More

    Dangote Refinery Set to End Crude Oil Imports by December 2025

    The Dangote Petroleum Refinery has revealed plans to fully transition to sourcing crude oil locally by December 2025, effectively ending its reliance on imported crude.

    According to a Bloomberg report, Devakumar Edwin, Vice President of Dangote Industries, stated that the 650,000 barrel-per-day Lagos-based facility has already begun reducing its foreign crude intake. 

    In June, 53% of its supply came from Nigerian producers, while the remaining 47% was imported from the United States.

    The refinery, commissioned in May 2023, has previously sourced crude from countries like Brazil, Angola, Ghana, and Equatorial Guinea. 

    Edwin noted that improving relationships with local oil traders and government agencies has created a pathway for a sustainable domestic supply.

    “We expect some of the long-term contracts with foreign suppliers will expire. Before year-end, we plan to transition 100% to Nigerian crude,” Edwin said.

    Currently processing around 550,000 barrels per day, the refinery has arranged to receive five crude cargoes from the Nigerian National Petroleum Company (NNPC) in both July and August, each containing nearly one million barrels.

    Aliko Dangote, the refinery’s founder, built the $20 billion facility to end the cycle of exporting Nigeria’s crude only to reimport refined products at high costs. 

    The refinery’s gradual production ramp-up is already positioning Nigeria as a net exporter of petroleum products.

    Despite initial challenges in meeting local crude demand, which prompted a heavy reliance on U.S. supply, the outlook now appears favourable, with more local oil expected in the coming months.

    Sources: https://www.channelstv.com/2025/07/09/dangote-refinery-to-end-crude-imports-by-december-report/

    Image Credit: Neusroom

    Sign up for our free Daily newsletter

    We'll be in your inbox every morning Monday-Saturday with top business news, inspiring stories, best advice and exclusive reporting from Entrepreneur.

    Related Posts

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    Latest

    From Sketch to Sales: Turning Fashion Creativity into a Profitable Brand.

    From Sketch to Sales: Turning Fashion Creativity into a Profitable Brand.

    Ethiopia’s Capital Market Gains Three New Licensed Firms as Sector Deepens.

    Ethiopia’s Capital Market Gains Three New Licensed Firms as Sector Deepens.

    The Conversations You Have With Yourself Matter Most.

    The Conversations You Have With Yourself Matter Most.

    Hilda Moraa Put Kenyan Fintech on a Global Stage and she is not slowing down.

    Hilda Moraa Put Kenyan Fintech on a Global Stage and she is not slowing down.

    Nigeria’s Financial System Set for N3.12 Trillion Liquidity Boost This Week.

    Nigeria’s Financial System Set for N3.12 Trillion Liquidity Boost This Week.