NEWS
Middle East Crisis Forces DPRP to Buy More Crude Locally
The raging US-Iran war which has continued to put pressure on the global oil markets has compelled refiners and traders to rethink traditional supply routes.
Consequently, the Dangote Petroleum Refinery & Petrochemicals (DPRP), has increased its sourcing of crude oil from Nigeria.
The development is providing support for Nigerian crude grades while reinforcing the country’s push to process more of its oil domestically. It comes amid shipping and cargo delivery records that revealed a total of 1.83 million metric tonnes of crude oil from Nigerian production streams in May 2026.
The deliveries, made through the refinery’s offshore Single Point Mooring terminals, SPM-C1 and SPM-C2, involved 15 crude cargoes sourced from some of Nigeria’s biggest oil-producing assets. The crude grades supplied to the facility included Qua Iboe, Bonny Light, Bonga, Forcados, Utapate, Okwori and Odudu.
The increased reliance on domestic feedstock underscores the growing role Nigerian crude is playing in sustaining operations at Africa’s largest refinery at a time of heightened uncertainty in the international oil market.
According to Bloomberg, the DPRP has stepped up purchases of Nigerian crude as overseas buyers scale back acquisitions of some West African grades amid concerns over Middle East oil supplies.
The shift has reportedly helped strengthen premiums for Nigerian crude relative to Angolan grades, highlighting how geopolitical tensions are beginning to reshape long-established trading patterns.
The report read, “Nigeria’s massive Dangote refinery is boosting purchases of the country’s crude, helping to stem waning demand for grades from West Africa in light of uncertainty over the resumption of oil shipments from the Middle East.
“Dangote’s ramp-up in buying has boosted the price of Nigerian crude grades compared with those from Angola. The two countries make up the backbone of West Africa’s oil market but have seen premiums for their physical crude grades take different directions as the Iran war drags on.”
Beyond the immediate effect on crude pricing, the trend reflects a deeper transformation within Nigeria’s oil industry.
For decades, Nigeria exported most of its crude oil while depending heavily on imported refined petroleum products to meet domestic demand. The establishment of the $20bn DPRP was intended to reverse that trend by creating sufficient local refining capacity to process a significant share of the country’s crude output.
Now, with global energy supply chains under pressure from the Iran conflict and concerns over the security of key shipping routes, the refinery is emerging as one of the largest domestic buyers of Nigerian crude.
The development could help retain more value within the Nigerian economy through increased local processing while reducing the country’s exposure to volatile international fuel markets.
The refinery’s growing appetite for Nigerian crude comes at a time when it is expanding its operational capacity. Earlier this month, the company announced that it had processed 700,000 barrels of crude oil per day during a performance test, surpassing its official nameplate capacity of 650,000 barrels per day.
The feat marked the first time the facility had exceeded its installed capacity and further cemented its status as the largest refinery on the African continent. The company is also seeking to raise approximately $1bn through a private placement ahead of a planned public listing, in a move expected to value the business at about $39.1bn.
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In addition, the refinery’s influence is increasingly extending beyond Nigeria’s borders. Exports of petrol, diesel and aviation fuel from the facility have expanded across African markets and into other international destinations, helping to reduce the continent’s dependence on fuel imports from Europe and the Middle East.
Panic broke out in Kubwa, Abuja, on Sunday after a vehicle crashed into a gas dispensary outlet at Liberty Junction on Arab Road, triggering a fire.
According to eyewitness accounts, the vehicle was travelling from Arab Road towards Liberty Junction when it reportedly lost control following a brake failure.
The vehicle subsequently skidded off its lane, crossed the road and plunged into the gas station, resulting in a fire outbreak.
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The fire was quickly brought under control following a coordinated response by operatives of the Federal Fire Service, FCT Fire Service and the National Emergency Management Agency (NEMA).
The occupants of the vehicle were rescued unhurt by passers-by and witnesses who responded to the incident.
However, several makeshift shops adjoining the gas outlet were destroyed in the fire.
The prompt intervention of the emergency responders helped to curtail the spread of the fire and prevent further damage.
Financial expert Nnaemeka Onyeka Obiaraeri has defended former Anambra State Governor Peter Obi against comparisons with former Akwa Ibom State Governor Godswill Akpabio, citing what he described as differences in the financial records of the two states during their respective tenures.
Obiaraeri made the remarks in a post on X on Sunday while responding to comparisons involving the two former governors.
According to him, Akwa Ibom State, under Akpabio between 2007 and 2015, received an estimated ₦2.06 trillion, which he said was equivalent to about $15.5 billion at the time.
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He further claimed that the amount would be worth more than ₦21.7 trillion in today’s naira value.
Obiaraeri wrote: “AKWA IBOM STATE, UNDER GODSWILL AKPABIO, 2007 TO 2015…..
“Between 2007 and 2015, during the administration of Governor Godswill Akpabio, the Akwa Ibom State Government received an estimated total revenue of approximately ₦2.06 trillion/$15.5billion…..
“In today’s naira value, Akwa Ibom under Akpabio received over N21.7trillion.”
He also claimed that Akpabio left loan obligations of $334 million, which he put at about ₦467 billion.
Obiaraeri further alleged that there were multiple EFCC files concerning Akpabio, claiming that they documented financial misconduct during his tenure.
Turning to Anambra, Obiaraeri said the state received approximately $4.06 billion, or ₦525 billion, during Peter Obi’s tenure as governor from March 14, 2006, to March 14, 2014.
He wrote: “ANAMBRA STATE UNDER PETER OBI MARCH 14, 2006 TO MARCH 14, 2014
“Total funds and revenues received by Anambra state under Peter Obi was $4.06billion/N525billion.
“In today’s naira term is N5.4trillion.”
According to Obiaraeri, Peter Obi left behind $156 million in savings invested in an investment that generated more than $43 million, bringing the total to $199.8 million.
He added that the figure amounted to approximately ₦279 billion in today’s naira value.
Obiaraeri also claimed that more than ₦36 billion, which he equated to about $240 million, was held in Treasury Bills and other short-term naira investments.
He wrote: “However, Peter Obi left behind a total savings of $156million in an investment that yielded over $43m totaling $199.8m/N279billion in today’s naira money and over N36bn/$240m in treasury bills and other short term naira investments.”
Defending the former Anambra governor against allegations of corruption, Obiaraeri stated: “Peter Obi did not loot a kobo of Anambra monies. HE HAS NO EFCC OR FBI FILES OF CRIMINALITY ON HIM….”
He also compared Obi with other governors who served around the same period, “The Only Governor in the league of PO during his time was Raji Fashola …… Anyway, I am not surprised at some of you, who do this baseless comparison…The difference between LIGHT and Darkness is so clear to DECENT men, who love LIGHT….
“THOSE WHO ARE ROGUES, AND ASPIRING ROGUES, USUALLY LOVE DARKNESS….THEIR HEART IS DARKENED AND MIGRATE TOWARDS DARKNESS ALWAYS.”
He said ‘This is the verdict: Light has come into the world, but people loved darkness instead of light because their deeds were evil’.”
He then directly addressed those comparing the two former governors, stating: “I PUT IT TO YOU, who is mischievously comparing Apostle Peter to YOUR BARABASSES, that you are EVIL…QED.”
Former Anambra State Governor and presidential candidate, Peter Obi, has questioned President Bola Tinubu’s continued absence from the United Nations General Assembly, contrasting it with Ghanaian President John Dramani Mahama’s participation in the 81st UNGA.
Obi raised the question in a post on X on Sunday, while reacting to Mahama’s address at the global gathering.
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The former presidential candidate wrote: “The dynamic President of Ghana, John Dramani Mahama, delivered a remarkable address at the 81st United Nations General Assembly. The international community has commended his leadership and the substance of his address.
“It is a reminder of what leadership can produce when competence, capacity, compassion, commitment and character come together in the service of a nation.”
Obi then drew attention to Nigeria’s absence at the presidential level, asking why Tinubu had not attended the global gathering.
He wrote:
“Against this background, many are asking: Where is the President of Africa’s most populous nation, a country of more than 200 million people – more than Ghana – whose leader has been absent from the global stage for three consecutive UNGAs?
“Nigeria’s President, who ought to be representing the country and providing leadership for Africa at the international level, has not attended any of these three global gatherings. Where is he, particularly at a time when the country faces significant challenges, both domestically and internationally?”
Obi acknowledged that Vice President Kashim Shettima was present at the UNGA but maintained that questions remained over the President’s absence.
He stated: “Although our Vice President, Kashim Shettima, was present, the question remains: Where is the President?
“Let us continue to pray for his return and for his leadership in addressing the many challenges confronting the nation.”
Obi ended the post with his familiar political message:
Tinubu did not attend the 81st UNGA, with Shettima representing Nigeria at the gathering.
The President’s absence marks his third consecutive non-attendance at the UN General Assembly after he also did not personally attend the 79th and 80th sessions.
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