The Iran USA Israel war is getting out of hand and is already affecting Nigeria’s economy. Many Nigerians often wonder why the Dangote Refinery alone cannot supply enough fuel to sustain the country.
The answer is yes, it can meet Nigeria’s needs, based on its production capacity of about 650,000 barrels per day. It can produce petrol (PMS), diesel, and aviation fuel.
However, the problem is that crude oil prices are determined globally. The refinery can meet Nigeria’s demand but cannot control the price of fuel. According to findings, Dangote has to buy crude oil at international market prices in order to refine it, even if the crude oil is produced or discovered in Nigeria. In addition, the naira to dollar exchange rate is still affecting us.
This is what Iran wants to address. Iran wants China’s currency to be used as a means of global exchange or to replace the dollar. Meanwhile, many Nigerians view the Iran Israel USA war as a religious issue, but if you ask the average American citizen, they will tell you that it goes beyond religion.
Sharp, you actually made some really good points here especially about the global oil price and the dollar affecting us but I feel like that it is not that simple to say that Dangote refinery alone can fully handle Nigeria fuel needs because there are still other issues like distribution and how everything are being managed. Also about this Iran USA and Israel matter you made mention, the matter is bigger than just religion and currency o, this things usually involve many interest at the same time such as security and economics not just one agenda. So this problem of global oil pricing and exchange rate is more than just refinery capacity or international issue alone. BELIEVE!
