Our attention has been drawn to media reports alleging that the Dangote Refinery has backtracked by acknowledging that NNPC supplied about 60% of the 50 million barrels we lifted.
To clarify, we have never accused NNPC of not supplying us with crude. Our concern has always been NUPRC’s reluctance to enforce the domestic crude supply obligation and ensure that we receive our full crude requirement from NNPC and the IOCs.
For September, our requirement is 15 cargoes, of which NNPC allocated six. Despite appealing to NUPRC, we’ve been unable to secure the remaining cargoes. When we approached IOCs producing in Nigeria, they redirected us to their international trading arms or responded that their cargoes were committed.
Consequently, we often purchase the same Nigerian crude from international traders at an additional $3-$4 premium per barrel which translates to $3-$4 million per cargo
We therefore still insist that we are unable to secure our full crude requirement from domestic production and urge NUPRC to fully enforce the domestic crude supply obligation as mandated by the PIA.
The Nigeria Customs Service (NCS) has been commended for its pivotal role in boosting…
Operatives of the Nigeria Police Force have reportedly arrested a popular Nigerian TikToker, Seaking, for…
Human rights activist Omoyele Sowore says the economic policies of President Bola Tinubu's administration have…
In a resolute bid to ensure unimpeded traffic flow throughout Lagos State before, during…
In an era defined by rapid technological advancements and unpredictable economic shifts,…
Celebratory seasons, such as Christmas and New Year, are times when corporate organisations churn out…