10/03/2026
Lots of things to know.
1. Dangote is assigned maximum of 385k barrels per day by Nnpc whereas he needs 650k bpd. This means that Dangote imports the balance .
2. Dangote usually get sometimes 61k bpd , less than 100k bpd from nnpc. So he imports even more than what he should import.
3. Even the little quantities he gets from nnpc is sold to him at international price. The only difference is that he can pay in naira. That means , if crude oil is selling at international market at 100 usd, dangote will pay naira equivalent of 100usd to nnpc. So its not coming cheaper.
4. So because of the war in middle east, crude oil price is going up and so Dangote is paying higher amount to nnpc per barrel of crude which is equivalent of what he can pay in international market. The only difference is that he pays in naira.
Bottomline, the war affects the price of his feed stock
BREAKING: Dangote Refinery Raises Petrol Price To N1,175 Per Litre In Third Hike Within A Week
Full story in the comments section
