Nigeria cannot yet provide the Dangote Petroleum Refinery with the 700,000 barrels of crude oil it requires each day because national production remains insufficient, Finance Minister and Coordinating Minister of the Economy Taiwo Oyedele has said.
Oyedele said the country has not reached output levels high enough to fully meet the refinery’s crude requirements while also covering its other domestic obligations and export commitments. “Nigeria has not yet reached the stage where it can supply Dangote Refinery with 700,000 barrels of crude. We do not have sufficient volumes to meet the refinery’s needs,” he said.
The minister made the remarks on Friday during an appearance on Channels Television’s Politics Today programme.
His comments add to continuing concerns about Nigeria’s oil-production capacity and the availability of feedstock for the Dangote Refinery, Africa’s biggest single-train refining facility. The refinery has a nameplate processing capacity of 650,000 barrels per day, underscoring the scale of the crude supply challenge facing the country’s refining ambitions.
The issue emerges as the Federal Government has unveiled a 30-day petrol price discount at filling stations operated by the Nigerian National Petroleum Company Limited, or NNPCL. The measure is intended to offer temporary support to motorists and other fuel users as petroleum-product prices remain high.
The government said the reduction would remain in force for 30 days, prompting questions over its likely effect on retail fuel prices and whether it will deliver meaningful relief for households facing rising transport fares and broader living costs.
Opposition figures have also criticised the timing and durability of the initiative, arguing that a brief reduction in petrol prices is unlikely to resolve deeper structural problems in Nigeria’s downstream petroleum industry.
