In a move that highlights the challenges faced by Nigeria’s oil industry, the newly built Dangote Refinery in Lagos is seeking to import millions of barrels of crude oil from the United States.
The refinery, owned by Africa’s richest man Aliko Dangote, has issued a tender for the purchase of 2 million barrels of West Texas Intermediate Midland crude per month for a period of 12 months starting in July.
The move is significant as Nigeria is Africa’s largest oil-producing nation, but the refinery’s decision to import crude oil from the US underscores the struggles faced by the country’s oil industry in meeting domestic demand.
The tender, which closes on May 21, is seen as a boost for US crude oil exports, which have been increasing in recent years.
The Dangote Refinery, which is expected to be Africa’s largest oil refinery and the world’s biggest single-train facility, is a 650,000 barrels per day (BPD) integrated refinery project located in the Lekki Free Zone near Lagos, Nigeria.
Despite Nigeria’s efforts to boost its oil production, the country’s refineries have been struggling to meet domestic demand for petroleum products, leading to a reliance on imports.
