Dangote Refinery’s Managing Director, David Bird, has said that sustained domestic refining and stable fuel pricing are playing a critical role in supporting the naira and reducing Nigeria’s exposure to external energy shocks.
Bird said the increasing ability to meet local fuel demand from in-country production has helped moderate pressure on foreign exchange as reliance on imported petroleum products continues to decline.
According to him, local refining limits the need for dollar-denominated imports, improves supply predictability, and contributes to broader macroeconomic stability.
He noted that steady fuel availability has also supported price stability across the downstream market, particularly during periods of high demand.
The refinery’s operating model, he explained, is structured to align production closely with domestic consumption while retaining the flexibility to export excess volumes when market conditions require.
Bird added that domestic refining strengthens Nigeria’s economic resilience by insulating the fuel market from global crude price volatility and logistics disruptions.
By processing crude locally, the country is better positioned to manage cost pressures linked to international supply chains and currency fluctuations.
Beyond pricing and foreign exchange considerations, he said the refinery’s output meets international quality benchmarks, supporting cleaner fuel consumption and reinforcing Nigeria’s position as a competitive energy producer.
According to him, sustained investment in refining and associated industries remains central to driving long-term stability, industrial growth, and confidence in the domestic economy.