Dangote Petroleum Refinery & Petrochemicals has reaffirmed its dedication to ensuring energy stability in Nigeria, amidst significant disruptions affecting the global oil market. The refinery is responding to widespread refinery shutdowns and production cuts spurred by ongoing conflicts in the Middle East, which have resulted in an acute scarcity of petroleum products due to rising geopolitical tensions. Further complicating the situation is China's decision to impose a ban on gasoline and diesel exports, affecting supply chains worldwide.

Despite these challenges, Dangote Refinery believes that Nigeria is relatively insulated from these supply shocks, primarily because it prioritizes domestic supply. The company stresses that one of the crucial advantages of domestic refining is its capacity to meet local demands even during international crises. As global crude oil prices, particularly Brent, surge by approximately 26 percent to exceed $84 per barrel, the refinery aims to maintain energy availability for Nigerians, mitigating the impact of fluctuating international prices.

In light of the rising costs, Dangote Refinery is adjusting its pricing strategy, implementing a modest increase of N100 per litre in its ex-depot price for petroleum products. This adjustment reflects the company's focus on maintaining a sustainable operation while continuing to provide critical supplies to the local market. The refinery's commitment to energy stability is seen as a pivotal move in supporting Nigeria's economic resilience during these challenging global circumstances.