Crude oil producers in Nigeria have kicked against being forced to sell their products to Dangote Refinery and other local refineries, saying it negates the willing-buyer, willing-seller framework.
The oil producers, under the aegis of the Independent Petroleum Producers Group (IPPG) rather urged the Nigerian National Petroleum Company Limited to re-direct its allocated crude oil volumes to Dangote refinery and other local refineries to mitigate the current crude supply shortage being experienced by the local refiners that is impacting local product availability in many parts of Nigeria.
According to a letter by the Chairman of IPPG, Abdulrazak Isa dated August 16, 2024, and addressed to the Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission, Gbenga Komolafe, the group kicked against being forced to sell to Dangote Refinery and other local refineries, saying it could jeopardise the existing commercial agreements, economic interests, and business models of each segment of the oil and gas sector.
