Nigeria’s Gasoline Imports Hit Lowest Level in Years Amid Dangote Refinery Surge
Nigeria’s gasoline imports have fallen to their lowest levels in nearly six years, driven by the increasing production from the Dangote refinery, which is now integrating into the local market and diminishing reliance on foreign suppliers. Recent data from analytics firm Vortexa Ltd., reported by Bloomberg, indicates that from January 1 to January 24, 2025, Nigeria’s fuel shipments averaged approximately 110,000 barrels per day (bpd). This marks a significant decrease from 2017, when imports frequently exceeded 200,000 bpd, at times surpassing 400,000 bpd.
Industry experts attribute this downturn in gasoline imports primarily to the operational ramp-up of the Dangote refinery, which boasts the highest refining capacity in both Africa and Europe. As the refinery begins to displace some European refineries in the market, analysts suggest it is reshaping the global oil trade landscape. “A considerable portion of the slowdown in Nigeria’s gasoline imports can be traced back to the increased output from the Dangote refinery. Northwest Europe will need to seek alternative markets for its gasoline supplies,” commented Vortexa analyst Samantha Hartke.
In addition, gasoline stockpiles in the Amsterdam-Rotterdam-Antwerp area—a critical export hub for deliveries to Nigeria—have reached unprecedented levels, as detailed by Insights Global data. This follows the trend of rising inventories as the demand from Nigeria declines.
The Dangote refinery is on track to boost production to its maximum capacity of 650,000 bpd by the end of the first quarter of the year. Nairametrics has reported that to facilitate this expansion, the refinery is constructing new storage tanks that will hold a combined capacity of 6.3 million barrels of crude oil sourced from imports.
According to a recently published report by Africa Report, the Dangote refinery is set to receive a significant shipment of 12 million barrels of crude oil from the United States, which is already en route and expected to arrive next month.
Here are key points to consider:
Dangote’s Premium Motor Spirit (PMS) is currently being exported to several African nations, including Ghana, Togo, Cameroon, South Africa, and Angola, in addition to shipments to Europe.
The Lagos-based Dangote Refinery is depending on U.S. crude imports to ramp up its production since it has struggled to procure crude supplies domestically.
Consequently, the refinery has significantly reduced Nigeria’s imports of refined petroleum products while simultaneously exporting to various countries.
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