The NNPC will supply the Dangote refinery with six million barrels of crude in December. This move is for test runs, sources say. The NUPRC has pressed for adherence to the PIA due to supply concerns.
Aliko Dangote, the continent’s richest man, funds the refinery. This venture is set to reshape oil trading across the Atlantic. It will also cut fuel exports from Europe and the U.S. to Africa. Located in Lagos’ trade zone, the refinery will push Nigeria to become a fuel exporter. This change aligns with its OPEC aspirations.
An NNPC insider disclosed a plan for six December shipments. This amounts to 200,000 barrels daily. This plan hinges on a yearly contract. Future supplies will rely on agreements and oil availability. NNPC, owning 20% of the refinery, keeps some deal details secret.
The refinery began operations in May after a delay, costing $19 billion. It promises to boost Nigeria’s economy with jobs and fulfill the country’s fuel needs. It will also supply markets abroad.
According to a report by This Day Live, a spa between NNPC and Dangote is on the horizon. The deal will not feature discounts, respecting the PIA’s guidelines for domestic crude supplies.
Initial plans had NNPC providing 300,000 barrels of crude at the refinery’s start. Yet, a delay shifted the supply to November, raising concerns.
The Dangote refinery covers over 2,600 hectares in Lagos’ Free Zone. It features a vast pipeline network and a power plant to meet Ibadan’s energy needs.
The NUPRC, under Gbenga Komolafe, has emphasized fulfilling crude obligations. It sees supplying the Dangote refinery as crucial for national pride.
