NNPC Increases Crude Supply to Dangote Amid Price Surge

The Nigerian National Petroleum Corporation (NNPC) is intensifying efforts to ensure a steady supply of crude oil to Dangote Petroleum Refinery in response to rising global oil prices, which have reached $108 per barrel. During a webinar hosted by the Major Energy Market Association, NNPC's Managing Director, Hubb Stokman, emphasized the corporation's commitment to its statutory role as a supplier of last resort to stabilize fuel availability across Nigeria.

The Dangote refinery has reported difficulties in sourcing enough local crude, receiving only five cargoes per month instead of the required thirteen, forcing it to rely on imports. This situation has contributed to a recent increase in petrol prices above N1,200 per liter.

NNPC is working closely with regulatory authorities to ensure uninterrupted crude supply and has established supply channels to maintain product availability. Despite temporary constraints, NNPC remains committed to supporting domestic refiners, including Dangote, under existing agreements.