Dangote Industries Limited (DIL) has accused International Oil Companies (IOCs) of inflating prices and hindering access to local crude oil through non-value-adding middlemen.
Devakumar Edwin, DIL Vice-President, alleged that IOCs offer local crude at a premium of $2-$4 per barrel above the official price set by NUPRC. He urged the regulatory body to address pricing issues and ensure a transparent and efficient crude supply system.
Edwin hopes NUPRC will prevent price gouging and ensure fair pricing and supply availability. DIL is seeking a more transparent and equitable system for accessing local crude, free from inflated prices and shady middlemen.
This development highlights tensions between local refiners and IOCs, threatening Nigeria’s energy security.
