Energy
CORAN Set 18-Month Deadline To End Fuel Importation
Nigerian based refineries have set an 18-month period within which they will end importation of refined petroleum products into the country, only if the Federal Government would key into their plans.
The Crude Oil Refiners Association of Nigeria (CORAN), noted that there were other refineries at different stages of completion to join the 650,000-capacity Dangote Petroleum Refinery and Petrochemical.
The CORAN’s position, The PUNCH reports, was made public by its Publicity Secretary, Eche Idoko, that the Dangote Refinery and others in the country can satisfy the fuel needs of the nation.
This interesting perspective hit the public while the news waves were being ruled by the Chief Executive of the Nigerian Midstream and Downstream Regulatory Authority (NMDPRA), Farouk Ahmed, shared the perspective that Nigeria would not stop fuel importation, so as to checkmate the Dangote Refinery’s monopoly to ensure Nigeria’s energy security.
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The CORAN’ Publicity Secretary argued that there was no way the government would tackle rising inflation if it did not address the high cost of fuel, especially by working with the local refiners.
In his words, “You can’t tackle inflation if you don’t address the pump price of petroleum products. You cannot say you have a plan to step down inflation and you are not involving the key sectors like the refineries; you have to involve us, let’s work together.
“And CORAN is saying that, in 18 months, if the Nigerian government will work with our programmes and plans, in 18 months, we can stop the importation of petroleum products completely.
“There are refineries in different stages of completion. In 18 months, we can produce what Nigeria will consume.”
According to Idoko, Nigeria has enough crude oil to feed Dangote and other refineries.
He pointed out that crude theft has been the major challenge to the upstream oil sector.
“We have the crude oil to feed these refineries and more fields are being licensed by the day. So, there will be crude to feed the refineries. Our production figure is dropping because of the crude that is being stolen daily.
“When we have local refineries, crude theft will be reduced. People steal crude through the pipelines and most of the refineries are located close to some of these fields. What this does is that the crude oil producers will no longer need to pump their crude through the pipelines to the terminal for export.
“The local refineries will just truck from the fields or get a short pipeline or barge from their fields to these places. We are losing heavily because unscrupulous elements are stealing crude from the long pipelines,” Idoko stated.
In addition, he pointed out that the international oil companies (IOCs) were supposed to sell crude oil to local refineries at a price lower than the international price.
Idoko urged the Federal Government to ensure that crude oil is sold in naira and not dollars, and maintained that this would reduce the cost of fuel production and the pressure on the local currency.
In his view, ending the importation of fuel would strengthen the naira against the dollar, and wants to see the IOCs start selling fuel directly to local refiners instead of referring them to their trading agents in Europe.
Recall that Ahmed had cautioned that Nigeria could not rely heavily on the Dangote refinery for its fuel supply.
According to him, the refinery had requested the regulator to stop giving import licenses to other marketers to be the only fuel supplier in Nigeria.
“We cannot rely heavily on one refinery to feed the nation, because Dangote is requesting that we should suspend or stop importation of all petroleum products, especially AGO and direct all marketers to the refinery, that is not good for the nation in terms of energy security. And that is not good for the market, because of monopoly,” Ahmed stressed.
However, the President of Dangote Group, Aliko Dangote, denied the allegation, wondering how he could be a monopoly when the Nigerian National Petroleum Company Limited (NNPC Ltd) was renovating government-owned refineries with $4bn.
Biztellers reports that several prominent figures and associations including the President of the African Development Bank Group (AfDB), Akinwumi Adesina; billionaire businessman, Femi Otedola; federal lawmakers; former Vice President and 2023 presidential candidate of the Peoples Democratic Party (PDP), Atiku Abubakar; former Anambra State governor and 2023 Labour Party presidential candidate, Peter Obi.
Others speaking up for Dangote include the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA); the Manufacturers Association of Nigeria (MAN), have all voiced their support for the Dangote Refinery, and the Pragmatic Shareholders Association of Nigeria (PSAN).
On his part, the President of Dangote Group, Alh Aliko Dangote had decried the alleged refusal of the IOCs to supply crude to his refinery, in addition to regulatory highhandedness.
According to Dangote, his refinery would begin the supply of petrol between August 10 and 12.
It was gathered that the refinery might resort to exporting its Premium Motor Spirit (PMS) also known as petrol unless the regulators and operators of the Nigerian market show required cooperation.
The Shell Nigeria Exploration and Production Company Limited (SNEPCo) has completed the turnaround maintenance on the Bonga Floating Production, Storage and Offloading (FPSO) vessel, leading to resumption of production at Nigeria’s premier deepwater field on March 6, 2026.
Biztellers reports that the project was delivered 11 days ahead of schedule and without any safety incident, reinforcing SNEPCo’s longstanding commitment to operational excellence and asset integrity.
“Completing the turnaround safely and ahead of schedule is a testament to the dedication and professionalism of our Nigerian workforce and the helpful support of our partners,” SNEPCo Managing Director Ronald Adams said. “The achievement not only secures the long‑term integrity of the Bonga FPSO but also positions us strongly for the successful delivery of the Bonga North project, which will leverage the improved reliability of the FPSO.”
The exercise which began on February 1, 2026, highlights SNEPCo’s leading role in advancing deep‑water expertise in Nigeria. Of the 55 companies involved in the execution, 43 were wholly Nigerian. Additionally, eight of the 12 international service providers maintain operational bases in Nigeria, contributing to knowledge transfer and increased local investments.
More than 1,000 personnel worked offshore during the turnaround, with over 95% being Nigerians involved in maintenance, engineering, operations, inspection and construction. Thousands more supported activities from onshore locations, reflecting the depth of Nigerian capability in offshore oil and gas operations.
Adams added: “We acknowledge the support of several stakeholders towards the successful execution of the exercise, including the NNPC Upstream Investment Management Services (NUIMS), the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), the Nigerian Content Development and Monitoring Board (NCDMB) and our partners.”
Modupe Asudo
Sahara Group, a leading global energy and infrastructure conglomerate, has commissioned MT Asharami Ghana, a 40,000‑cubic‑metre Liquefied Petroleum Gas (LPG) carrier, expanding its fleet capacity, while strengthening Ghana’s clean energy supply chain and LPG distribution network.
The dual‑fuel vessel improves operational efficiency, enhances supply reliability, and supports lower‑emission LPG logistics as consumption grows across Ghana and the wider sub‑region.
Ghanaian President Mahama and Sahara Executive Directors
Speaking at the commissioning in Ulsan, South Korea, President John Dramani Mahama described the vessel as “a significant milestone in strengthening the infrastructure that underpins the global LPG supply chain,” noting that expanded shipping capacity is critical to improving supply security, reliability and efficiency for countries that rely partly on LPG imports.
He commended Sahara Group, WAGL Energy and all partners involved for their “leadership, technical expertise and strategic foresight,” adding that the project reflects “the power of partnership” in advancing safe, efficient, and responsible energy distribution.
President Mahama wished the MT Asharami Ghana safe sails, expressing confidence that the vessel would inspire further investment and collaboration across Africa’s energy value chain.
According to Wale Ajibade, Executive Director, Sahara Group, the vessel supports Ghana’s clean energy ambitions through integrated infrastructure.
“MT Asharami Ghana is more than a vessel; it is part of a deliberate strategy to strengthen LPG supply security and support Ghana’s clean energy ambitions. It secures an additional 25,000-Metric-tonne stock security for the Ghana economy, alongside the soon to be commissioned 6000-metric-tonee of 12.000-metric-tonne land storage in Tema,” he said.
With the addition of Asharami Ghana, Sahara Group’s LPG carrier fleet now comprises six delivered vessels with a combined capacity of 202,000 cubic metres. Supported by partnerships with WAGL Energy, NNPC Limited and other stakeholders, an additional 270,000 cubic metres of capacity is under construction and due for delivery by September 2028.
Temitope Shonubi, Executive Director, Sahara Group, said Asharami Ghana is part of Sahara’s integrated LPG infrastructure strategy spanning shipping, storage, and downstream distribution globally, including the development of a 12,000‑metric‑tonne land‑based LPG storage terminal in Tema, with a 6,000‑metric‑tonne first phase scheduled for completion in May 2026.
He thanked Yaa Serwaa Alifo, MD of Asharami Ghana, for her resilience and insistence to dedicate a ship of “this magnitude solely to the Ghana Market and its landlocked neighbours.”
Ghana is targeting LPG adoption of 50 per cent of households by 2030, up from about 30 per cent today. Sahara’s investments will support clean energy access for more than 35 million people, while strengthening Ghana’s role in regional LPG trade to neighbouring and landlocked West African markets.
The commissioning comes in Sahara Group’s 30th anniversary year, guided by the Sahara Beyond XXX milestone, underscoring Sahara’s focus on building an enduring enterprise that delivers responsible growth, shared prosperity and long‑term impact across its markets.
Nigeria’s crude oil production dropped to 1.31 million barrels per day in February, even as local refineries continue to grapple with inadequate domestic crude supply needed to sustain operations.
The development shows that Nigeria again failed to meet its crude oil production quota of 1.5 million barrels per day approved by the Organisation of the Petroleum Exporting Countries (OPEC), as output declined sharply in February 2026.
Data from OPEC’s latest Monthly Oil Market Report, based on direct communication from member countries, showed that Nigeria produced 1.314 million barrels per day in February, down from 1.459 mbpd recorded in January.
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The figures indicate a month-on-month decline of 146,000 barrels per day, widening the country’s shortfall from its OPEC production allocation.
Nigeria’s inability to meet its OPEC production quota is not only affecting its oil export earnings but also adversely impacting domestic refineries that are starved of feedstock for their operations.
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