Dangote Refinery to Source 100% Feedstock Locally by Year End

Dangote Industries Limited is set to revolutionize Nigeria’s oil industry with its massive refinery, which is expected to rely entirely on local crude oil by the end of the year.

This move will significantly reduce the country’s dependence on imported oil and save billions of dollars in foreign exchange.

The refinery, owned by Africa’s richest person, Aliko Dangote, has been making strides in increasing its use of local crude. In June, the facility sourced 53% of its crude supply from domestic producers, with the rest coming from the US.

The company expects to transition to 100% local crude supply before the year ends, driven by expiring long-term contracts and improved relations with local oil traders and the government.

The Dangote refinery’s shift to local crude will not only reduce import dependency but also provide a significant boost to the local economy.

Nigeria’s reliance on imported refined petroleum products will decrease, saving the country billions of dollars in foreign exchange. The refinery is currently processing 550,000 barrels of crude daily and is expected to reach its full capacity of 650,000 barrels per day soon.

The refinery has already started exporting fuel to several African countries and has supplied jet fuel to Saudi Aramco, demonstrating its growing global influence. With its massive capacity and growing global footprint, the Dangote refinery is poised to play a critical role in shaping Africa’s energy landscape.