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The Dangote Oil Refinery, which initially struggled with securing crude locally, is set to begin producing its own crude before the year runs out, as reported by S&P Global. DON'T MISS THIS: Dangote creates an opening for investors with plans to sell 10% of his refinery shares The Nigerian National Petroleum Corporation (NNPC), right now, supplies Dangote with 14 cargoes of crude oil, or sources, valued at the equivalent of US dollars, under a "crude for naira" swap deal. ADVERTISEMENT In exchange, Dangote receives an equal amount of gasoline and gasoil in local currency, as seen in the Punch. “Dangote’s upstream assets in the Niger Delta, Oil Mining Lease 71 and 72, could soon provide another supply injection, with production expected to start this month and reach up to 40,000 b/d,” the report said. Dangote’s plan to produce crude Dangote had initially set Q4 of 2024 as the timeline to begin crude oil production. The decision to commence oil exploration followed two months of crude supply dispute between Dangote and the Nigerian National Petroleum Corporation (NNPC). Business Insider Africa Markets Leaders Careers Lifestyle Business Insider Africa ADVERTISEMENT local markets Dangote Refinery set to end months of supply struggles soon, with crude production Chinedu Okafor 27 October 2025 10:00 AM The Dangote Refinery’s plan to begin producing its own crude is set to start before the end of the year. U.S. exports more crude to Nigeria than it imports, marking first-ever trade reversal U.S. exports more crude to Nigeria than it imports, marking first-ever trade reversal The Dangote Refinery is set to start crude oil production by the end of the year. Initially relying on local crude supply from NNPC, Dangote faced challenges regarding payment terms and moved to international sourcing. Upcoming production from Oil Mining Leases 71 and 72 in the Niger Delta could reach up to 40,000 barrels per day. The refinery has imported significant quantities of crude due to disputes, despite Nigeria being Africa’s largest oil producer. ADVERTISEMENT Recommended articles World’s first range-extending electric pickup set for South African launch markets World’s first range-extended electric pickup set for South African launch U.S. warns Americans in Tanzania as post-election unrest spreads markets U.S. warns Americans in Tanzania as post-election unrest spreads Dangote says those with more money should try their luck with Nigerian refineries markets Dangote says those with more money should try their luck with Nigerian refineries The Dangote Oil Refinery, which initially struggled with securing crude locally, is set to begin producing its own crude before the year runs out, as reported by S&P Global. DON'T MISS THIS: Dangote creates an opening for investors with plans to sell 10% of his refinery shares The Nigerian National Petroleum Corporation (NNPC), right now, supplies Dangote with 14 cargoes of crude oil, or sources, valued at the equivalent of US dollars, under a "crude for naira" swap deal. ADVERTISEMENT In exchange, Dangote receives an equal amount of gasoline and gasoil in local currency, as seen in the Punch. “Dangote’s upstream assets in the Niger Delta, Oil Mining Lease 71 and 72, could soon provide another supply injection, with production expected to start this month and reach up to 40,000 b/d,” the report said. Dangote’s plan to produce crude Dangote had initially set Q4 of 2024 as the timeline to begin crude oil production. The decision to commence oil exploration followed two months of crude supply dispute between Dangote and the Nigerian National Petroleum Corporation (NNPC). ADVERTISEMENT Dangote refinery Dangote refinery At the time, the organization had insisted on selling crude to the Dangote Refinery in foreign currency, making it more expensive than importing. This forced Dangote to source crude from other markets, including the United States, Brazil, and even African countries like Equatorial Guinea and Algeria, among others. Sourcing crude from other markets despite Nigeria being the largest oil producer on the continent has been the baffling reality of Nigeria’s oil sector. According to the National Bureau of Statistics (NBS), Nigeria spent ₦1.19 trillion on crude oil imports in the first quarter of 2025, making it the country’s third most imported commodity during the period Findings at the time showed that the Dangote Refinery was projected to import 17.65 million barrels of crude oil between April and July 2025. As of March 2025, the refinery had received over three million barrels of U.S. crude in a single month. The back and forth between the Dangote Refinery and Nigerian authorities prompted Dangote to begin exploring the option of producing its own crude. In July, Devakumar Edwin, vice president of Dangote Industries, noted that the refinery will be fully reliant on Nigerian crude by the end of 2025. In the same month, the NNPC reaffirmed its commitment to supplying crude oil to the Dangote Refinery based strictly on commercial and market-driven terms. https://africa.businessinsider.com/local/markets/dangote-refinery-set-to-end-months-of-supply-struggles-soon-with-crude-production/qy43gz5
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shortgun:Some of us have maintained this for ages , the man didn't deserve it , Even Amos Tutuloa deserved it more than him |
Mrchippychappy:Hahahahaha you don make my day with this cartoon 😂😂😂 Shameless 90 year old baby |
symbianDON:WTF 😂😂😂😂😂 |
The US Consulate in Lagos made this clarification on Thursday in response to an inquiry from The PUNCH regarding the revocation of the visa of Nobel laureate, Prof. Wole Soyinka.https://punchng.com/us-defends-soyinkas-visa-revocation/
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Fearyourcreator:Oga we go school pass you |
Just look at |
Everything is remincent of Abacha govt All parties Adopt Abacha Abacha catches potentia coup plotters Abacha starts media Trial of potential coup plotters.. |
deavicky:Again you are living in delusions, mention one west African country lest dig out data and compare and you will be shocked .. Well let's start from shelter , Nigeria already has the highest number of homeless people on earth , so you can see your dont know what you are saying shey
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See how this old boy boy is fooling himself ..man with zero character |
@ ZoomTravels come and see please |
Global Statistics @Globalstats11 Top 25 Countries with the Lowest Life Expectancy 1. 🇳🇬 Nigeria Overall: 54.6 Male: 54.3 Female: 54.9 2. 🇹🇩 Chad Overall: 55.2 Male: 53.4 Female: 57.2 3. 🇸🇸 South Sudan Overall: 57.7 Male: 54.8 Female: 60.8 4. 🇨🇫 Central African Republic Overall: 57.7 Male: 55.5 Female: 59.6 5. 🇱🇸 Lesotho Overall: 57.8 Male: 55.5 Female: 60.4 6. 🇸🇴 Somalia Overall: 59.0 Male: 56.5 Female: 61.5 7. 🇲🇱 Mali Overall: 60.7 Male: 59.3 Female: 62.1 8. 🇬🇳 Guinea Overall: 60.9 Male: 59.7 Female: 59.7 9. 🇧🇯 Benin Overall: 61.0 Male: 59.5 Female: 62.4 10. 🇧🇫 Burkina Faso Overall: 61.3 Male: 59.1 Female: 63.4 11. 🇳🇪 Niger Overall: 61.4 Male: 60.5 Female: 62.4 12. 🇸🇱 Sierra Leone Overall: 62.0 Male: 60.2 Female: 63.7 13. 🇨🇮 Côte d'Ivoire Overall: 62.1 Male: 60.2 Female: 64.3 14. 🇨🇩 DRC (Congo - Kinshasa) Overall: 62.1 Male: 60.0 Female: 64.2 15. 🇱🇷 Liberia Overall: 62.3 Male: 61.0 Female: 63.6 16. 🇳🇷 Nauru Overall: 62.3 Male: 60.4 Female: 64.2 17. 🇹🇬 Togo Overall: 62.9 Male: 62.7 Female: 63.1 18. 🇿🇼 Zimbabwe Overall: 63.1 Male: 60.5 Female: 65.3 19. 🇰🇪 Kenya Overall: 63.8 Male: 61.6 Female: 66.1 20. 🇲🇬 Madagascar Overall: 63.8 Male: 62.1 Female: 65.4 21. 🇧🇮 Burundi Overall: 63.8 Male: 61.8 Female: 65.9 22. 🇲🇿 Mozambique Overall: 63.8 Male: 60.5 Female: 66.7 23. 🇬🇶 Equatorial Guinea Overall: 63.9 Male: 62.2 Female: 65.9 24. 🇨🇲 Cameroon Overall: 64.0 Male: 61.8 Female: 66.2 25. 🇬🇼 Guinea-Bissau Overall: 64.3 Male: 61.8 Female: 66.5 Source: UN World Population Prospects https://x.com/Globalstats11/status/1983814937173688792 |
Factcheck0001:Sharap. There and have small shame 🤡 See the evidence you want https://www.nairaland.com/8548334/comprehensive-record-christian-massacres-nigeria
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Zoomtravel is one of them |
ZoomTravels:Oga silly if you to think some with a brilliant mind like mine can ever be frustrated Advertising, gaming , e commerce and currently working on launching a new we are here coding applications as I talk to you. ..This is all after a career in the oil industry. ..I get pained when I see how these bad leaders destroy sweat of Nigerians , this new thing should have been launched since last year but heavy devaluation set is back for a long time and we are just coming back on track If you know your friend in govt are doing well why did you take your travel agency out , you should have remained here and we if they don't ruin zoom travels for you ... Really wonder what y'all gain supporting people that ruin your life ..You see this Tinubu nothing good will ever come out of him for you in the long run |
Men we are really pushing 40 hian |
ZoomTravels:You are even worse than I thought , didn't even know you are an APC person 😂😂 why should I provide the number of Muslims killed ? Don't you know if I do that this figure will even be higher ? You run a travel agency yet you support bad governance, don't you that industry need high GDP per Capita to work ? |
Should we be using these nuclear plasma jet engines to make aviation cheaper instead of putting them on missiles ? |
Misterone:NNPC OVH is the chief importer so what are you saying? Just give some days and your eyes will b open Is it not Jagaban again? |
ZoomTravels:Which serious person even fetches data from Wikipedia? |
ZoomTravels:I see you love to major is self delusions.. Is this not your Nigeria below , is 7000 deaths not almost 3 times 2000 deaths ? Better remove the log from eyes before you complain about sudans speck
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ZoomTravels:Oga I didn't claim , I used most recent stats , you are the one that typed something....see attached
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casualobserver:The Negative people are the ones reducing you too rubbles , well everyday you are getting older with little to show for it because of bad leaders that keep deceiving you yet you think I am the problem ....Give it a week and we will see the true intentions of this 15 percent levy.. When I told y'all the coastal road was going no where and a trrick to open up private real estate , didn't people like you call me negative? How far with road today ... Again I am telling you this 15 percent has been designed to help importer and you will soon see ...if Dangote Fuel is not 15 percent lower than NNPC next week then you have been deceived again just the same way they decieved you with Band A Band B |
mfm04622:Oga give it some days na ..is it not Tinubu again..giv it some days |
When north used to get more slot than the whole south combined nobody shouted ..there are too many northerners in the customs, the equation needs to be balanced ..Kudos to Tinubu on this |
ZoomTravels:I presented with concrete stat and you say that I am clowning yet you are the one living in delusions.. Our GDP per Capita just 10 years ago was 10 times that of Liberia , in 2014 Liberia GDP per Capita was $381 while ours was above $3000 today they have grown to ,670 while you have reduced to 806 and yet you think you are better off than them ? If not for Dangote refinery our GDP per Capita will be below 600 dollars today .. |
God1000:What's absurd , so other countries can keep testing and improving their nuclear tech while tge US should watch and look ? |
mfm04622:Total lies ..by next week it will be clear |
casualobserver:I hope you know it's the presidents cronies that are actually these importers , it's Oando , Matrix and OVH , all his men ....Tinubu is very crafty so gove it 2 weeks and the true intentions of this will be unveiled , I think this will be a blanket tax taken atve every pump ...they just used this importer thing to douse tension |
gare:He can meet locat deman by two folds , Nigeria doesn't consume more 18 million litres a day , forget the fake figure NNPC uses |