The CEO of Dangote Refinery, David Bird, says the refinery is not getting enough crude oil from the Federal Government as agreed.
He explained that instead of receiving about 13 to 15 shipments of crude oil every month, the refinery currently gets only five. This shortage is making it harder for the refinery to meet Nigeria’s fuel needs.
Because of this gap, the refinery has to buy crude oil from outside the country at higher prices. Bird said this means Nigeria is losing money to foreign traders.
He also clarified that the crude-for-naira policy is not meant to benefit the refinery, but to help stabilise Nigeria’s foreign exchange.
Despite the challenges, the refinery is still running at full capacity. However, rising global tensions, especially in the Middle East, are increasing costs like shipping and insurance.
Bird called on the government to supply more crude oil and plan better to ensure stable fuel supply in the country.
