Business
DANGOTE REFINERY: CIVIL SOCIETIES TO MONITOR CRUDE SALES COMPLIANCE BY NNPCL
…To set up Situation room in Abuja
A coalition of Civil Society Organizations (CSO) at the weekend said it would set up a situation room to monitor the compliance of the Nigeria National Petroleum Corporation Limited (NNPCL) to the presidential directive to sell crude oil to Dangote Refinery in Naira currency.
Leaders of the 28 CSOs who were on facility tour of the 650,000 bpd world’s largest single train refinery in Lagos said the disposition of the NNPCL and the regulatory agencies was a clear indication the they deliberately held down the nation’s refineries so that they could continue importing petroleum products.
Recall that President Bola Tinubu had in the web of controversies that trailed the face-off between Dangote Refinery and the NNPCL intervened and directed the Corporation to henceforth sell crude to Dangote Refinery in Naira
Speaking on behalf of others, Solomon Adodo of the Rise Up for A United Nigeria said what his group had seen was a world class facility and wondered how a regulatory agency of the government could take sides with importers of petroleum products when a local refinery is now available to bail the nation out of the forex quagmire which has made the price petroleum products to skyrocket.
He disclosed that the CSOs have concluded to petition the Presidency on the need to adopt Dangote Refinery as a national asset that should be used to liberate the country from the shackles of importation of fuel while it exports crude.
Said he: having gone round to see this world class project, we are at a loss as to why the government could decide to turn against Nigerians in this manner. But we are not too surprised give our past experiences. Those who are profiting from our collective misfortune will not want the Dangote refinery to work.
“We are ready to defend this facility with everything as civil society organizations. We are not speaking on our behalf but on behalf of all Nigerians and on behalf of our fatherland. It leaves much to be desired how an agency of government with oversight function to guide to grow such a project as this would now be disparaging same project. This is too bad.
“We have seen for ourselves and we have cleared all doubt as to the completion of this refinery and the readiness to supply all our domestic needs. We will exposed them all. Anyone who is not ready to ensure Nigeriand have a new lease of life must give way. Now it is fight to finish.
“Going forward, we are going to set up a situation room to monitor the compliance of the NNPCL with the directive of Mr. President that Dangote Refinery would be supplied with Crude in Naira because we know that the enemies of the people would wnt to adopt another strategy to sabotage the presidential directive.
“It is a criminal audacity for an agency of government to brazenly disparage a national asset like Dangote Refinery, more so when government has four refineries and all of them are moribund, how then would you treat a orivate investors who has committed everything to build a functional refinery much more bigger than all the four own by government put together.
“Nigerians are not stupid; we all know what is interplaying here. They told us that after removing fuel subsidy, market forces would force the price down , what a fallacy of market forces, here we are, the forces have only succeeded in pushing the price up. Now we have a local refinery that will bail us out yet they don’t want it to operate. So that Nigerians would benefit from it.”
Adodo said that the CSOs would mount serious advocacy to make government accede to demands of Nigerians which is not just granting the sale of crude to Dangote Refinery in Naira but also ensuring Dangote fuel are available at petrol stations for Nigerians to buy.
The group appealed to the management of Dangote Refinery not to be discouraged but to trudge on as the group would mount serious campaign in favour of the refinery. “Even if it means we should protest, we will. We cant allow this international embarrassment to stand.”
He argued that all the claims about monopoly against Dangote Refinery was just to call a dog a bad name in other to hang it. What Dangote Refinety will stand foe is not monopoly but peoplepoly. We will write the American Societ of Engineers over this and the European Union. We will maintain eternal vigilance.
Speaking while welcoming the group, Vice-President, Dangote Industries Limited, Devakumar Edwin, described Dangote Refiney as a value adding facility as it will stop the exportation of Nigeria’s crude and importation of finished products and wonder why government would be against such a vision for Nigeria.
According to him, many African countries have minerals but they are not adding value to their economies because, those minerals are exported raw and the finished products are imported back into the country whereas vice versa should have been the order of the day.
“This is what Dangote refinery seeks to correct, we did same in Cement and Sugar sectors where Nigeria was a a leading importer of those products and with the coming of Dangote leading the backward integration programme of the government, others cam into the sector and together Nigeria now exports cement to other countries.
“What we want to do in Refinery, we have done it other businesses, Nigeria used to be the biggest importer of Sugar, we came in and change the narrative. We led the backward integration scheme of the federal government, and we now produce sugar locally for domestic consumption and others have joined us. We did same in Cement by opening up production plant and today Nigeria exports cement to other countries.
“In a business no one was interested in investing into, Dangote delved into it determined to ensure Nigeria no longer imports fuel, invested massively and come up with the world’s largest single train refinery. He said he would not take his money to Dubai or Swiss banks as others are doing, he decided to invest at home and now they are saying he wants to create monopoly.
“We didn’t ask for any favour other than that we want to buy crude to produce, first they said there was no crude, later they said we would have to pay some dollars above the prevailing crude market price. And this is a global market where you can track crude prices anytime. We resorted to buying crude from Brazil and United States. Later they said we should not be announcing the price of the products.
“Even the US that is the leading proponent of of free market economy protects its local industries by imposing huge duty on from foreign imports just to protect local industries. This is a man that Saudi Aramco once approached to come and cite hie refinery in Saudi Arabia, promising steady supply of cruse. Abu Dahbi also invited him to do same on their soil but he rejected insiting he would build at home, now he did that and a facility that is supposed to add value to Nigeria’s economy is being frustrated.”
The Dangote Vice-President said the Company would continue to focus on its business strategy which is to add value to Nigeria economy through investments and job creation for the teeming Nigerian masses. According to him, Nigeria can only consume 45% of the capacity of the refinery while the remaining 55% will be exported and bring into the country foreign exchange needed badly.
FirstBank Makes Home Ownership Possible for Nigerians with Single-Digit Interest Rate Loan
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Alpha Morgan Bank Deepens Presence in Abuja with New Branch in Utako
Marking another milestone in its expansion drive, Alpha Morgan Bank has opened a new branch in Utako, Abuja, reinforcing its strategy of building closer institutional ties within key business communities and bringing its financial expertise closer to individuals, and enterprises driving the city’s growth.
The new branch, located at Plot 1121 Obafemi Awolowo Way, Utako, Abuja is strategically positioned to serve individuals, entrepreneurs, and corporate clients within Utako and surrounding districts.
The expansion follows the Bank’s recently concluded Economic Review Webinar held in February 2026, as the bank continues to position as a thought-leader in the financial services industry.
Speaking on the opening, Ade Buraimo, Managing Director of Alpha Morgan Bank, said the move underscores the Bank’s commitment to accessibility and service excellence.
“Proximity matters in banking. As communities grow and commercial activity expands, financial institutions also evolve to meet customers where they are. The Utako Branch allows us to deliver our services to people in that community efficiently while maintaining the high standards our customers expect,”
The Utako location will provide a full suite of retail and corporate banking services, including account opening, deposits, transfers, business banking solutions, and financial advisory support.
Customers and members of the public are invited to visit the new Utako Branch to experience the Bank’s approach to satisfying banking.
Dangote Refinery Prioritises Domestic Supply Amid Global Energy Turbulence
By George Omagbemi Sylvester | Published by SaharaWeeklyNG
“Nigeria insulated from international fuel shocks as Dangote Petroleum commits to uninterrupted local delivery.”
Dangote Petroleum Refinery and Petrochemicals has reaffirmed its commitment to prioritising the domestic market, pledging to shield Nigerians from the ripple effects of ongoing global energy disruptions. The assurance, delivered in Lagos on 5 March 2026, comes as international refinery operations experience shutdowns or reduced output due to escalating Middle East geopolitical tensions, which have sent crude oil and petroleum product prices soaring worldwide.
“Our mandate remains clear: Nigeria’s local market takes precedence. In times of global supply shocks, we will continue to ensure that domestic availability of petrol, diesel, and kerosene is uninterrupted,” said Mr. Folorunsho Alakija, spokesperson for Dangote Petroleum Refinery.
The refinery’s declaration arrives amid mounting concerns over fuel scarcity, triggered by export restrictions imposed by major international producers, including China, and shipping delays that have further tightened global petroleum supply chains. Industry analysts have hailed the domestic focus as a critical buffer against volatility that could otherwise push Nigeria into deeper energy insecurity.
Domestic Shield Against Global Disruption
Dangote Refinery, Africa’s largest oil processing facility, has leveraged its multi-million-barrel refining capacity to mitigate Nigeria’s historical dependence on imported petroleum products. The company emphasised that prioritising local supply provides a strategic advantage in insulating the nation from international market shocks.
“Our refinery’s scale allows Nigeria to withstand short-term external disruptions. We have the infrastructure and capacity to meet local demand even when global supply chains falter,” explained Mr. Chijioke Okonkwo, Operations Director at Dangote Refinery.
The proactive approach is particularly significant as several international refineries have either reduced throughput or temporarily halted operations, causing a global scarcity of refined products. Experts warn that without domestic cushioning, fuel prices in Nigeria could have surged sharply, exacerbating inflationary pressures in a fragile economy.
Managing Costs While Prioritising Supply
In response to rising procurement costs for crude oil amid the international crisis, Dangote Refinery introduced a modest ₦100 per litre increase in the ex-depot price of Premium Motor Spirit (PMS), absorbing roughly 20 percent of the cost escalation to lessen the impact on consumers.
“We are balancing operational sustainability with affordability. While global prices have risen sharply, we have chosen to absorb a significant portion to protect Nigerian households and businesses,” noted Mr. Emmanuel Adeyemi, Chief Finance Officer.
This pricing strategy underscores the refinery’s dual focus: ensuring uninterrupted supply while cushioning the public from abrupt spikes that could destabilize economic activity. Industry observers have lauded the approach as pragmatic, considering the volatility in international oil markets.
Strategic Distribution Initiatives
Beyond refining, Dangote Petroleum has initiated Compressed Natural Gas (CNG) powered trucks to enhance nationwide distribution efficiency. The initiative seeks to reduce logistics costs and carbon emissions while ensuring a more reliable delivery network to petrol stations across urban and rural areas.
“Logistics is a critical part of the energy supply chain. By deploying CNG-powered trucks, we reduce dependency on expensive diesel, lower delivery costs, and improve supply reliability across the country,” explained Ms. Funke Adedoyin, Head of Logistics Operations.
This strategic move reflects a broader commitment to modernising Nigeria’s petroleum distribution infrastructure, reducing bottlenecks that have historically contributed to scarcity at retail outlets.
Implications for National Energy Security
Nigeria has historically struggled with fuel imports to meet domestic demand, making the country vulnerable to international market fluctuations. Dangote Refinery’s prioritisation of local supply mitigates this vulnerability by leveraging home-grown refining capacity, which allows for timely access to petroleum products and less reliance on foreign shipments.
“With Dangote Refinery leading local prioritisation, Nigeria is less exposed to global fuel shocks. The country is moving towards self-reliance in petroleum product supply,” commented Dr. Halima Suleiman, energy sector analyst.
Experts note that sustained operations at the refinery not only enhance energy security but also preserve foreign exchange, reduce import bills, and stabilise domestic market prices.
Corporate Social Responsibility and Market Stability
The refinery’s commitment is part of a broader corporate responsibility framework. Dangote Petroleum continues to engage with government agencies and regulatory bodies, ensuring that domestic supply is coordinated with Nigeria’s Petroleum Product Pricing and Regulatory Agency (PPPRA) to prevent panic buying and market distortions.
“We are in constant consultation with the government to ensure that our supply strategies align with national economic priorities,” said Mr. Alakija.
Such collaboration helps avert artificial shortages, stabilises pump prices, and maintains confidence in the domestic fuel market. Analysts argue that this approach exemplifies how private sector capabilities can complement governmental policies to enhance national resilience.
Navigating Global Uncertainties
The refinery operates in a complex global environment, where geopolitical crises, shipping constraints, and crude oil volatility can trigger disruptions. Dangote Petroleum’s domestic-first approach positions Nigeria to weather such crises more effectively.
“Global uncertainties are unavoidable, but our infrastructure and strategy ensure that Nigerians remain insulated from immediate shocks,” said Mr. Okonkwo.
This emphasis on resilience aligns with global best practices, where national refining capacity is leveraged to protect local markets from international supply disruptions.
Stakeholder Reactions
The government, civil society, and industry stakeholders have welcomed Dangote Petroleum’s strategy. Officials from the Federal Ministry of Petroleum Resources noted that prioritising local supply aligns with Nigeria’s energy security policies and reduces the burden of foreign exchange expenditures on crude imports.
“Dangote Refinery is demonstrating leadership. Its domestic prioritisation ensures that the Nigerian economy remains insulated during turbulent global markets,” said Dr. Tunji Olumide, Special Adviser on Energy.
Consumers have also expressed cautious optimism. Retail operators and commuters reported steadier fuel availability in Lagos and other cities, though concerns remain about sustained pricing and distribution efficiency.
The Road Ahead
While Dangote Refinery’s strategy provides immediate relief, experts argue that long-term stability requires further investments in alternative energy, diversified refining infrastructure, and strategic reserves. This ensures that Nigeria can withstand global shocks without relying excessively on imports or temporary supply adjustments.
“Short-term measures like prioritising local supply are critical, but long-term energy security demands diversification, renewables adoption, and consistent policy implementation,” said Dr. Suleiman.
The refinery is exploring additional initiatives, including expanding storage capacity, upgrading pipeline networks, and adopting technology-driven monitoring systems to ensure supply continuity across the country.
Final Take
By prioritising domestic fuel supply amid global market turbulence, Dangote Petroleum Refinery and Petrochemicals has demonstrated its role as a stabilising force in Nigeria’s energy sector. Through strategic logistics, modest pricing adjustments, and engagement with government regulators, the refinery is insulating the nation from international shocks while maintaining operational sustainability.
“Our responsibility extends beyond profitability; it’s about ensuring Nigerians have reliable access to essential fuel. We take that mandate seriously,” concluded Mr. Adeyemi.
The refinery’s actions offer a blueprint for how large-scale domestic capacity can protect national economies in times of global energy instability, underscoring the critical intersection of private sector resilience, public policy, and national energy security.
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