David Bird, managing director of Dangote Petroleum Refinery, has assured Nigerians that the refinery will continue to meet the country’s fuel demand despite ongoing disruptions in the global oil and gas market.
He said that although countries that depend heavily on fuel imports are already experiencing panic buying and rationing, Nigeria will not face such challenges as the refinery remains committed to ensuring steady petrol supply nationwide.
Speaking during a media chat on Monday, Bird said the refinery would continue supplying fuel to the Nigerian market even as geopolitical tensions in the Middle East drive increases in crude oil prices, freight charges and insurance costs.
According to him, the global oil market has experienced a sharp surge within a short period.
“Just a week ago, oil was trading in the mid $60 range, and it has now climbed to nearly $120 per barrel,” he said, noting that the sudden increase has affected the global energy supply chain.
Bird explained that Dangote Refinery, like other players in the global refining industry, is affected by fluctuations in crude prices, freight rates and insurance premiums.
However, he said Nigeria now enjoys a strategic advantage through domestic refining capacity, which strengthens the country’s energy security.
“What would be worse than $120 oil is no oil,” he said, adding that some countries have already begun rationing fuel because they depend entirely on imports.
He further stated that several countries with significant refining capacity have also started restricting fuel exports to protect their domestic supply amid the ongoing global supply shock.
Bird emphasised that as long as the refinery continues to receive Nigerian crude through the Federal Government and the Nigerian National Petroleum Company Limited (NNPCL), it will maintain consistent supply to the domestic market.
“With government support and steady access to domestic crude, Dangote Refinery will continue to meet all of Nigeria’s refined fuel requirements,” he said.
He disclosed that the refinery is currently operating at its full nameplate capacity of about 650,000 barrels per day, making it one of the world’s largest single-train refineries.
According to him, the facility can produce between 50 million and 55 million litres of petrol daily and can further increase output through blending if necessary.
Bird noted that Nigeria’s daily petrol consumption is estimated at about 35 million litres, indicating that the refinery has sufficient capacity to meet national demand.
He added that the refinery is prioritising supply to the domestic market to guarantee what he described as “fuel abundance.”
“We will ensure that Nigeria enjoys fuel abundance, not fuel scarcity,” he said.
However, Bird cautioned that petrol pricing would still be influenced by global market conditions because the crude processed by the refinery is purchased at international benchmark prices, even under the crude-for-naira arrangement.
“Pricing is determined largely by global commodity markets,” he said, adding that any decision on fuel price intervention lies with the government.
Bird also noted that the refinery, which began sustained operations in early 2024, has recorded improved performance following maintenance and optimisation activities carried out earlier in the year.