Nigeria’s Petrol Imports Plummet as Dangote Refinery Scales Up Output
Nigeria’s petrol imports dropped sharply in June, reaching historic lows as the Dangote Refinery ramped up production, according to data from commodities analytics firm Kpler.
The report indicates that the country’s increasing domestic refining capacity—led by the 650,000 barrels-per-day Dangote plant—has drastically reduced reliance on imports from Europe, the UK, and Norway.
As a result, European gasoline shipments to West Africa fell to a four-month low of 926,000 metric tons in June, down from 1.315 million tons in May and 20 percent below volumes recorded during the same period last year.
For the first time, Nigeria—long the region’s top petrol importer—was surpassed by Togo in monthly import volumes, as the Dangote facility achieved its highest operational output since becoming active.
Kpler data shows that petrol exports from Europe to Nigeria plummeted by 56 percent in June to just 231,000 tons, marking the lowest level on record. Supplementary imports included 28,000 tons from offshore Lome and 12,000 tons from Houston, bringing total shipments to 271,000 tons.
At the same time, the Dangote Refinery began exporting petrol in substantial volumes, loading a record 252,000 tons in June. Export destinations included Oman (90,000 tons), Malaysia (89,000 tons), Ivory Coast (35,000 tons), with another 39,000 tons awaiting discharge.
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According to Edwin Devakumar, Executive Director at Dangote Group, the refinery has surplus capacity and recently began importing naphtha to enhance gasoline output. He added that the plant’s naphtha hydrotreating unit provides flexibility to scale production as needed.
These developments are positioning Nigeria to shift from being a net importer to potentially becoming a net exporter of petrol.
The reduced demand from Nigeria, combined with lower-than-expected U.S. gasoline consumption, is already impacting European fuel exporters. One European trader told Argus that Nigeria’s shrinking import appetite could create distribution challenges during the summer.
Despite the drop in demand, non-oxygenated gasoline barge cracks to front-month ICE Brent futures averaged $14.73 per barrel between July 1 and 4—nearly unchanged from $14.62 during the same period in 2024.
