The recent revelations by Mr. David Bird, CEO of the Dangote Group, on the Arise TV morning show on Tuesday 25th March, 2026 have laid bare the entrenched machinations of Nigeria’s crude oil cabal, a behemoth that appears to be alive and thriving. Mr. Bird’s revelation suggests that the agreement for Naira payment for crude oil, which was touted as a transparent process by government, appears mired in opacity, with the allocation methodology being fraught with discrepancies. This is hardly surprising, given the notorious corruption mantra of the Nigerian National Petroleum Company Limited (NNPCL).
Of particular concern is the apparent breach of agreement by NNPCL, which has reduced crude oil supplies to the Dangote Refinery from the agreed 15 cargoes to a paltry 5 monthly. The egregious nature of this agreement breach is even more compounded by the fact that the same Nigerian crude is being sold to international oil merchants, only to be repurchased by Dangote at an inflated 18 dollar mark up above market rates. The cabal would rather sell to international marketers ostensibly to make a cut from the 18 dollars top up. This is a blatant display of avarice, wickedness and callousness. This disregard for the welfare and happiness and well-being of majority Nigerians is a stark reminder of the unyielding grip of corruption on the nation’s oil sector.
The implications of this development are far-reaching, with the potential to undermine the viability of the Dangote Refinery, which is a flagship project touted as a game-changer for Nigeria’s economy. The refinery, which is expected to meet domestic demand for petroleum products and potentially generate significant revenue for the government, is being strangled by the very entity tasked with ensuring its success.
The NNPCL’s actions, or lack thereof, have raised concerns about the government’s commitment to creating an enabling environment for businesses to thrive in Nigeria.
Furthermore, Mr. Bird’s lamentation on the exorbitant rates imposed by regulatory bodies in Nigeria, which have rendered the cost of doing business in the country prohibitive, underscores the government’s apparent apathy towards the plight of pedestrian contingent. The fact that these costs will ultimately be transferred to consumers, as the Dangote Refinery seeks to recoup its costs and also make profit, is a damning indictment of a government that seems to have abandoned its responsibility to protect the welfare of its people.
The APC-led government would do well to take note of these revelations and address the systemic challenges bedeviling the nation’s oil sector, otherwise it will continue to perpetuate a regime of economic inequity and hardship on the Nigerian people. The Nigerian public is watching but most are helpless, and the expectation is that those in power will take concrete steps to dismantle the crude oil cabal and ensure that the nation’s resources are harnessed for the benefit of all Nigerians.
Frederick Braimah. Ph.D.
Elizade University, Ilara-mokin. Ondo State, Nigeria.
25th March, 2026.
Gatekeepers News is not liable for opinions expressed in this article; they’re strictly the writer’s
