Daily Post Nigeria
Nigeria's Finance Minister Taiwo Oyedele stated that the country currently lacks the crude oil production capacity to meet the 700,000-barrel daily requirement of the Dangote Petroleum Refinery. This comes alongside a government-announced 30-day petrol discount aimed at easing living costs.
Why it matters
The supply struggle highlights the challenges Nigeria faces in balancing domestic refinery needs with export commitments and economic stability.
Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has said Nigeria does not currently have enough crude oil to supply the Dangote Petroleum Refinery with its daily requirement of 700,000 barrels. Oyedele explained that the country was yet to reach a production level that would enable it to meet the refinery's entire crude oil demand while also satisfying other domestic and export commitments. “We (Nigeria) are still not at the point where we can give Dangote Refinery 700,000 barrels of crude oil; we don’t have enough to service Dangote Refinery,” he said. The minister spoke on Friday while fielding questions on Channels Television's Politics Today programme.
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