Visblog

March 2026 | By Visblog Economics Correspondent Despite Dangote Refinery sourcing crude oil locally from NNPCL and refining it within Nigeria, petrol prices keep rising. We break down the six economic and structural reasons behind the paradox. Despite Dangote Refinery sourcing crude oil locally from NNPCL and refining it within Nigeria, petrol prices keep rising. We break down the six economic and structural reasons behind the paradox. For many Nigerians, the Dangote Refinery represented a turning point — the moment Africa's largest nation would finally stop exporting crude oil abroad, importing it back as refined fuel at ruinous foreign-exchange costs, and start keeping the value chain at home. President Bola Tinubu, Alhaji Aliko Dangote, and senior officials at the Nigerian National Petroleum Company Limited (NNPCL) all spoke, in various ways, about the relief the refinery would bring. And on paper, the logic is airtight. Nigeria sits atop some of the world...