The Managing Director of Dangote Petroleum Refinery & Petrochemicals, David Bird, has assured Nigerians of steady fuel supply despite ongoing disruptions in the global oil and gas market and the recent surge in crude oil prices.
Speaking during a media chat, Bird said the refinery remains committed to meeting Nigeria’s fuel demand even as geopolitical tensions in the Middle East continue to drive up crude oil prices, freight rates and insurance costs across the global energy supply chain.
According to him, countries heavily dependent on imported fuel are already experiencing panic buying and rationing. However, he stressed that Nigeria is now better positioned to avoid such challenges due to the availability of domestic refining capacity.
Bird noted that crude oil prices have risen sharply 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, explaining that the sudden increase has affected all segments of the global petroleum market.
Despite these pressures, he said Nigeria now enjoys a strategic advantage through local refining, which provides greater supply security. “What would be worse than $120 oil is no oil,” Bird stated, noting that some countries have already introduced fuel rationing due to complete dependence on imports.
He added that several nations with significant refining capacity have begun restricting fuel exports in order to protect domestic supply during the current global supply shock.
Bird explained that the refinery will continue to maintain stable fuel supply as long as it receives adequate crude oil from the Federal Government and the Nigerian National Petroleum Company Limited.
“With government support and steady access to domestic crude, Dangote Refinery will continue to meet all of Nigeria’s refined fuel requirements,” he assured.
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 Bird, the facility can produce between 50 million and 55 million litres of petrol daily, with additional capacity available through blending if required.
He noted that Nigeria’s daily petrol consumption is estimated at about 35 million litres, indicating that the refinery has sufficient capacity to meet domestic demand.
Bird added that the refinery is prioritising supply to the Nigerian market in order to guarantee what he described as “fuel abundance.”
“We will ensure that Nigeria enjoys fuel abundance, not fuel scarcity,” he said.
However, he explained that fuel pricing will continue to be influenced by global market dynamics, as the crude oil 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 noted, adding that any decisions regarding fuel price interventions remain the responsibility of the government.
Bird also disclosed that the refinery, which began sustained operations in early 2024, has recorded improved performance following maintenance and optimisation activities carried out earlier this year.
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