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Why Dangote Refinery Can’t Get Enough Crude Supply From IOCs In Nigeria – LCCI
In a recent interview with CNN, Aliko Dangote, Chairman of Dangote Refinery, highlighted the difficulties international oil companies (IOCs) are encountering in supplying crude oil to local refineries. Dangote pointed out that IOCs prefer exporting crude oil to earn foreign exchange, despite the efforts of the Nigerian National Petroleum Corporation (NNPC) to facilitate local supply.....KINDLY READ THE FULL STORY HERE▶
“The NNPC is doing its best, but some of the IOCs are struggling to give us crude. Everybody is used to exporting, and nobody wants to stop,” Dangote told CNN.
Dr. Almona elaborated on these issues, emphasizing that oil theft and pipeline vandalism are critical hindrances to crude supply. She stated, “The issue of oil theft, pipeline vandalism, and policy concerns, among others, are all contributory factors.”
Furthermore, Almona mentioned ongoing discussions about the public information regarding crude supply from IOCs to the Dangote Refinery. She confirmed that, according to public data from Dangote Group, some IOCs have been supplying crude oil to the refinery. Despite these efforts, there are still challenges that need to be addressed to ensure a consistent supply.
“The efforts of the government in ensuring crude supply to Nigerian refineries, including Dangote Refinery, are reasonable. However, we call on the Nigerian Petroleum Corporation Company Limited (NNPCL) and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) to do more in granting a soft landing to the new refinery if there are any issues around pricing and supply contracts between the two parties,” Almona added.
Despite Nigeria producing 1,281,478 barrels of crude oil daily (excluding condensates), Dangote Refinery has sought crude supply from the United States. Industry experts have attributed the slow commencement of fuel production at the refinery to the lack of adequate crude supply. In January 2024, the refinery began producing diesel and aviation fuel, several months after its commissioning in May the previous year.
This situation underscores the complex interplay of domestic challenges, including security issues and economic policies, affecting the local oil industry and its ability to meet the needs of major refineries like Dangote.
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“CAMPAIGN SHOCKER: The Untold Story Of How Aregbesola And Abdullahi Were Dumped From Atiku’s Team!”
Phrank Shaibu, the Special Assistant on Public Communications to African Democratic Congress (ADC) Presidential Candidate Atiku Abubakar, has clarified why National Secretary Rauf Aregbesola and National Publicity Secretary Bolaji Abdullahi were excluded from the party’s Presidential Campaign Council.....KINDLY READ THE FULL STORY HERE▶
Speaking in an interview with The Nation, Shaibu explained that both NWC members were left off the list because they serve on the party’s National Working Committee (NWC), which was tasked with putting the campaign structure together. “These are National Working Committee (NWC) members who constituted the campaign council. Every directorate has a duty. Every director has an assignment. Every appointee must account for results,” Shaibu stated. Their absence from the council list was officially noted on Thursday.
Key Highlights:
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High-Profile Members Included: Despite the exclusions, the newly released campaign council features heavyweights such as Atiku Abubakar, running mate Rotimi Amaechi, ADC National Chairman David Mark, and former Kaduna State Governor Nasir El-Rufai.
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Notable Figures on Board: The roster also features former presidential aspirant Mohammed Hayatu-Deen, former CBN Deputy Governor Professor Kingsley Moghalu, Senator Dino Melaye, and former presidential aide Lauretta Onochie.
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Legal Status Note: El-Rufai, included on the committee, is currently facing trial and remains in the custody of the Independent Corrupt Practices and Other Related Offences Commission (ICPC).
Edo State Governor Monday Okpebholo has taken a swipe at political opponents eyeing the presidency in 2027, dismissing them as “supermarket people” who have no business trying to unseat President Bola Tinubu.....KINDLY READ THE FULL STORY HERE▶
Speaking during the flag-off ceremony for the Federal Government’s palliative rehabilitation of the Benin-Asaba Road, Governor Okpebholo asserted that President Tinubu should be allowed to complete a full eight-year term.
Key Highlights:
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The “Supermarket People” Taunt: Okpebholo criticized aspiring candidates, stating that the president is not a “supermarket man” and mocking the opposition’s ambitions while declaring that Aso Rock is not vacant.
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Call to Wait: He advised challengers to wait for their turn, suggesting they only contest if there are no qualified technocrats and noting that Tinubu is actively working to fix deep-seated national issues.
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Historical Criticisms: The Edo governor alleged that the same politicians preparing to run against Tinubu in 2027 were responsible for fighting former President Goodluck Jonathan and sabotaging his initiative to build Almajiri schools ahead of the 2015 election.
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Warning on Wasted Funds: Okpebholo maintained that Tinubu’s tenure must run its course for eight years and warned prospective opponents against wasting their money on a failed bid, claiming supporters might take their cash without actually voting for them.
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“ANAMBRA DEBT WARS: Peter Obi Breaks Silence, Drops Massive Truth Bombs On Relationship With Soludo!”
Former Anambra State Governor and Nigeria Democratic Congress (NDC) presidential candidate Peter Obi has clarified that he harbors no animosity toward his successor, Governor Chukwuma Soludo, and has permanently stepped away from contesting any state governorship.....KINDLY READ THE FULL STORY HERE▶
Speaking on Arise TV, Obi explained that his recent silence was due to mourning his late elder brother and friend, Chief Okey Ezeibe. However, he chose to address the public discourse surrounding project financial obligations from his eight-year tenure.
Key Highlights:
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No Rift with Soludo: Obi firmly stated that he has no disagreements with Governor Soludo or any other Nigerian governor, noting that he will never seek a governorship seat again under any circumstances.
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Call for Free Campaigns: He appealed to governors across the board to allow presidential candidates and contenders from all political parties to campaign freely and without interference in their states.
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Clarifying the Debt Figures: Addressing the $123.77 million external facility figure raised by the current administration, Obi rejected the label of “debt left by Peter Obi,” explaining that the funds were primarily World Bank and IFAD development programs negotiated by the Federal Government via subsidiary arrangements.
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Contradicting Records: Obi highlighted a major contradiction, pointing out that DMO records placed Anambra’s total external debt at roughly $30 million when he left office in March 2014, and challenged the state government to explain how it arrived at the higher figure. He also emphasized that his administration left office with zero unpaid salaries, gratuities, pensions, or verified contractor debts.
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