The President of Dangote Industries, Aliko Dangote, has stated that Nigeria has no business importing crude or refined petroleum products.
The billionaire businessman spoke during a visit by the South South Development Commission (SSDC) to the Dangote Petroleum Refinery and Fertiliser Complex in Lagos.
He criticised the crude supply practices of international oil companies, insisting that such a development should never happen if existing laws are properly enforced.
He said the Petroleum Industry Act (PIA) already establishes a framework that prioritises domestic crude supply.
However, he noted that operators continue to exploit loopholes that undermine the intent of the law.
Dangote stated that several oil companies routinely divert Nigerian crude to their trading subsidiaries abroad, particularly in Switzerland, forcing domestic refineries to buy from these offshore entities at a premium of four to five dollars per barrel.
“The crude is available. It is not a matter of shortage. But the companies move everything to their trading arms, and we are forced to buy at a premium. Meanwhile, we do not receive any premium for our own products,” he said.
He disclosed that he has formally written to the Federal Government, urging it to charge royalties and taxes based on the actual price paid for crude, to prevent revenue losses and to discourage practices that disadvantage local refiners.
Dangote said NNPC remains the primary supplier, honouring domestic supply obligations, providing five to six cargoes monthly. However, the refinery requires as many as twenty cargoes per month from January to operate optimally.
Describing the situation as “unsustainable for a country intent on genuine industrial growth,” Dangote argued that Africa’s economic future depends on value addition rather than perpetual raw material export.
“It is shameful that while we exported one point five million tonnes of gasoline in June and July, imported products were flooding the country. That is dumping,” he said.
According to a report by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), the refinery supplied only 17.08 million litres of the 56.74 million litres consumed in October 2025.
Dangote said that the refinery exports its products if regulators continue to permit dumping by marketers.
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