Nigeria lacks enough crude to meet Dangote Refinery demand — Oyedele

Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has said Nigeria does not currently produce enough crude oil to meet the full daily requirement of the Dangote Petroleum Refinery.

According to Daily Post, Oyedele spoke on Friday during Politics Today, explaining that Nigeria must also meet other domestic and export commitments.

“We (Nigeria) are still not at the point where we can give Dangote Refinery 700,000 barrels of crude oil; we don’t have enough to service Dangote Refinery,” he said.

The Dangote Refinery, Africa’s largest single-train refinery, has a nameplate capacity of 650,000 barrels per day.

Oyedele’s comments come amid continued concerns over Nigeria’s crude production capacity and domestic crude supply arrangements.

The Federal Government has also announced a temporary petrol discount at Nigerian National Petroleum Company Limited filling stations, aimed at easing pressure on motorists amid high fuel prices.

The initiative has, however, drawn criticism from opposition figures who questioned its sustainability and argued that short-term relief may not address broader challenges in the downstream petroleum sector.