The Nigerian National Petroleum Company Limited (NNPCL) has announced that it has officially ended the importation of refined petroleum products and is now sourcing fuel exclusively from domestic refineries, including the Dangote Petroleum Refinery.
Mele Kyari, the Group Chief Executive Officer of NNPCL, made this known on Monday during the Nigerian Association of Petroleum Explorationists’ conference held in Lagos.
Kyari confirmed the strategic shift, stating, “NNPC is no longer importing fuel; our supply is now fully reliant on Nigerian refineries,” as reported by PUNCH Newspaper. He elaborated that as a shareholder in the Dangote refinery, NNPCL sees a strategic advantage in supplying crude oil directly to local refineries in response to increasing competition in the global oil market.
“We identified a stable market for about 300,000 barrels of our production,” Kyari noted. “With new oil sources emerging globally, the market dynamics have shifted. Therefore, focusing on domestic refineries was a logical business decision,” he added.
Kyari emphasized that the move to prioritize domestic crude supply was not influenced by external pressure but was a proactive step aimed at enhancing Nigeria’s refining capacity and reducing dependence on imports.
Addressing the calls for local refining, Kyari mentioned that Nigeria’s crude, often referred to as “Lamborghini crude” for its premium quality, is more costly due to its high-grade nature. He pointed out that some international buyers blend it with lower-quality fuels to cut costs.
In a related development, the Independent Petroleum Marketers Association of Nigeria (IPMAN) has secured a deal with the Dangote Group to source refined products directly from the Dangote refinery. According to IPMAN President Abubakar Garima, this agreement, reached after a National Working Committee meeting, aims to ensure a consistent and affordable fuel supply across the country.
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