No more fuel importation _ NNPCL

The Nigerian National Petroleum Company Limited (NNPCL) has announced that it has ended its long-standing practice of importing refined petroleum products. Instead, it is now sourcing fuel from local refineries, including the Dangote Petroleum Refinery.

Mele Kyari, the NNPCL Group CEO, made the announcement on Monday at the Nigerian Association of Petroleum Explorationists conference in Lagos. He confirmed that the NNPC no longer imports fuel, but instead purchases it exclusively from domestic refineries.

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Kyari also highlighted NNPC’s part-ownership of the Dangote refinery, explaining that the company saw a clear business opportunity in supplying crude oil to local refineries, anticipating that as global oil production increases, the market will become more competitive. He emphasized that the decision to supply crude to domestic refineries, including Dangote’s, was a strategic business move that NNPC was already executing, without needing external pressure or persuasion.

Regarding the push to domesticate oil refining in Nigeria, Kyari described Nigerian crude as “Lamborghini crude,” meaning that the refined products are naturally more expensive. He also pointed out that some international dealers mix Nigerian crude with lower-quality fuel to cut costs.

Additionally, members of the Independent Petroleum Marketers Association of Nigeria (IPMAN) have reached an agreement with Dangote Group to purchase refined petroleum products directly from the Dangote Refinery. IPMAN’s National President, Abubakar Garima, announced that this partnership would ensure a steady and affordable supply of fuel across the country.