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The Nigerian National Petroleum Company Limited (NNPCL) has announced that it has ceased importing refined petroleum products and is now sourcing fuel from domestic refineries, including the Dangote Petroleum Refinery.
Mele Kyari, the NNPCL Group Chief Executive Officer, shared this update on Monday at the Nigerian Association of Petroleum Explorationists’ conference in Lagos.
Kyari confirmed that NNPCL’s fuel supply now solely relies on local refineries. “NNPC is no longer importing products; we are solely acquiring fuel from Nigerian refineries,” he stated, as reported by PUNCH Newspaper.
He explained that NNPCL, as a shareholder in the Dangote refinery, saw a strategic advantage in supplying crude oil to local refineries, including Dangote’s, as global oil markets become increasingly competitive. “We saw a clear market for around 300,000 barrels of our production.
With the emergence of new oil sources globally, market competition is intensifying. So, it made strategic sense to focus on domestic refineries,” Kyari explained.
Kyari added that NNPCL’s decision to prioritize domestic crude supply wasn’t influenced by external pressure but was a proactive business move, supporting the nation’s refining capacity from the outset.
He also addressed the call for Nigeria to refine its own crude, noting that Nigerian crude, often regarded as high-quality or “Lamborghini crude,” is generally more expensive due to its premium quality.
Kyari also highlighted that some international buyers mix it with lower-grade fuels to reduce costs.
In related developments, the Independent Petroleum Marketers Association of Nigeria (IPMAN) recently secured an agreement with the Dangote Group to source refined products directly from the Dangote refinery.
IPMAN President Abubakar Garima, after a National Working Committee meeting, said this partnership is expected to support a steady and affordable fuel supply across Nigeria.