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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.

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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.

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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APC Aspirant Gifts 15 Million Naira To Former Councillors In Fagge

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Hon. Sagir Abba, an aspirant for the Fagge Federal Constituency under the All Progressives Congress (APC) in the upcoming elections, has distributed ₦15 million to former councillors, party elders, youths, and women in Fagge Local Government Area as part of his Ramadan outreach.

During the distribution in Fagge, 1,000 youths received ₦10,000 each, while 50 women from each of the ten political wards—totaling 500 beneficiaries—were given ₦10,000 and a wrapper. Former councillors who served between 2014 and 2021, along with party elders, received ₦30,000 each.

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“This gesture is a token of my commitment to bringing the dividends of democracy to the people of Fagge. Ramadan is a time for compassion and sharing, and I am happy to support our youths, women, and elders in this blessed month,” Hon. Sagir Abba said.

Alhaji Musa Danjuma, one of the party elders, said, “Hon. Sagir has once again demonstrated his commitment to the welfare of our people. This assistance will go a long way, especially during Ramadan.”

Aisha Sani, one of the women who received cash and a wrapper, said, “This support means a lot to us. It will help us take care of our families during this holy month.”

The event was attended by community leaders, APC stakeholders, and beneficiaries.

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Rivers Emergency Portrays Nigeria in a Negative Light-Jonathan

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Former President Dr. Goodluck Jonathan has broken his silence over the political crisis in Rivers State, expressing deep concern over the suspension of Governor Siminalayi Fubara and other elected officials, stating that such actions tarnish Nigeria’s global reputation.

Jonathan made these remarks while speaking as the chairman at the Haske Satumari Foundation Colloquium in Abuja on Saturday.

Jonathan criticized the removal of elected officials, emphasizing that these actions by key figures in the executive and legislative branches present Nigeria in a negative light.

He noted that while former presidents typically refrain from commenting on national issues to avoid inflaming political tensions, he felt compelled to speak out due to mounting calls from Nigerians urging him to address the situation.

The former president underscored the importance of maintaining the integrity of governance institutions, warning that undue influence over the judiciary erodes public confidence in the legal system.

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He also highlighted how Nigeria’s international image and investment climate are directly impacted by the conduct of its governmental arms.

Meanwhile, on the same day, the New Nigeria Peoples Party (NNPP) voiced support for President Bola Tinubu’s declaration of a state of emergency in Rivers State. NNPP National Chairman, Dr. Agbo Major, defended Tinubu’s decision, arguing that no responsible government would allow a worsening crisis to go unchecked.

Major stated that President Tinubu, as Nigeria’s Chief Security Officer, had access to intelligence that might not be publicly available. He suggested that without intervention, the situation in Rivers could have escalated further, posing significant security threats.

He also criticized some political leaders who, instead of promoting peace, allowed the crisis to deteriorate before stepping in with belated interventions and criticisms

 

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KEDCO Sympathizes with Dakata Small-Scale Industries Over Recent Fire Outbreak

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Kano Electricity Distribution Plc. (KEDCO) extends its deepest commiserations and sympathies to the leadership, workers, and business owners affected by the recent devastating fire outbreak at the Dakata Small Scale Industries, in Kano.

This was conveyed by the Managing Director and Chief Executive Officer, Abubakar Yusuf during a commiseration visit by the KEDCO Management

During the visit, the KEDCO delegation was guided around the market by the leadership of the industries to assess the extent of the damage.

KEDCO understands the significant challenges such an unfortunate incident can cause, particularly for small-scale businesses crucial to the local economy. The company acknowledges the hard work, dedication, and resilience of the entrepreneurs and workers within the Dakata small-scale community, who contribute significantly to job creation and economic growth in the region.

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In response to this incident, KEDCO is committed to providing any necessary energy-related support to help those affected by the fire, facilitating their swift recovery, and smooth resumption of operations.

“On behalf of the Board and Management, we deeply sympathize and stand in solidarity with the people of Dakata and the affected industries. One of KEDCO’s missions is supporting the socio-economic growth and development of our entire franchise areas and, in times of crisis, we remain dedicated to doing everything in our power to assist in business recovery and sustainability,” the MD stated.

“Our thoughts and prayers are with all the affected business owners. I can only imagine the challenges they are currently facing, however, they are not alone as we will continue to pray for Allah’s succor upon them,” he added.

Yusuf also urged all stakeholders to collaborate in ensuring that such incidents are prevented in the future, by adopting appropriate safety measures across all industrial areas.

In a statement signed by Sani Bala Sani Head corporate communications said  the Chairman of Micro, Small, and Medium Enterprises in Dakata, Alhaji Zulkifilu Alasan, expressed deep gratitude for the visit, stating, “This visit is a testament to the new KEDCO’s commitment to excellence and customer intimacy. Since KEDCO’s inception, this is the first time its MD/CEO and his team embarked on such a solidarity visit to the Dakata small-scale industries.”

 

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