Business
NNPC Ltd Delivers over 1bn Barrels to Dangote in April
There are indications from the trading arm of the Nigerian National Petroleum Company Limited (NNPC Ltd) that crude supplies to the Dangote Oil and Gas Company Limited (DOGC) in April 2026, increased to more than 1.03 million metric tonnes, equivalent to about 6.8 million barrels or over 1.08 billion litres.
An analysis of tanker vessel movements obtained by The PUNCH on Tuesday shows that the deliveries were executed through eight crude cargoes handled by NNPC Trading, reinforcing the state oil firm’s role as a major feedstock supplier to the 650,000 barrels-per-day Dangote refinery.
The shipments, sourced from key Nigerian crude streams including Anyala, Bonga, Odudu, Forcados, Qua Iboe, and Utapate, were routed through the refinery’s Single Point Mooring systems, SPM-C1 and SPM-C2.
The document shows that out of the eight cargoes, five have been fully discharged, while three others are still awaiting berthing or completion, indicating a steady pipeline of crude inflows into the refinery.
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This development comes amid the refinery’s continued complaints of supply inadequacies, with a total requirement of 19 cargoes monthly, and a recent report that the country imported 55.39 million barrels in January and February 2026.
A breakdown of the deliveries showed that Sonangol Kalandula initiated the supply chain, delivering 123,000 metric tonnes of crude from Anyala. The vessel arrived on April 5, berthed on April 8, and sailed on April 9.
This was followed by Advantage Spring, which supplied 128,190 metric tonnes from Bonga, arriving on April 11 and completing discharge by April 13.
Similarly, a vessel code-named Barbarosa delivered 125,000 metric tonnes from Odudu, while Sonangol Njinga Mban transported 129,089 metric tonnes from Bonga.
Another completed shipment, handled by Nordic Tellus, brought in 139,066 metric tonnes from Forcados, completing discharge on April 17.
However, three additional cargoes remain in progress. Advantage Sun, carrying 142,327 metric tonnes from Bonga, has arrived but is yet to berth. Also pending are Advantage Spring from Utapate with 120,189 metric tonnes, and Sonangol Kalandula from Qua Iboe with 126,471 metric tonnes.
In total, the NNPC Trading cargoes account for 1,033,332 metric tonnes of crude, underscoring what industry analysts describe as a “strong and sustained supply commitment” to the Dangote refinery.
Further findings show that, beyond crude deliveries, the Dangote refinery also received multiple shipments of refined products and blending components from international markets during the period.
Among them, Seaways Lonsdale delivered 37,400 metric tonnes of blendstock gasoline from Immingham, United Kingdom, handled by Vitol, between April 18 and 19.
Another vessel, Augenstern, supplied 37,125 metric tonnes of Premium Motor Spirit from Lavera, France, discharging between April 8 and 9.
From Norway, Emma Grace brought in 37,496 metric tonnes of PMS from Mongstad, while LVM Aaron delivered 36,323 metric tonnes from Lome, Togo.
Similarly, Egret discharged 35,498 metric tonnes of naphtha from Rotterdam between April 16 and 18, providing critical feedstock for gasoline blending.
A pending shipment, Mont Blanc I, carrying 36,877 metric tonnes of blendstock gasoline from Antwerp, Belgium, is yet to berth, while Aesop is expected to deliver 130,000 metric tonnes of residue catalytic oil from Singapore later in April.
In addition to NNPC Trading volumes, other crude cargoes from international and domestic traders also supported refinery operations.
Notably, Yasa Hercules delivered 273,287 metric tonnes of crude from Corpus Christi, United States, while Front Orkla brought in 264,889 metric tonnes from Ingleside, US.
A major cargo, Navig8 Passion, supplied 496,330 metric tonnes of crude from Cameroon, highlighting regional supply integration.
Domestic contributions included Harmonic, which delivered nearly 993,240 barrels from Ugo Ocha, and Aura M, which supplied 1 million barrels from Escravos, alongside an additional 651,331 barrels of cargo from Anyala.
Operational data indicate that most vessels berthed within one to two days of arrival and departed shortly after discharge, suggesting improved efficiency at the refinery’s offshore terminals.
The Dangote refinery, located in Lekki, Lagos, is Africa’s largest single-train refinery, with a nameplate capacity of 650,000 barrels per day.
The facility is expected to significantly reduce Nigeria’s dependence on imported petroleum products by refining domestic crude and supplying petrol, diesel, aviation fuel, and other derivatives to the local market.
NNPC Limited, through its trading arm, has remained a central player in supplying crude to the refinery under evolving commercial arrangements, amid ongoing reforms in Nigeria’s downstream oil sector.
Earlier this month, Africa’s richest man and President of the Dangote Group, Aliko Dangote, revealed in a report by Bloomberg that the refinery received 10 cargoes of crude oil from the state-owned oil firm in March, compared to an average of about five cargoes monthly since late 2024.
Dangote said the shipments included six cargoes paid for in naira and four in dollars, under the crude supply arrangement between the refinery and the NNPC.
“Nigeria doubled crude supply to Dangote Refinery in March as Africa’s top oil producer moved to shore up fuel availability after the Iran war disrupted Middle East shipments. Last month, they gave us six cargoes with payments in naira and four cargoes with payments in dollars,” he stated.
Business
Dangote Identifies Power, Financing as Possible Keys to Africa’s Industrial Revolution
Africa’s ambition of becoming a global industrial powerhouse hinges on its ability to mobilise long-term financing, deliver reliable electricity and adopt policies that turn its vast natural resources into manufactured products.
The President/Chief Executive, Dangote Industries Limited, Aliko Dangote expressed these views in London at the Financial Times Africa Summit during a conversation with David Pilling the Africa Editor of the newspaper.
Dangote, who has outlined a $50 billion investment programme for 2026 to 2030, said the continent must build stronger financial institutions capable of funding large-scale industrial projects, expand electricity infrastructure and establish policies that encourage domestic manufacturing, value addition and economic diversification.
The industrialist maintained that Africa possessed the natural resources, population and investment opportunities required to become a global manufacturing powerhouse, but needed stronger institutions and infrastructure to translate those advantages into sustainable economic prosperity.
Responding to a question on why Africa had produced relatively few industrial enterprises of global scale despite its enormous economic potential, Dangote stressed the need for deliberate policies and institutions capable of supporting long-term industrial investment.
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The Africa Summit by the FT is a prestigious platform for Africa’s most influential leaders and this year’s Summit lived up to its billing convening leading policymakers, business leaders, financiers and visionaries to explore how Africa can contribute meaningfully to shape the next era of global development.
Dangote said, “I think the number one thing that the continent has to concentrate on doing is having very strong financial institutions, their own financial institutions, and also to have very strong agricultural policy, and also industrial policy”.
He maintained that infrastructure development was equally important but singled out electricity as perhaps the most urgent requirement for unlocking Africa’s industrial potential, adding; “For Africa, what we need the most today is actually power,” he declared.
Dangote explained that inadequate electricity supply continued to undermine Africa’s ability to process its mineral resources locally, forcing countries to export raw materials rather than capture the greater economic value associated with manufacturing and processing. He cited the mining industry as a particularly striking example, noting that companies frequently identified unreliable electricity supply as a major reason for their inability to establish processing facilities close to extraction sites.
According to him, approximately 650 million Africans remain without access to electricity, a deficit he described as fundamentally incompatible with the continent’s industrial ambitions.
He argued that resolving the power crisis would transform Africa’s manufacturing prospects, encourage investment in mineral processing and create substantial employment opportunities.
The industrialist also drew on his experience developing the Dangote Petroleum Refinery and Petrochemicals (DPRP) in Lagos to illustrate how Africa’s financing environment could frustrate even commercially promising projects.
He disclosed that the Group had been compelled to finance the refinery against its own balance sheet rather than depend on conventional project financing, which he described as extremely difficult to secure for major African industrial investments.
He explained that prolonged financing negotiations could undermine the viability of industrial projects by delaying execution, increasing costs and exposing investors to changing economic conditions.
For the Dangote Group, the decision to proceed with the refinery without conventional project finance involved extraordinary financial risks, compounded by severe currency depreciation and the enormous cost of developing supporting infrastructure. Dangote said the exchange rate moved from approximately ₦136 to the dollar to as high as ₦1,800 during the refinery’s development, while about 90 percent of the Group’s revenue was denominated in naira.
Dangote said the Group’s proposed $50 billion investment programme was designed partly to encourage other Africans to recognise the opportunities available across the continent.
“The legacy we are trying to set up is how do we industrialise our continent?” he said.
He explained that the Group intended to expand its investments between 2026 and 2030 to demonstrate that African businesses could execute large-scale projects and encourage other investors to participate in developing the continent. The ambition, he stressed, extended beyond the growth of one conglomerate to creating a wider industrial ecosystem capable of supporting businesses, generating employment and retaining more economic value within Africa.
Dangote also challenged African governments to reconsider their approach to industrial protection, warning that allowing cheap imported products to undermine domestic manufacturing could permanently weaken the continent’s productive capacity. He argued that emerging African industries required appropriate policy support to compete against established international manufacturers, particularly where imported products were sold at prices that discouraged investment in local factories.
He, however, distinguished industrial protection from restrictions on trade between African countries, advocating a regional approach that would strengthen manufacturing while preserving the objectives of the African Continental Free Trade Area. He maintained that African economies should trade more freely among themselves while establishing a common framework to protect their industries against unfair external competition.
The industrialist also questioned why Africa continued to experience widespread poverty despite its extensive agricultural land, mineral resources and youthful population.
He cited the continent’s natural endowments as evidence that Africa’s economic challenges were not principally the result of inadequate resources but of insufficient productive investment and industrial capacity. “Why should we remain poor?” he asked.
Dangote expressed confidence that the continent was entering a period in which African governments, entrepreneurs and investors were becoming increasingly determined to develop their own productive capabilities.
Business
Dangote Calls for Stronger Protection of Local Industries, Unveils Pan-African Energy Distribution Network
President and Chief Executive of Dangote Industries Limited (DIL), Aliko Dangote, has urged African governments to adopt policies that protect domestic industries and accelerate industrialisation.
He made the call in London, during the FT Africa Summit where he vented plans to establish an extensive petroleum distribution network across Africa through strategic investments in pipelines, storage facilities and supply corridors.
According to Dangote, the Group is aggressively expanding its petroleum logistics and distribution infrastructure across East, Central and Southern Africa as part of efforts to strengthen energy security, improve access to refined products and eliminate longstanding supply bottlenecks across the continent.
During a wide-ranging interview with Financial Times Africa Editor, David Pilling, the industrialist disclosed that the Group recently acquired a 25 percent stake in a petroleum products pipeline network in Kenya and is pursuing additional infrastructure projects connecting Djibouti and Ethiopia, alongside investments in Cameroon and Namibia.
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According to him, Africa’s aspiration for economic transformation will remain difficult to achieve without significant investments in infrastructure combined with industrial policies that promote local manufacturing, preserve productive capacity and create sustainable employment opportunities.
“Allowing imports to displace local production means we are exporting our jobs out of the continent and importing poverty into the continent,” Dangote said.
Dangote explained that the expansion forms part of a broader strategy to develop an interconnected African energy supply system capable of linking major refining centres with underserved markets that have historically depended on imported petroleum products and fragmented distribution channels.
“We are very aggressive with that,” he said, in response to questions about the Group’s plans for petroleum depots, pipelines and logistics infrastructure.
He revealed that the acquisition of a 25 per cent stake in Kenya’s petroleum pipeline network was achieved with the support of the Kenyan government and would significantly enhance the movement of refined petroleum products within the East African region.
“Just let me tell you, yesterday, with the support from the President of Kenya, we bought 25 percent of the pipeline network for the distribution of petroleum products,” Dangote disclosed.
The Group is also developing a major petroleum distribution corridor linking Djibouti and Addis Ababa, complete with storage terminals and tank farms designed to facilitate the efficient transportation and storage of refined products.
He added that another strategic project in Cameroon is nearing completion, while Namibia has been identified as a critical hub in the Group’s plan to penetrate Southern African markets.
Dangote described Namibia as a particularly attractive location because of its strategic proximity to the Dangote Petroleum Refinery and Petrochemicals (DPRP) in Lagos.
“From our refinery to Namibia is just about four days of steaming,” he noted.
According to him, refined products from the Lagos refinery will be transported to Namibia and distributed across interconnected markets, including Botswana and South Africa.
The Group is also examining other supply corridors extending into Zimbabwe and Zambia as part of its broader objective of developing a continental network supported by strategically located storage and transportation infrastructure.
The petroleum distribution expansion complements plans to establish another refinery in Lamu, Kenya, with a projected refining capacity of approximately 700,000 barrels per day.
Dangote noted that East Africa’s growing economies, vibrant mining sector and increasing energy demand make the region an attractive destination for refining investments.
He explained that the proposed refinery would source crude oil from multiple markets rather than depend exclusively on supplies from Kenya or Uganda, ensuring greater flexibility and long-term operational sustainability.
According to him, technical assessments identified Lamu as the preferred location because of its deep-water access, marine infrastructure and availability of critical resources required for large-scale refining operations.
Dangote revealed that the investment decision was concluded within four months, although he alleged that vested commercial interests attempted to delay the project through legal proceedings shortly before its public announcement.
Beyond energy infrastructure, Dangote strongly advocated policies aimed at protecting domestic industries from unfair competition, arguing that industrialisation cannot thrive if emerging African manufacturers are exposed to unrestricted imports from more established economies.
He questioned why African countries should be discouraged from supporting local industries when developed economies increasingly deploy similar measures to strengthen domestic manufacturing and employment.
Drawing parallels with recent developments in major global economies, he argued that industrial protection remains a legitimate and widely accepted economic strategy.
“If America is now saying, no, we are going to protect our industries, who are we in Africa not to protect our own industries?” he asked.
Dangote also disclosed that the Group has earmarked approximately $50 billion for investments between 2026 and 2030, describing the programme as part of a broader mission to demonstrate that African businesses can successfully execute transformative industrial projects at scale.
“The legacy we are trying to set up is how do we industrialise our continent?” he said.
According to him, the investment programme is designed not only to expand the Group’s operations but also to inspire other African entrepreneurs and investors to pursue ambitious industrial ventures capable of reshaping the continent’s economic future.
Looking beyond the energy sector, Dangote identified inadequate power supply, weak financial systems and underdeveloped industrial policies as major challenges constraining Africa’s economic growth.
He described electricity as a fundamental requirement for industrialisation, particularly in manufacturing, mining and mineral processing, where reliable power is essential for value addition.
With an estimated 650 million Africans still lacking access to electricity, he stressed that addressing the continent’s energy deficit would unlock significant opportunities for job creation, industrial development and economic diversification.
Questioning why a continent blessed with abundant natural resources, vast arable land and a young population continues to grapple with poverty, Dangote insisted that Africa possesses all the ingredients necessary to become a major industrial powerhouse.
Expressing optimism about the continent’s trajectory, he maintained that Africa’s industrial awakening has already begun.
“The journey has started,” Dangote declared. “But now we’re awake, and we will make it happen.”
Business
FCT Motorists, Commuters Divided over NNPC Petrol Discount
Some motorists and commuters in FCT have expressed mixed reactions to the N66-per-litre petrol discount offered by the Nigerian National Petroleum Company Ltd. as the Oct. 31 deadline approaches.
Speaking with the News Agency of Nigeria on Thursday, some of them commended the initiative while others expressed reservations about its impact.
NAN reports that the Federal Government announced a 30-day discount on petrol sold by the NNPC Ltd., with public transport operators to receive priority under the arrangement.
The Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele, said the arrangement was not a return to petrol subsidy.
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The minister said the government was also negotiating a ceiling of N1, 350 per litre on the ex-gantry or landing cost of petrol in an effort to reduce sharp fluctuations in pump prices.
NAN reports that Dangote Petroleum Refinery cut its gantry petrol price by N25 per litre from N1,350 to N1,325.
Mr Abubakar Saidu, a motorist who resides in Wuse, commended the Federal Government for the discount offered at NNPC Ltd. retail outlets.
Saidu stated that he purchased petrol through the app but sometimes had to wait in long queues before accessing the product.
He said that many Nigerians were unable to benefit from the discount due to network challenges.
“I downloaded the app and followed the procedure before buying the petrol at N1,339 per litre,” he said.
Another commuter who resides at Nyanya, Mr Obi Anyawu, said the intervention had not translated into lower transport fares.
Anyawu said the intervention had failed to ease the burden of high transportation costs on Nigerians.
According to him, commuters are still struggling to afford daily transportation to work.
“The transportation fare keeps increasing, and there has not been any difference,” he said.
Mrs Stephanie Okoro, a commuter who resides at Karu, said commuters were still struggling to afford daily transportation to work.
“I have not benefited from the intervention, and I have not seen any positive impact it has, even among the transporters.
“Commuters continue to face difficulties accessing affordable transportation, with many stranded at bus stops due to high fares,” she said.
Mr Jide Oyetola, a motorist who resides in Bwari, called for a comprehensive review of the intervention and the introduction of additional measures to alleviate the hardship faced by Nigerians.
Oyetola urged the government to explore alternative measures to reduce transportation costs and ease the economic burden on citizens.
“My secretary recently complained that her salary can no longer cover her transportation expenses.
“She said she might not be able to come to work five days a week because her salary can no longer cover her transportation costs.
“Even if she waits for a cheaper bus every morning, the situation will still not be manageable. You cannot blame her. I am sure she is not alone in that plight,” he said.
He said it forced her to consider reducing the number of days she would report to work.
Mrs Nonye Obanla, a commuter who resides at Dutse, urged the government to explore alternative measures to reduce transportation costs and ease the economic burden on citizens.
Courtesy – NAN





