disclosed that the company’s 650,000-barrel-per-day refinery is increasingly depending on crude oil imports from the United States due to limited domestic supply.
Between April and July 2025, the Dangote Petroleum Refinery is expected to import a total of 17.65 million barrels of crude, with about 3.65 million barrels already delivered in the past two months.
Dangote revealed this during a visit by the Technical Committee of the One Stop Shop for the sale of crude and refined products in naira, led by Coordinator Mrs Maureen Ogbonna.
In a statement issued by the company, Dangote praised the committee for supporting President Bola Tinubu’s naira-for-crude initiative, which he said has helped reduce fuel prices, eased demand for dollars, and stabilized the naira.
Despite these gains, Dangote noted that the refinery has struggled to secure adequate domestic crude, forcing it to turn to imports of West Texas Intermediate crude from the US to maintain production levels.
Energy analyst Aleksandr Butov remarked that this growing dependence on US crude underscores Nigeria’s ongoing production shortfalls, despite government pledges and the crude-for-naira policy.
Dangote also stressed the need for strategic investment in industrial infrastructure, explaining that the refinery project required the development of a state-of-the-art marine terminal capable of hosting some of the world’s largest vessels.
Mrs Ogbonna described the $20 billion refinery as a landmark project for Nigeria’s industrial growth, noting its positive impact across various sectors, including pharmaceuticals, construction, food, and plastics.
She commended Dangote’s vision and execution, calling it a turning point in the nation’s economic transformation.
