Chairman of the House of Representatives Committee on Petroleum Resources (Downstream), Ikenga Ugochinyere, alleges Nigerian crude is being sold to Dangote Refinery and others through middlemen in London and Dubai, adding $18 to every $100 barrel.
This could lead to fuel scarcity and price hikes, with the 650,000-barrel-per-day refinery facing crude supply shortages.
Ugochinyere stated that Dangote Refinery pays this premium due to lack of direct access to Nigerian crude, contributing to higher fuel prices.
The refinery currently receives only 5 cargoes, far below the 15 needed to operate optimally.
The House Committee has urged the Presidential Technical Committee to resolve the issue within 48 hours to prevent widespread fuel scarcity and economic instability.
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