noIn a move sparking fresh debate, the Federal Government has delivered additional crude oil shipments to the Dangote Petroleum Refinery raising concerns over preferential treatment and market dominance in Nigeria’s refining sector.
The latest supply comes amid an unexpected price reduction at the refinery’s loading gantry, where the cost of fuel dropped from N825 per litre to N815 per litre. Industry insiders claim the price cut is part of an aggressive strategy to outmaneuver competitors, intensifying concerns over the refinery’s growing market influence.
A top official at the Nigerian National Petroleum Company Limited (NNPCL), speaking anonymously, confirmed that crude oil vessels had already sailed to the $20 billion Lekki-based facility. However, sources revealed that these shipments had been delayed due to uncertainties surrounding the controversial naira-for-crude deal, fueling speculations about internal disagreements over the policy’s implementation.
The move follows a high-level meeting in Abuja by the Technical Sub-Committee on the Naira-for-Crude Policy, where officials reportedly scrambled to address brewing tensions and ensure continued compliance with the policy framework.
Despite repeated inquiries, Dangote Refinery officials have remained silent, refusing to comment on the deliveries or the implications of the refinery’s growing monopoly in the downstream oil sector.
As crude supply continues to flow into Africa’s largest refinery, questions linger: Is the government favoring Dangote at the expense of other local refineries? Is this the beginning of a state-backed oil monopoly?
