A coalition of concerned Nigerian citizens has called on the Nigerian National Petroleum Company Limited (NNPCL) to prioritise crude oil allocation to local refineries, including the Dangote Refinery, before considering foreign partners.
At a press conference in Abuja on Tuesday, January 7, the group decried reports suggesting that NNPCL plans to reduce crude supply to the Dangote Refinery from 300,000 barrels per day.
Obinna Francis, the group’s national coordinator, criticised the move, alleging it was part of a strategy to frustrate local investors and monopolise the oil sector.
“Citizens are no longer surprised that the NNPCL insists the Warri and Port Harcourt refineries are operational at 60-70% capacity, despite no evidence of fuel production,” he said.
Francis highlighted the hardship Nigerians face due to the removal of fuel subsidies and the rising cost of Premium Motor Spirit (PMS), which has inflated the prices of goods and services nationwide.
“The Dangote Refinery operates without burdening taxpayers, unlike government-owned refineries,” he noted, adding that reducing its crude supply could undermine efforts to make petroleum products affordable.
The group questioned the justification for NNPCL’s focus on loans like Project Leopard, which aims to raise $2 billion through crude oil exchanges, pushing national debt higher.
“NNPCL’s syndicated loan operations, including Project Gazelle, continue to prioritise foreign partnerships over meeting domestic refinery quotas,” Francis said.
Citing Nigeria’s daily crude production of 1.8 million barrels as of November 2024, the group argued for a reevaluation of priorities.
They urged President Bola Tinubu to intervene and ensure that the NNPCL’s actions align with national interests.
“If the Warri and Port Harcourt refineries are operational, they should reduce petrol prices, not become a basis for cutting supply to other local refineries,” Francis said.
The group also underscored the success of privatisation in sectors like power and telecommunications, arguing it has consistently outperformed government-owned utilities.
“The evidence is clear: private sector-led initiatives deliver better results for Nigerians,” Francis concluded.
They called for transparency and a strategic focus on boosting local refining capacity, noting that billions lost to poorly managed public refineries could have funded critical sectors such as health and education.
