11/09/2026
DANGOTE BUYS 16 MILLION BARRELS OF NIGERIAN CRUDE FOR OCTOBER
Dangote Refinery has secured at least 16 million barrels of Nigerian crude oil for October delivery, equivalent to about 520,000 barrels per day, according to Reuters.
NNPC is expected to supply eight Nigerian cargoes as part of the refinery’s crude requirements.
The development comes as global oil prices remain elevated, making Nigeria’s crude particularly valuable on the international market.
But there is an interesting economic trade-off.
More Nigerian crude going to local refining could strengthen domestic fuel production and reduce dependence on imported petroleum products. At the same time, it means fewer barrels may be available for export when international crude prices are high.
So the bigger question is:
Should Nigeria prioritise refining more of its crude at home or selling more of it on the international market when prices are high?
And ultimately, will increased local refining translate into more reliable and affordable fuel for ordinary Nigerians?
👇 What do you think?
Eastern Sun News
Reporting the East. Understanding Nigeria. Watching Africa.