As global oil markets reel from rising geopolitical tensions and unprecedented supply disruptions, the Dangote Refinery has reassured Nigerians that the country will continue to enjoy stable fuel supply despite the turbulence shaking the global energy market.

At a press briefing attended by journalists and industry observers, the refinery’s Managing Director, David Bird, delivered a detailed explanation of how global developments are influencing fuel pricing and supply, while emphasizing that Nigeria’s domestic refining capacity is proving critical at a time when many countries are struggling with shortages.

Calm, analytical and clearly at home in the complex world of global energy markets, Bird spoke with the authority of a seasoned industry leader. As Managing Director of the world’s largest single train refinery, he combines deep technical knowledge with a global perspective on energy economics, guiding the massive refinery through its early years of operation in one of the most volatile periods the oil industry has faced in decades.

“We are living in quite unprecedented times,” Bird said, referring to the escalating global tensions that have disrupted oil and gas supply chains across continents.

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According to him, the ripple effects of the crisis have gone far beyond crude oil prices, affecting freight, insurance, banking services and virtually every segment of the international oil and gas value chain.

Only a week earlier, he noted, crude oil prices had been relatively stable.

“If you go back a week, oil was trading in the mid-$60 range,” Bird explained. “Today it has touched about $118, almost $120. That’s nearly doubling within a week.”

The volatility, he said, is being felt across the entire refining industry worldwide.

Despite the global disruption, Bird emphasized that the presence of a domestic refining industry in Nigeria has significantly strengthened the country’s energy security.

“What would be worse than $120 oil is no oil,” he said. “Right now, Dangote Refinery is ensuring uninterrupted supply to the Nigerian economy.”

Across the world, several countries are already experiencing shortages and rationing fuel as supply chains tighten.

“In some developed countries you are already seeing panic buying and long queues at petrol stations,” Bird said, citing examples in markets such as Australia and the United Kingdom.

He explained that countries heavily dependent on imports are especially vulnerable when global supply disruptions occur. Nigeria, however, now has a strategic advantage.

“With a domestic refining industry supported by local crude production, we can continue to meet Nigeria’s refined fuel requirements,” he said.

Bird also used the briefing to explain how the refinery operates within the global market. Even under Nigeria’s crude-for-naira arrangement, the refinery purchases crude oil at international benchmark prices.

“We purchase Nigerian crude at internationally benchmarked prices,” he said. “We also pay international freight rates and insurance rates to transport that crude.”

In addition, a portion of the refinery’s crude supply is purchased directly on the open market, often through international traders.

“Those cargos sometimes pass through multiple traders before reaching us, which adds additional cost,” Bird explained.

Despite these complexities, the refinery continues to operate at full capacity.

Bird revealed that the facility is currently refining about 650,000 barrels of crude oil per day, its official nameplate capacity.

“We actually achieved 661,000 barrels per day during performance testing,” he said, noting that the refinery is gradually working toward increasing output to about 700,000 barrels per day.

Fuel supply, he added, remains strong.

The refinery is currently capable of producing between 50 and 55 million litres of petrol daily, far exceeding Nigeria’s estimated demand of about 35 million litres per day.

“With blending capability, we can even increase that to about 65 to 75 million litres per day,” Bird said.

He dismissed recent reports suggesting the refinery had halted product loading, explaining that operations had only paused briefly to update pricing systems after global oil prices surged dramatically.

“Dangote Refinery is fully open for business,” he said. “Truck gantries are ready, and we will continue to prioritize domestic supply.”

Bird also stressed that Nigeria’s domestic refining capacity is now acting as a buffer against global shocks.

The ongoing disruptions in the Middle East, which accounts for roughly 20 percent of global crude supply, have already forced several countries to restrict exports and protect their domestic markets.

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China, for example, has halted fuel exports to preserve supply for its own economy.

In such an environment, Bird said, Nigeria must focus on securing crude supply for its domestic refining industry.

“The role of Nigeria right now is to look after Nigerians,” he said. “That means ensuring the domestic refining industry has reliable access to crude.”

For the Dangote Refinery, the mission remains clear.

“Our commitment is to ensure supply security for Nigeria,” Bird said. “We will continue to process crude, prioritize domestic supply and maintain fuel availability.”

As global energy markets brace for more uncertainty in the weeks ahead, the refinery’s leadership believes Nigeria is better positioned than ever before.

For Bird and his team, the objective is simple but vital: ensuring that Africa’s largest economy never returns to the era of crippling fuel shortages.