The Dangote Refinery, Nigeria’s largest privately-owned refinery, has accused the Nigerian National Petroleum Corporation (NNPC) of failing to meet its agreed crude oil supply obligations under the crude-for-naira arrangement.
In a statement issued by the Dangote Group, Edwin Devakumar, Vice President of the conglomerate, revealed that the NNPC had committed to supplying a minimum of 385,000 barrels per day (bpd) under the agreement but has not delivered on this commitment.
Devakumar further stated that while Dangote Refinery requires at least 650,000 bpd to meet its operational capacity, the volume supplied by the national oil company has been “peanuts,” though he did not specify the exact quantities received.
“We need 650,000 barrels per day, and NNPC Ltd agreed to supply a minimum of 385,000 bpd, but they are not even delivering that,” Devakumar said.
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In a related development, the refinery resumed importing crude oil from the United States after a three-month hiatus.
However, the ongoing supply challenges suggest that NNPC is struggling to meet its obligations under the new arrangement, which had hoped to alleviate Nigeria’s reliance on imported refined products.
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