A dispute between local oil refiners and crude suppliers surfaced again at a recent stakeholders’ meeting, with both parties accusing each other of breaching domestic crude supply agreements.
Oil producers alleged that refiners often failed to meet operational terms, while refiners accused producers of prioritizing exports over local supply.
The Dangote Refinery, with a capacity of 650,000 barrels per day, has reportedly struggled to secure sufficient crude. Alhaji Aliko Dangote previously accused international oil companies of sabotaging local refineries by favoring exports to Asia.
Despite President Bola Tinubu’s intervention to allocate crude for domestic refining, industry players argue that the naira-for-crude deal introduced in October 2024 has yet to resolve supply challenges.
Reports indicate that Dangote Refinery is set to receive 12 million barrels of crude oil from the United States this month as local supply issues persist.
