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April 2, 2026

Business, News, Photo, Politics

Tinubu Hosts Chad’s President, Moves to Deepen Security, Trade Ties

President Bola Tinubu on Thursday received his Chadian counterpart, Idriss Déby, at the Presidential Villa in Abuja, in a move aimed at strengthening bilateral relations and regional cooperation.

The high-level engagement, held behind closed doors, focused on key areas including security collaboration, trade expansion, and economic development between Nigeria and Chad.

Focus on Regional Security

Both leaders are understood to have discussed pressing security challenges in the Lake Chad Basin, where insurgency and cross-border threats continue to impact stability.

Nigeria and Chad have long been strategic partners in regional security efforts, working jointly to combat terrorism and maintain peace within the basin.

Strengthening Bilateral Cooperation

The meeting underscores renewed efforts to deepen diplomatic and economic ties, with both countries seeking stronger collaboration across multiple sectors.

Analysts say such engagements are critical as African nations increasingly pursue joint solutions to shared challenges, particularly in security and economic resilience.

Part of Broader Regional Engagement

Déby’s visit is seen as part of wider efforts to reinforce multilateral cooperation in the region, especially among countries affected by instability around the Lake Chad Basin.

The talks also come ahead of Tinubu’s planned visit to Jos, Plateau State, where he is expected to commiserate with victims of recent attacks.

Outlook

The Abuja meeting signals continued commitment by both nations to strengthen strategic ties, with a focus on stability, economic growth, and regional integration.

Business, Feature, News, Photo

NNPC to Raise Crude Supply to Dangote Refinery, Industry Says More Needed

The NNPC Limited has concluded plans to increase crude oil supply to the Dangote Petroleum Refinery to seven cargoes in May 2026, up from the five cargoes delivered in recent months.

The move signals a renewed push to prioritise domestic crude allocation as Nigeria seeks to strengthen local refining capacity and reduce reliance on fuel imports.

Supply Increase Falls Short — Experts

Despite the planned increase, industry stakeholders say the volume remains insufficient for the refinery’s scale.

The facility, with a capacity of 650,000 barrels per day, requires significantly higher crude intake to operate optimally.

Colman Obasi, President of the Oil and Gas Services Providers Association of Nigeria, warned that the additional cargoes may not meet demand.

“Seven cargoes are still inadequate considering the refinery’s capacity. Nigeria must prioritise domestic supply, especially amid global disruptions,” he said.

Refinery Needs Up to 15 Cargoes Monthly

Chief Executive Officer of the refinery, David Bird, recently revealed that under the crude-for-naira arrangement, the plant is expected to receive between 13 and 15 cargoes monthly.

However, current deliveries remain far below that threshold.

“We are only getting five cargoes at the moment, which is below the agreed volume needed to meet Nigeria’s fuel demand,” he noted.

Push for Domestic Refining Gains Momentum

Analysts say increasing crude allocation to local refineries is critical for conserving foreign exchange and strengthening Nigeria’s energy security.

An industry expert noted that as a major oil producer, Nigeria should prioritise domestic refining over exports to reduce fuel import dependence.

Crude-for-Naira Policy Under Scrutiny

Bird also addressed concerns around the controversial crude-for-naira policy, clarifying that the initiative is designed to stabilise foreign exchange rather than benefit a single refinery.

He warned that gaps between crude purchase prices and international premiums are currently resulting in revenue losses to foreign traders instead of Nigeria.

Outlook

While the planned increase marks progress, stakeholders insist that more aggressive supply commitments will be needed to fully unlock the refinery’s potential and meet domestic fuel needs.

With global oil markets facing uncertainty, pressure is mounting on authorities to align crude supply with Nigeria’s refining ambitions.

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