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Dangote Refinery Appoints David Bird as CEO of Petroleum, Petrochemicals Division

Fola Badmus03 mins

By Kamal Yalwa: August 2, 2025 The Dangote Petroleum Refinery and Petrochemicals has appointed David Bird as the new Chief Executive Officer (CEO) of its petroleum and petrochemicals business. The appointment, which took effect in July 2025, was first reported by S&P Global on Friday. Bird’s arrival comes as the refinery seeks to scale up operations, resolve production challenges, and roll out an ambitious nationwide fuel distribution scheme already facing significant regulatory and logistical hurdles. A source at the company told TheCable that Bird is a mechanical engineer and an alumnus of Imperial College, London, with an MBA from Stanford University. He brings extensive global experience in the oil and gas industry. Prior to this appointment, Bird served as the head of Oman’s Duqm Refinery, and also held senior roles at Santos Ltd and Shell, including Vice President of Prelude FLNG, where he led operations on the world’s first floating LNG facility. He also chaired Shell Australia’s RAP board and headed operations at Shell’s largest refinery in Singapore — Pulau Bukom. Aliko Dangote, Chairman of Dangote Industries Limited, will continue to serve as chairman of the refining business while retaining his role as CEO of the broader Dangote Group, which spans cement, fertilizer, and sugar refining operations. In a LinkedIn post cited by S&P Global, Bird stated that his focus will be on driving maximum output, operational efficiency, and expanding Dangote’s market presence beyond Nigeria and into the wider African continent. His appointment marks a pivotal phase for the 650,000 barrels per day refinery, which has been gradually ramping up output since its commissioning by former President Muhammadu Buhari in May 2023. The refinery is expected to commence fuel distribution to end-users by August 15, 2025, using a fleet of 4,000 CNG-powered trucks, further positioning itself as a critical player in Africa’s energy landscape.

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Dangote Refinery Targets 100% Nigerian Crude Supply by End of 2025 — Bloomberg

Dangote Refinery Targets 100% Nigerian Crude Supply by End of 2025 — Bloomberg

Fola Badmus23 mins

Africa’s largest oil refinery, the 650,000-barrel-per-day Dangote Refinery, is poised to fully transition to sourcing its crude oil exclusively from Nigerian producers by the end of 2025, according to a report by Bloomberg. The refinery, which is already processing 550,000 barrels daily, received 53% of its crude from local sources in June, while the remaining 47% came from international suppliers including the U.S., Brazil, Angola, Ghana, and Equatorial Guinea. Devakumar Edwin, Vice President of Dangote Industries Ltd., told Bloomberg that the transition to 100% local sourcing is underway as several long-term foreign contracts are set to expire. “Personally, and as a company, we expect that before the end of the year we can transition 100% to local crude,” Edwin said during a recent interview at the Lagos-based facility. The $19 billion refinery, inaugurated in May 2023, is seen as a strategic solution to Nigeria’s long-standing reliance on fuel imports. Although Africa’s largest oil producer, Nigeria has historically exported crude for refining abroad and re-imported the finished products—a costly and corruption-prone cycle that the Dangote refinery aims to break. In July and August, Dangote is scheduled to receive five crude oil cargoes each month from the Nigerian National Petroleum Company (NNPC), with each shipment containing nearly one million barrels. Challenges and Outlook The road to full local sourcing has not been without obstacles. Nigeria’s oil sector has been hampered by crude theft, pipeline vandalism in the Niger Delta, and a shift in ownership of oil assets from international oil companies to under-resourced local firms. Despite these challenges, Edwin expressed confidence that improved cooperation between Dangote, local oil traders, and the Nigerian government will stabilize domestic supply chains. A Regional Beacon of Hope During a recent visit to the refinery, ECOWAS Commission President, Dr. Omar Alieu Touray, hailed the project as a “beacon of hope” for Africa, underscoring its significance in driving regional industrialisation and economic independence. The Dangote Refinery, when fully operational, is expected to drastically reduce Nigeria’s import bill, generate jobs, and cement Nigeria’s status as a net exporter of refined petroleum products.

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NEPZA, Dangote Refinery and Stakeholders Pledge Compliance with Presidential Directive on Crude Sales in Naira

Fola Badmus03 mins

The Nigeria Export Processing Zones Authority (NEPZA), the One-Stop-Shop Committee on the Sale of Crude in Naira, and Dangote Refinery & Petrochemicals Free Zone Enterprises have jointly committed to implementing the presidential directive aimed at reducing domestic petroleum product prices by eliminating dollar-based crude sales in local transactions. According to The Bureau Newspaper, the resolution was reached during a courtesy visit by members of the committee to NEPZA’s Managing Director, Dr. Olufemi Ogunyemi, in Abuja. All parties agreed to align operations with the directive, which is intended to strengthen energy security and stimulate economic growth. Dr. Ogunyemi expressed NEPZA’s full support for the policy, emphasizing the Authority’s supervisory role in the Dangote Refinery project from inception to commissioning. He noted that the refinery, operating under the Free Trade Zone Scheme, has received 480 vessels to date and has commenced full-scale production of petrol, diesel, aviation fuel, and other petroleum products for domestic and export markets. “The sale of crude in naira will eliminate the local currency’s vulnerability to dollar fluctuations,” Ogunyemi stated, describing the refinery as a “shining star” in advancing the new energy policy. Ms. Maureen Ogbonna, the committee’s coordinator, described the initiative as a strategic intervention by President Bola Tinubu to reposition Nigeria’s economy. “It is only a matter of time before we move fully away from billing domestic crude in dollars,” she said, adding that the policy is already producing results due to strong political will and stakeholder collaboration. Also speaking, Mr. Akinsanya Mobolarin, General Manager of Engineering and Strategic Services at Dangote Refinery, reiterated the company’s commitment to supporting national development. “The policy, when fully implemented, will drive substantial growth in Nigeria’s energy and industrial sectors,” he said. All stakeholders pledged to maintain synergy in executing the directive and achieving sustainable energy affordability for Nigerians.

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Petrol Price Hits ₦945/Litre at NNPC Stations Amid Soaring Global Oil Prices Petrol Price Hits ₦945/Litre at NNPC Stations Amid Soaring Global Oil Prices

Dangote Refinery Cuts Petrol Price to N835 per Litre Amid Global Oil Drop

Fola Badmus02 mins

In a major development for Nigeria’s downstream oil sector, the Dangote Petroleum Refinery has announced another reduction in the gantry price of Premium Motor Spirit (PMS), commonly known as petrol. The new gantry price is now pegged at N835 per litre, down from N865, representing a 3.5 per cent decrease. The latest adjustment comes on the heels of a steady decline in global crude oil prices, which have fallen from over $70 per barrel to $64 per barrel in recent weeks. This move follows a previous reduction by the refinery from N880 to N865 per litre, a change which oil marketers reportedly failed to reflect in retail prices at the pump. As Africa’s largest oil refinery with a capacity of 650,000 barrels per day, Dangote Refinery continues to shape Nigeria’s energy landscape, offering a potential solution to the country’s long-standing fuel supply and pricing challenges. The refinery’s consistent pricing adjustments in response to market trends aim to encourage competition and transparency in fuel distribution across the country.

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Dangote denies petrol pump prize increase

Fola Badmus05 mins

Dangote Petroleum Refinery has denied an upward adjustment in the prices of its Premium Motor Spirit (PMS) commonly known as petrol. The company stated this in a statement made available on Sunday. The statement reads; “We wish to clarify that the recent adjustment in our ex-depot price of Premium Motor Spirit (Petrol) is directly related to the significant increase in global crude oil prices. As crude remains the primary input in the production of PMS, any fluctuation in its international price inevitably impacts the cost of the finished product. “At Dangote Petroleum Refinery, we recognise the critical importance of affordable fuel for all Nigerians, and we remain committed to offering the best value with guaranteed quality to our customers. While we have made a 5% adjustment to our ex-depot price from N899.50 to N950 per litre, it is important to note that this increase is considerably lower than the 15% rise in global crude oil prices, which has seen Brent Crude rise from $70 to $82 in a matter of days, in addition to the premium for Nigerian crude (approximately $3 per barrel) in international markets. “Furthermore, Dangote Refinery has maintained the Single-Point Mooring (SPM) ex-vessel price at N895 per litre. “All our partners, including Ardova, Heyden, and MRS Holdings, will offer petrol to Nigerians at a retail price of N970 per litre nationwide. We have absorbed the increased logistics costs to guarantee uniform pricing across the 36 states of the federation and the Federal Capital Territory (FCT). “Dangote Refinery has absorbed approximately 50% of the cost increases in the international oil market. This is due to our unwavering commitment to quality and affordability, as well as the ownership of the refinery by Nigerians, which remain central to our mission. If Dangote Refinery were to pass on the entire increase in the price of crude oil to the market, the retail price of PMS would be approximately N1,150 to N1,200 per litre in some locations, compared to the current price of N970 per litre. “We are committed to providing reliable, top-quality petrol to the Nigerian people at competitive prices. In these challenging times, we continue to prioritise the best interests of Nigerians, striving to shield consumers from the full impact of global price volatility while adapting to evolving market conditions. “We sincerely appreciate the continued trust and support of Nigerians as we strive to deliver the best value for their money and contribute to the development of a self-sufficient economy that is resilient to international price fluctuations. “In the interest of transparency and good governance, Dangote Refinery will commence publishing its ex-depot price, ex-vessel price as well as pump price on a weekly basis so that consumers are not exploited. “We would like to express our gratitude to President Bola Ahmed Tinubu for the introduction of the visionary Naira for Crude Initiative. This groundbreaking initiative has enabled consistent access to high-quality PMS for all Nigerians, while also insulating the Nigerian consumers from the volatility of the global oil market.”

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Dangote Refinery denies selling PMS at N898

Fola Badmus02 mins

Dangote Refinery has denied selling Premium Motor Spirit (PMS) otherwise known as petrol to the Nigerian National Petroleum Corporation (NNPC) at N898.  The Group refuted the claims in a statement on Sunday.  The statement reads; “Our attention has been drawn to a statement attributed to NNPCL spokesperson, Mr. Olufemi Soneye, that we sell our PMS at N898 per litre to the NNPCL. “This statement is both misleading and mischievous, deliberately aimed at undermining the milestone achievement recorded today, September 15, 2024, towards addressing energy insufficiency and insecurity, which has bedeviled the economy in the past 50 years. “We urge Nigerians to disregard this malicious statement and await a formal announcement on the pricing, by the Technical Sub-Committee on Naira-based crude sales to local refineries, appointed by His Excellency, President Bola Ahmed Tinubu GCFR, which will commence on October 1, 2024, bearing in mind that our current stock of crude was procured in dollars. “It should also be noted that we sold the products to NNPCL in dollars with a lot of savings against what they are currently importing.  With this action, there will be petrol in every local government area of the country regardless of their remote nature. “We assure Nigerians of availability of quality petroleum product and putting an end to the endemic fuel scarcity in the country.”

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