The Crude Oil Refinery-owners Association of Nigeria (CORAN) is sounding the alarm that the Nigerian National Petroleum Company (NNPC) is playing favorites with Dangote Refinery. Apparently, NNPC is prioritizing the sale of crude oil in Naira to Dangote Refinery, which doesn’t sit well with other refinery owners ¹.

Here’s the background: for over 20 years, Nigeria has set aside about 445,000 barrels of crude oil per day for domestic refining. This allocation is paid for in Naira, and the resulting refined products are sold within Nigeria. However, CORAN claims that the federal government has promised to only supply crude oil to Dangote Refinery, citing it as the only refinery producing petrol.

Key Points:

• Prioritized Sale: NNPC allegedly prioritizing crude oil sales to Dangote Refinery ¹
• Domestic Refining Arrangement: 445,000 barrels of crude oil per day set aside for domestic refining ¹
• Payment in Naira: Allocation paid for in Naira ¹
• Exclusive Supply: Federal government promises to only supply crude oil to Dangote Refinery ¹

Eche Idoko, CORAN’s publicity secretary, revealed that the sale would commence on October 1. This development has likely raised concerns among other refinery owners, sparking CORAN’s allegations. Would you like more information on Nigeria’s oil industry or updates on this story?