The President of the Dangote Group, Aliko Dangote, says his 650,000-barrel capacity refinery is “increasingly” relying on the United States for crude oil.
This came as findings showed that the Dangote Petroleum Refinery is projected to import a total of 17.65 million barrels of crude oil between April and July 2025, beginning with about 3.65 million barrels already delivered in the past two months, amid ongoing allocations under the federal government’s naira-for-crude policy.
Dangote informed the Technical Committee of the One-Stop Shop for the sale of crude and refined products in naira initiative that the refinery was still battling crude shortages, which had led it to resort to imports from the United States.
In a statement from the firm on Thursday, Dangote stated this when the Coordinator of the OSS Technical Committee, Mrs Maureen Ogbonna, led a delegation to the refinery, which she described as a breath of fresh air, impacting virtually every sector of the economy.
According to the statement, Dangote applauded the technical committee for its role in supporting the implementation of President Bola Tinubu’s laudable naira-for-crude initiative.
He commended the positive impact of the naira-for-crude swap deal on the Nigerian economy, noting that it has led to a reduction in petroleum product prices, eased pressure on the dollar, and ensured the stability of the local currency, among others.
“However, he noted that due to a shortage of domestic crude oil, the refinery has increasingly relied on imports from the United States to meet its needs in recent months,” the statement read partly.
TheEconomy recalls that the refinery has been importing more cargoes of WTI in its bid to ramp up production. So far this year, US crude has accounted for a third of the purchases of the Dangote refinery, according to vessel-tracking data compiled by Bloomberg. A large part of the American crude feeding Nigeria’s refinery is the WTI Midland grade, the data showed.
Dangote stressed the importance of bold investment in strategic sectors as a key to industrialization, revealing that building the refinery required extensive infrastructure development, including a world-class, self-sufficient marine facility capable of accommodating the largest vessels globally. He assured the delegation of the refinery’s commitment to national development.
Speaking, the Coordinator of the OSS Technical Committee, Ogbonna, hailed the $20bn facility as a symbol of the industrial revolution, driving Nigeria’s economic emancipation.
“This refinery touches all our lives. There’s scarcely any sector unaffected. From pharmaceuticals to construction, food to plastics, this project is transformational. God has used the President of the Dangote Group to liberate Nigeria. I see this as the beginning of an industrial revolution,” she said.
She noted that, in line with Tinubu’s vision of achieving full domestic sufficiency in petroleum products and positioning Nigeria as a major global exporter, the committee was committed to eliminating regulatory, operational, and logistical barriers that hinder the smooth supply and sale of domestic crude oil and refined products in naira.
Reflecting on the scale of the facility, Ogbonna added, “It is truly mind-blowing that one man could envision and execute such a project. As we toured the refinery, we thought we had seen everything until we reached the laboratory. That lab alone is an institution. I don’t know of any institution in Nigeria or even globally that boasts such a laboratory for petrochemicals.”
Ogbonna urged Dangote to remain focused and undeterred by detractors, emphasising that the project is a global achievement, not a personal enterprise.
“We feel truly honoured to have been warmly received by the President of the Dangote Group and his team. My advice to him is: do not be discouraged by critics. He was never self-centred. Despite the obstacles, he was driven by a vision for Nigeria’s future, reaching far beyond Africa,” she added.
The statement concluded that the refinery was designed to process a wide range of crude types, including African and Middle Eastern grades as well as US Light Tight Oil. “The refinery can meet 100 per cent of Nigeria’s domestic demand for petrol, diesel, kerosene and aviation jet fuel, with a surplus available for export,” the company reiterated.
Our correspondent further gathered that the refinery is projected to receive a total of 17.65 million barrels of crude oil between April and July 2025, beginning with about 3.65 million barrels already delivered in the past two months.
The refinery has started receiving crude allocation of the planned nine million barrels in June and is awaiting another five million barrels in July, with the lion’s share of it being the grade West Texas Intermediate – Midland from the United States.
The crude import is part of the refinery’s push to reach a full operational capacity of 650,000 barrels per day and intensified efforts to secure a steady supply of crude oil, including sourcing from international markets. While the refinery has historically sourced crude from countries like Brazil, Angola, and Libya, imports from the US now dominate.
Findings by one of our correspondents, based on recent data obtained from the Tanker Position Report compiled by maritime tracking firm Blue Sea Maritime, showed that 21 oil vessels berthed at ports in Lagos between April 6 and May 28, 2025.
These ships delivered a total of 3,652,214 barrels of crude oil to the $20bn refinery, owned by Africa’s richest man, between April and May. It also plans to receive nine million barrels from the same source in June and five million barrels in July.
Data showed that imports from the US have surpassed allocations received from domestic crude producers in recent months. A breakdown showed that the refinery has moved from total dependence on Nigerian crude in December 2024 to importing 27.1m barrels of crude from the US in seven months. This is compared to 46.2 million barrels obtained from the government within the same period.
