General News
DANGOTE REFINERY BUYS FIRST CARGO OF EQUATORIAL GUINEA’S CEIBA CRUDE AMID CRUDE SHORTAGE
Dangote Refinery has purchased its first cargo of Equatorial Guinea’s medium sweet Ceiba crude, amid reports that the Nigerian National Petroleum Company Limited (NNPC) failed to deliver on its promise to supply adequate crude to the refinery.
According to sources, Dangote bought the 950,000 barrels of cargo over April 12-13 from BP in the past week. The price of the cargo is being kept under wraps. This comes after Dangote Refinery bought its first cargo of Algeria’s light sweet Saharan Blend crude from trading firm Glencore last month.
Market sources told Argus that Dangote seems to have sourced competitively priced crude from Equatorial Guinea at a time when domestic grades are facing sluggish demand from Nigeria’s core European market. This comes amid ample supply of cheaper Kazakh-origin light sour CPC Blend, United States WTI, and Mediterranean sweet crudes.
The NNPC has said it is currently in negotiations with Dangote Refinery about extending their naira-for-crude arrangement. “Any changes to the terms of the programme may pressure Dangote to increase the amount of foreign crude in its slate,” the report said.
Refinery sources told Argus in January that Dangote will source at least 50 per cent of its crude needs on the import market and is building eight storage tanks to facilitate this. The founder of the refinery, Aliko Dangote, said last month that the refinery is planning to reach its full capacity in March.
However, crude shortage remains a challenge and this could prevent the facility from achieving its ramp-up plans. NNPC spokesperson Olufemi Soneye disclosed some details of the naira-for-crude deal in a recent statement.
“Under this arrangement, NNPC has made over 48 million barrels of crude oil available to Dangote Refinery since October 2024. In aggregate, NNPC has made over 84 million barrels of crude oil available to the refinery since its commencement of operations in 2023,” he said.
Experts said that to meet its 650,000 bpd production target, the refinery must look elsewhere for feedstock, as the NNPC supplies an average 300,000 barrels of crude per day to Dangote Refinery.
The Economic Community of West African States (ECOWAS) has introduced an urgent, coordinated strategy to safeguard food security across West Africa and the Sahel, as global economic disruptions and rising oil prices continue to threaten agricultural production.
The decision followed an extraordinary virtual meeting of ECOWAS Ministers of Agriculture held on March 23, 2026, where regional leaders assessed the growing risks to food systems.
The high-level meeting, convened by the ECOWAS Commission through its Department of Economic Affairs and Agriculture under Commissioner Kalilou Sylla, brought together key regional institutions, development partners, and financial stakeholders.
Participants—including representatives from the West African Economic and Monetary Union and the Permanent Inter-State Committee for Drought Control in the Sahel—reviewed the impact of rising fertiliser costs, driven by global market volatility and increasing energy prices, on agricultural productivity across the region.
Deliberations resulted in the adoption of a medium- to long-term operational framework aimed at strengthening food sovereignty and building resilience within regional food systems.
Key measures outlined in the plan include the immediate establishment of regional agreements to secure strategic fertiliser supplies, as well as the creation of emergency reserves to cushion the effects of future price shocks.
The ministers also approved the introduction of liquidity swap mechanisms through central banks to address foreign exchange constraints faced by importers—an intervention expected to improve access to critical agricultural inputs.
“Our collective response underscores the urgency of safeguarding food security in the face of external shocks,” Sylla said, noting that enhanced regional coordination and targeted interventions would help sustain agricultural production and protect vulnerable populations.
The initiative highlights ECOWAS’ commitment to deepening regional cooperation and implementing sustainable solutions to emerging threats to food security across West Africa and the Sahel.
President of the Senate, Godswill Akpabio, and Speaker of the House of Representatives, Tajudeen Abbas, on Monday paid a Sallah homage to President Bola Ahmed Tinubu in Lagos.
The visit formed part of activities marking the Sallah celebrations, as top government officials and political leaders paid courtesy calls to the President.
During the meeting, President Tinubu also received members of the Lagos State Governor’s Advisory Council, a key political body in Lagos State.
Lagos State Governor’s Advisory Council
The engagements provided an opportunity for discussions on national issues and strengthened ties between the executive and legislative arms of government.
The Sallah homage is a long-standing tradition in Nigeria, where political leaders and stakeholders visit the President and other top officials during major Islamic festivities.
Former presidential candidate Peter Obi has expressed concern over the reported arrest of a Kaduna-based Islamic cleric, Sheikh Ahmad Tijjani Umar, describing the development as a threat to Nigeria’s democratic principles.
In a statement issued on Monday, Obi said he was informed that the cleric was arrested by authorities shortly after hosting him in Kaduna on Sunday. He described the situation as “deeply troubling,” warning that it reflects a growing pattern of intimidation and suppression of dissenting voices in the country.
Obi noted that such actions, if confirmed, undermine fundamental rights, including freedom of speech and movement, which he said are essential pillars of any democratic society.
He further stressed that harassment or persecution of citizens based on perceived political affiliations must not be tolerated, urging the government to uphold the rule of law in its dealings with Nigerians.
“This country must defend freedom and free speech, which are the hallmarks of every democratic society,” Obi stated, adding that suppression and intimidation of dissent have no place in a functioning democracy.
The former Anambra State governor called on authorities and all relevant actors to refrain from actions capable of weakening the nation’s already fragile democratic system.
As of the time of filing this report, there has been no official confirmation from security agencies regarding the alleged arrest.