Dangote Petroleum Refinery & Petrochemicals has reaffirmed its commitment to ensuring stable energy supply in Nigeria despite global refinery shutdowns and crude supply disruptions. The ongoing Middle East conflict and China’s ban on gasoline and diesel exports have caused shortages and rising crude prices worldwide.

The company noted that Nigeria is insulated from these shocks because domestic refining prioritises the local market. Dangote Refinery adjusted its ex-depot PMS price by N100 per litre, absorbing about 20 percent of the cost increase to protect domestic consumers.

Crude oil sourcing remains challenging, with NNPC supplying only five of the 13 cargoes required monthly. The refinery also sources crude at international rates, paying additional premiums and foreign exchange costs to secure sufficient supply.

Dangote Refinery stressed that domestic refining provides resilience against global market shocks, highlighting the benefits of local production in maintaining energy stability and mitigating international price volatility for Nigerian consumers.