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Dangote sets to buy 12m barrels of crude oil from United States for refinery operations

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Aliko Dangote

 

The Dangote Petroleum Refinery is awaiting up to 12 million barrels of crude oil from the United States.

The refinery resorted to crude importation as local supply challenges hindered the new $20bn refinery’s push to reach full refining capacity.

Recall that the refinery plans to reach its 650,000 barrels per day capacity in June this year.

However, low local crude supply from the Nigerian National Petroleum Company Limited is currently a challenge to this plan to ramp up daily production.

The 12 million barrels of crude has already left the United States and will land in Nigeria next month, according to the news from African Report.

“About 12 million barrels of crude have departed the US and should arrive in Nigeria by February,” an insider source told The Africa Report.

Dangote Petroleum Refinery is said to be importing more crude oil as supply from the NNPC becomes insufficient for fuel production at the $20bn Lekki-based facility.

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Officials at the plant said the facility has ramped up production to about 500,000 barrels per day, with the target of hitting the 650,000bpd mark by June this year.

The NNPC is reportedly struggling to supply 350,000bpd to the Dangote refinery from the 450,000bpd crude meant for Nigeria’s local consumption.

With its current production capacity of 500,000bpd, officials said there is a need to look beyond the shores of Nigeria for the feedstock.

It was said that the feedstock needed by the refinery daily cannot be solely supplied by the state-owned oil company, NNPC.

Recall that in July, President Tinubu ordered the NNPC to sell crude oil to local refineries in naira.

According to the crude oil production forecast of producing oil companies and the refining requirement of functional refineries in Nigeria signed by the Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission, Gbenga Komolafe, the Dangote refinery would require 550,000 barrels of a blend of Nigerian crude oil daily, 17.05 million barrels monthly, and 99.55 million barrels between January and June 2025.

The Dangote refinery is already building eight more tanks to store imported crude. The facility is planning to stockpile imported crude oil as local supplies become unreliable.

Officials of the refinery were quoted as saying that low crude supply from the NNPC “is driving import dependence.”

The building of eight additional tanks will see crude storage capacity at the refinery jump by 41.67 per cent to 3.4 billion litres.

“Importing crude from other countries instead of buying locally means that our crude stockpiles will have to be higher,” the Vice President in charge of the oil and gas business at Dangote Industries, Devakumar Edwin, was quoted as having said recently.

In May 2024, the refinery reportedly issued a term tender for the purchase of two million barrels of West Texas Intermediate Midland crude monthly for 12 months starting in July last year, amounting to 24 million barrels of crude in one year.

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Ohanaeze Ndigbo Slams Amaechi’s Call for Power Snatch: “A Threat to Democracy

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The Ohanaeze Ndigbo has condemned the call for the use of force to snatch power from President Bola Tinubu by the former minister of transportation, Rotimi Amaechi.

A statement by the president General of Ohanaeze Ndigbo, Okechukwu Isiguzoro said the Igbo socio-political group is solidly behind the administration of Tinubu and its policies.

Isiguzoro describe Amaechi’s comment asking Nigerians fo snatch power from the president as a threat to democracy.

He said Amarchi’s remark is capable of disrupting the peace and civility enjoyed across Nigeria.

“Amaechi’s equally disconcerting assertion that politicians must be willing to ‘steal, maim, and kill’ to retain power not only diminishes the dignity of our political discourse but also poses a dire threat to the very fabric of our society.

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“We condemn in the strongest possible terms the reckless and incendiary comments made by Chibuike Amaechi against President Bola Ahmed Tinubu

“It is essential to declare firmly that the Ndigbo will never endorse any political conspiracy aimed at undermining the legitimacy of an elected President,” Isiguzoro said.

Further stating the President Tinubu has the total backing of Ndigbo, Isiguzoro called on Amaechi to immediately retract his “divisive comments” against Nigeria’s number one man.

“Our resolve is steadfast, as we remain committed to fostering peace, stability, and fruitful governance in Nigeria.

“Let it be said that the aspirations of the Igbo people align with a future predicated upon legitimate leadership, respect for democratic processes, and a shared vision for a prosperous Nigeria,” Isiguzoro concluded.

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Ex-Rep Kawu distributes N100m worth cars, plots, N10m cash grants, 33 motorbikes

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In an effort to cushion the effect of the plaguing economic hardship facing the nation, former member of the House of Representatives, from Tarauni, Kano, Hafizu Kawu, has distributed varieties of cars to party leaders and followers.

He also gave out cash grants to twenty people as the sum of Five Hundred Thousand Naira (N500,000) was given to each. While 33 people went home with brand new motorbikes.

Kawu said he decided to do this at this critical period of global economic transition, when every country in the world is being faced with peculiar economic challenges. Since the exit of COVID-19 pandemic era.

“In our own situation we need to compliment the effort of our President, Bola Ahmed Tinubu who is evolving ways and manners to cushion the effect of post COVID-19 era,” he said.

Leaders and elders of All Progressives Congress (APC), from Tarauni local government benefited from the gesture delivered by Kawu, as many of them were seen exchanging pleasantries assuring that they would do their best to see that Kawu get elected come 2027.

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While describing the gestures as dividends of democracy, Kawu assured that he would continue doing that, to assist improve entrepreneurship development in his constituency.

Party leaders were sighted lamenting that, it was just fate that worked against Kawu in 2023 election. When he lost to the then opposition party. As well as in court rulings.

Strong APC members in Tarauni federal constituency, assured that they would support the candidature of Kawu come 2027 general election.

Believing that when he was a member in the last Assembly he delivered goodies to his constituency. That alone, according to them, is a clear testimony that he could perform again when he gets the chance.

 

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Nigeria’s Democracy Survives Threats – General Abubakar

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Former military Head of State, Abdulsalami Abubakar, says Nigeria’s democracy has survived threats from forces seeking to destroy it.

Abubakar stated this at the public presentation of a book, ‘Celebrating 100 Years of Political Party Evolution in Nigeria — The Imperatives of Nigeria’s Political Stability: Issues and Solutions’, by the Inter-Party Advisory Council, IPAC, on Thursday in Abuja.

The ex-Head of State, who was represented by Abdulrasheed Aliyu, a retired general, said democracy has come to stay in Nigeria.

There is no substitute for the government of the people, by the people, and for the people, which democracy represents, as sovereignty resides with the people.

“I am happy that my government, as the then military head of state, ushered in this era of democracy when I handed over power to the elected president on 29th May 1999.

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“My government laid this solid foundation for democratic governance. It also shows that when leaders are patriotic, passionate, resolute, and unwavering in building strong democratic structures and institutions, democracy can flourish and yield its dividends to citizens.

We should, therefore, keep watering and nurturing the tree of democracy, as there is no alternative to civil rule. Our democracy has been tested and shaken by reactionary forces and survived. It is a testament to citizens’ belief and resilience in representative governance,” he said.

It can be recalled that Abubakar was sworn in as Head of State after the death of Sani Abacha in June 1998.

He was Nigeria’s last military leader, who handed over power to democratically elected Olusegun Obasanjo in 1999, keeping his promise of returning the country to civilian rule.

He applauded IPAC for the foresight in articulating and writing this historic book on 100 years of political party evolution in Nigeria, saying it is a milestone in the nation’s democratic process.

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