NNPC Stalls Dangote Refinery Production
Almost every Nigerian is facing unprecedented hardship due to government policies. Nigeria is the only oil-producing country where fuel at the pump costs more than in non-oil-producing countries. We urgently need to take advantage of the Dangote Refinery, a lifeline that may help reduce petrol prices efficiently and permanently. Our reliance on imported refined petroleum products continues, given the maladministration of our refineries, which are either moribund or irredeemable.
Aliko Dangote, Africa’s richest individual, has presented Nigeria with a beacon of hope through a 650-bpd private refinery equipped with state-of-the-art facilities that rival those of advanced industrialised countries. However, the NNPC, the state-run oil firm, has failed to honour its commitment to supply the refinery with enough crude to operate at its total capacity. Instead, the Dangote Refinery has been forced to import crude from Brazil and the United States at a $4 mark-up price.
Dangote Refinery Is Forced to Import Crude from Brazil and the US at a Mark-Up Price
Still, it is not meeting its daily capacity. The highest it is projected to meet this year is 550 bpd, over 100 bpd less—a considerable number when multiplied by a few months. The refinery should take precedence over presidential jets, homes, and all other irrelevant agendas the government has focused on. Should Dangote Refinery hit its maximum daily capacity for three consecutive months, Nigerians will feel the difference at the pump. This will also help plateau the declining naira and inflation that have eaten up the economy since President Bola Tinubu assumed office in May 2023.
By Ikechukwu ORJI
