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Dangote Refinery imports additional 11m barrels of US crude oil due to domestic supply shortage
Nasiru Yusuf Ibrahim
Dangote Petroleum Refinery and Petrochemicals has issued a tender for an additional 11 million barrels of US crude oil over the next six months due to Nigerian crude oil producers’ inability to meet its feedstock requirements.
KANO FOCUS reports that the 650,000 barrels per day refinery has already received 9 million barrels of West Texas Intermediate crude from the US since the beginning of 2024 to offset unreliable domestic supplies. The new tender, closing on July 21, aims to procure two million barrels per month of WTI Midland crude for the world’s largest single-train facility located in Ibeju Lekki, Lagos, for the next six months starting in August.
In a tender reported by Bloomberg, Dangote Refinery purchased five million barrels of West Texas Intermediate (WTI) Midland crude for delivery in the upcoming months of August and September. Additionally, the company initiated a tender process to acquire an additional six million barrels of American crude for September.
This reliance on US crude highlights Nigeria’s challenges in meeting its own refining needs, attributed to issues such as crude theft, aging infrastructure, and underinvestment, which have led to a decline in production. In April, Nigeria’s daily output was only 1.45 million barrels, well below its capacity of 2.6 million barrels per day. The country recorded an estimated 30 million barrels underproduction in the first four months of 2024.
Dangote Refinery, crucial to Nigeria’s goal of becoming a net exporter of petroleum products, has found it necessary to import crude to sustain operations amidst insufficient domestic supply.
President of Dangote Group, Aliko Dangote, stated during the Africa CEO Forum 2024 that the refinery will need to continue importing crude as production scales up and alternative supply contracts are sought.
“It also makes economic sense for us to tender for crude. If we could source 100 percent Nigerian crude, then fine, but we can’t wait,” said Dangote.
Commenting on the challenge with sourcing crude locally, Dangote added, “there is a bit of a problem for us to source the entire volume of crude that we’re looking for domestically because we need different types and mixes. Unless crude production improves – which we pray and hope for – we need to go elsewhere.”
The refinery took in more than 41 million barrels of feedstock in the first half of the year as it completed test runs and gradually increased processing rates, tanker-tracking data show. Of that, about a quarter has been American supply.
According to CAS, the refinery took delivery of 11 WTI cargoes, or 9 million barrels, between February and May, contrasting with around 18 million barrels of Nigerian crude deliveries.
Nigerian National Petroleum Company (NNPC), NNPC has struggled to meet its 300,000 barrels per day obligation to the refinery due to operational constraints.
International financial analytics corporation, S&P Global, recently described the Dangote Petroleum Refinery and Petrochemicals company as capable of resolving Nigeria’s foreign exchange (forex) issue and its huge pressure on the local Naira currency, while also catalysing the country’s economic development.
S&P Global, headquartered in Manhattan, New York City, disclosed this during an onsite visit to the refinery as part of its sovereign credit ratings assessment of Nigeria. The team from the international rating agency were accompanied by officials from the Federal Ministry of Finance.
S&P noted that the refinery would bolster Nigeria’s oil sector and, more importantly, also have a positive impact on its growing economy.
Currently operating at 350,000 barrels per day capacity, Vice President of Oil and Gas at Dangote Industries Limited (DIL), Devakumar Edwin, recently disclosed that the refinery would scale up to at least 500,000 barrels per day capacity by July/August, commencing the refining of petrol and ultra-low sulphur diesel.
He noted that the refinery, designed to process a wide range of crudes including various African and Middle Eastern crudes, as well as US Light Oil, conforms to Euro V specifications. In addition, it is designed to comply with US EPA, European Union (EU) emission norms, the Department of Petroleum Resources (DPR) emission/effluent norms, and the African Refiners and Distribution Association (ARDA) standards.
While noting that most refineries were built by foreign companies, he said it is a thing of pride that a Nigerian company designed and built the world’s largest single-train refinery complex while acting directly as its own Engineering, Procurement, and Construction (EPC) contractor. The refinery which also incorporates a self-sufficient marine facility capable of handling the world’s largest vessels, can meet 100% of Nigeria’s requirement of all liquid products (Gasoline, Diesel, Kerosene & Aviation Jet) and have surplus of each of these products for export.
Aminu Abdullahi Ibrahim
Bayero University Kano (BUK) on Monday celebrated the 50th anniversary of its Faculty of Education and inaugurated its Alumni Association at the Convocation Arena of the university’s new campus.
KANO FOCUS reports that the event was graced by government officials, education stakeholders, and alumni all gathered to commemorate the faculty’s contributions to Nigeria’s educational sector.
In her keynote address, the State Minister for Education, Mrs. Suwaiba Sa’id Ahmad announced the Federal Government’s Sector Renewal Initiative designed to transition Nigeria from a resource-based to a knowledge-based economy.
She highlighted that the aim of the renewal initiative consists of – Reducing the number of out-of-school children; combating learning poverty; nhancing skills development and human capital for the labor market
The minister noted that the initiative prioritizes Technical and Vocational Education and Training (TVET); Science, Technology, Engineering, and Mathematics (STEM); Digital literacy and education quality assurance.
Mrs. Ahmad disclosed that the Federal Government had disbursed ₦35 billion to 261 beneficiaries under the Nigerian Education Loan Fund (NELFUND), with BUK among the top beneficiaries.
“So far, the scheme has received 420 applications, and we are scaling up investments,” she stated.
She further confirmed that President Bola Ahmed Tinubu approved ₦120 billion to boost TVET programs, with plans to train 650 youths in technical, vocational, and digital skills over the next two years.
Emeritus Professor Sani Ahmad Sufi, former Permanent Secretary of the Ministry of Education, praised the faculty for its high-quality graduates.
“Our pride lies not just in the number of graduates produced yearly, but in their impact across Nigeria and beyond,” he said.
He added that the faculty has produced Nigeria’s largest pool of graduate teachers many of whom hold key positions nationally and internationally.
The National Chairman of the All Progressives Congress (APC), Dr. Abdullahi Umar Ganduje applauded the faculty for its significant role in advancing education in Nigeria.
The event concluded with awards presented to distinguished alumni and supporters of the faculty in recognition of their contributions to its growth.
Kano State Governor Abba Kabir Yusuf has emerged as a beacon of hope for graduates left stranded due to the previous administration’s negligence regarding academic certificates.
His determination to rectify these injustices has culminated in decisive actions to secure the future of Kano’s youth. Ibrahim Adam, the Special Adviser to the Governor on Information, shared these developments with the media.
On December 9, 2024, Governor Yusuf traveled to Cyprus with a mission to obtain the overdue academic certificates for Kano students affected by the prior administration’s failure to meet its educational financial obligations.
During a critical meeting with the management of Near East University, the governor focused on facilitating the release of certificates for students who graduated between 2015 and 2019, particularly in essential fields like Medicine and Nursing.
This was confirmed by Sunusi Bature Dawakin Tofa, the governor’s spokesperson.
In a significant move, Governor Yusuf has settled the outstanding fees of €1.4 million (approximately ₦2.5 billion) owed to the university for 84 medical and2015 to 2019.
This substantial financial commitment honors the dedication and hard work of these graduates, restoring their hopes for a future that had previously been unjustly delayed.
According to Ibrahim Adam, the certificates are set to be handed over to the Kano State Scholarship Board through the Nigerian Ambassador to Turkey, marking a pivotal moment for the affected students.
Governor Yusuf acknowledged the challenges faced by the graduates, declaring, “This situation has been a significant setback for our children, hindering their dreams and aspirations, and it has also affected our state, which is in dire need of their expertise.”
His vision for a prosperous Kano is centered on prioritizing education, ensuring that talented individuals can make valuable contributions to the state’s advancement.
The governor’s proactive measures not only address the systemic issues in the education sector but also inspire renewed hope among Kano’s youth.
By fulfilling his promises, he emphasizes the crucial role of supporting young people in achieving their aspirations, which is vital to the state’s growth.
As this milestone is celebrated, it is evident that Governor Abba Kabir Yusuf’s relentless pursuit of educational reform signals a transformative era for Kano State.
His administration’s unwavering focus on education stands as a vital investment in the futures of individuals and the overall development of the state.
Under his leadership, Kano State is poised to realize its full potential, with eager graduates ready to make impactful contributions to their communities.
Governor Yusuf’s commitment to empowering the youth serves as an enduring reminder that with dedication and decisive action, a brighter future is attainable for all.
Mukhtar Yahya Usman
Kano State Governor, Alhaji Abba Kabir Yusuf, has been named Governor of the Year 2024 (Good Governance) by Vanguard Newspaper, in recognition of his transformative achievements in the education and healthcare sectors.
The recognition was announced in a statement issued by the Governor’s spokesperson, Sanusi Bature Dawakin Tofa, on Saturday.
Governor Yusuf received the award at a prestigious event held in Lagos, where eminent personalities from across the country were honoured for excellence in leadership and service.
Speaking at the ceremony, the Chairman of the occasion, Atedo Peterside, emphasized that the selection process was based on merit and verifiable impact, commending the awardees for their outstanding contributions to national development.
Vanguard’s Editor-in-Chief, Eze Anaba, praised Governor Yusuf for setting a high standard in governance through his commitment, innovation, and focus on people-centered policies.
In his remarks, Governor Yusuf expressed gratitude to Vanguard for the recognition, dedicating the award to the people of Kano State.
He reaffirmed his administration’s resolve to continue investing in sectors that directly impact the lives of citizens, especially education, health, and social welfare.
Other recipients of the Good Governance Award included Governors Umar Namadi (Jigawa), Charles Soludo (Anambra), Douye Diri (Bayelsa), Biodun Oyebanji (Ekiti), Sheriff Oborevwori (Delta) and Hope Uzodinma (Imo).
Governor Yusuf was accompanied to the ceremony by members of the State Executive Council, lawmakers, special advisers, local government chairmen, and close political allies.
This latest honour comes just four days after he received the Governor of the Year (Education) award from Leadership Newspaper.
The Governor is also scheduled to receive the Africa Good Governance Award from Heritage Times Magazine later this month in Morocco.
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