Even if Dangote Starts Working, We Will Not Get Fuel Cheap, Because He Imports the Crude- Okonkwo

Kenneth Okonkwo, spokesperson for Atiku Abubakar’s presidential campaign, has argued that Nigerians may not enjoy cheaper fuel despite the operations of the Dangote Refinery, citing its dependence on imported crude oil.

Okonkwo made the remarks during an interview on Channels Television’s Inside Sources on Sunday, October 11, 2026, while discussing domestic refining capacity and the factors influencing petrol prices in Nigeria.

According to him, the refinery requires about 700,000 barrels of crude oil daily to meet its needs but receives only about 20 per cent of that volume locally, leaving it to source a substantial portion from international markets.

“He said he needs about 700,000 barrels of oil per day. He is getting about 20 per cent. Twenty-something per cent is nothing. So he is still importing about 500,000 barrels per day,” Okonkwo said.

He argued that the refinery’s dependence on imported crude could limit the extent to which its operations would translate into lower petrol prices for Nigerians.

“That was why I said that even if Dangote starts working, we will not get our fuel cheap, because he imports the crude,” he added.

Okonkwo explained that sourcing crude oil internationally exposes the refinery to fluctuations in global oil prices, which could affect its production costs and, ultimately, the price of refined petroleum products.

He also pointed to other operational expenses, including electricity, security and borrowing costs, as factors that could contribute to the cost of producing fuel locally.

The Atiku campaign spokesperson maintained that improving domestic crude supply to local refineries would be important in reducing production costs and making petroleum products more affordable.

His comments come amid ongoing discussions about Nigeria’s ability to meet its domestic fuel needs through local refining and the extent to which increased domestic production can reduce the country’s exposure to international oil market pressures.

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