Following an ambitious goal to refine oil in Nigeria for the first time in decades, the Nigerian industrialist, Aliko Dangote, has now set his sights on crude oil exploration. The initial date for this had been sometime in Q4 of 2024, however, Dangote’s crude production would begin in 2025.
This decision to commence oil exploration follows two months of crude supply dispute between Dangote and Nigerian authorities.
Aliko Dangote aims to begin crude oil exploration in Nigeria by 2025.
S&P Global Commodity Insights, released a report, highlighting Dangote’s objective to begin oil production by 2025, at its two oil properties in the southern state of Delta in Nigeria.
“The company source said production at the company’s two Niger Delta upstream projects in Oil Mining Leases 71 and 72 would start at around 20,000 b/d, before ramping up further in the first quarter of 2025,” the report revealed.
Share Listen to this article By Suleman Chitera Read moreBon Kalindo Hits Back on Onjezani Kenani over Britain Interference on Malawi SecurityMalawi has officially unveiled a 24-member national team that will represent the country at the 2026 Commonwealth Games in Glasgow, Scotland, with hopes of securing the nation’s first-ever medal at the prestigious multi-sport event.… Read more: Team Malawi Unveils 24-Member Squad for Glasgow 2026
Share Listen to this article By Suleman Chitera Read moreMalawi Government Faulted Over Arrests of Coup SuspectsNational Bank of Malawi (NBM) plc has given K20 million to the Minority Shareholders Association of Listed Companies (MISALICO) in support of their upcoming Clergy Financial Literacy Programme. The programme, scheduled to take place in Mzuzu this August, aims… Read more: NBM plc supports MISALICO financial literacy program with K20 million
Share Listen to this article By Staff Reporter Read moreAllegations of a coup plot sour diplomatic tiesThe Centre for Democracy and Economic Development Initiatives (CDEDI) has called on the Anti-Corruption Bureau (ACB) to investigate the Beautify Malawi (BEAM) Foundation, an organisation led by Malawi’s First Lady, Gertrude Mutharika, over the source of K17.79 billion reportedly… Read more: Questions Over K17.79 Billion: CDEDI Wants ACB to Probe First Lady’s BEAM Foundation
Share Listen to this article By Suleman Chitera Read moreAllegations of a coup plot sour diplomatic tiesEvery year, Malawi loses billions of kwacha that could have been used to connect thousands of homes to electricity. Instead, the money is spent replacing stolen transformers, damaged power lines and other vandalised infrastructure, slowing the country’s march towards… Read more: Vandalism Costs ESCOM K3 Billion Every Year
Share Listen to this article By Suleman Chitera Read moreAllegations of a coup plot sour diplomatic tiesMZUZU – Rising mobile internet costs are placing growing pressure on students and young people in Mzuzu, with many saying expensive data bundles are limiting access to online learning, job opportunities and other essential digital services. University students and… Read more: High Internet Costs Squeeze Students, Youth in Mzuzu as Data Prices Rise
Share Listen to this article By Suleman Chitera Read moreBiography Of Zuneth SattarMalawi’s First Lady, Madam Gertrude Mutharika, is set to lead the official send-off ceremony for the Malawi National Women’s Football Team, the Scorchers, as the nation rallies behind the squad ahead of its historic debut at the 2026 Women’s Africa Cup of Nations… Read more: First Lady Gertrude Mutharika to Lead Scorchers’ WAFCON Send-Off as K1 Billion Fundraising Drive Begins
Share Listen to this article By Our Reporter Read moreZuneth Sattar: Demand for UK Newbuilds Increases by 66%Morocco have earned US$20.5 million (approximately K35.5 billion) from FIFA after reaching the quarter-finals of the FIFA World Cup currently underway in the United States. The prize money includes US$19 million awarded to teams that reach the quarter-finals,… Read more: Morocco Earn US$20.5 Million Despite World Cup Quarter-final Exit
Share Listen to this article By Suleman Chitera Read moreAllegations of a coup plot sour diplomatic tiesFormer Silver Strikers and Moyale Barracks forward Khuda Muyaba has begun training with Masters FC in Lilongwe as the club moves closer to securing his services ahead of the new season. Muyaba, one of Malawi’s experienced attacking players, has… Read more: Khuda Muyaba Set to Join Masters FC as Lilongwe Side Strengthens Squad
According to the Punch, this information was confirmed by a senior official at the Dangote refinery on Saturday as he responded to the report by S&P Global Commodity Insights.
“Yes, I saw the S&P report; our company is truly going to start crude oil production to support the refinery, but it is going to start in the first quarter of 2025,” the senior official relayed.
Dangote’s crude saga
The distribution of refined petrol from the Dangote refinery, has been subject to several delays, owing to an intense debacle between the refinery and the government, concerning the sale of crude.
NNPCL has been accused of preventing Dangote from accessing locally produced petroleum
There were accusations that the Nigerian National Petroleum Company Limited (NNPCL) was preventing Dangote from accessing locally produced petroleum by either selling it above market price, selling it in US dollars as opposed to the Naira, and a claim that crude was unavailable.
At the time, the Dangote refinery was forced to purchase oil from the international market, including Brazil and the United States at a very expensive rate.
Following these adverse events, Dangote, according to the report, decided to initiate crude production at its two Niger Delta upstream projects in Oil Mining Leases 71 and 72, starting with around 20,000 barrels per day and scaling up further in the first quarter of 2025.
Additionally, Dangote is also looking for a floating production, storage, and offloading vessel capable of carrying 650,000 barrels of petroleum.
