Nigeria’s fuel importation is witnessing a historic decline, reaching its lowest level in eight years as the newly operational Dangote Refinery disrupts global fuel supply chains and boosts the country’s self-sufficiency.
Latest data from Vortexa Ltd., compiled by Bloomberg, reveals that Nigeria’s petrol imports stood at approximately 110,000 barrels per day between January 1 and January 24, 2025. If this trend continues, the country’s total imports for January will mark the lowest since 2017, signalling a major shift in Nigeria’s energy landscape.
The $20 billion Dangote Refinery, located in Lekki, Lagos, has been a game-changer. Owned by Africa’s richest man, Aliko Dangote, the refinery boasts a massive 650,000 barrels per day processing capacity, making it the largest refinery in Africa and a formidable force in the global oil industry. Equipped with state-of-the-art crude distillation, catalytic cracking, and hydroprocessing units, the facility is slashing Nigeria’s dependence on fuel imports while saving the country nearly $10 billion annually.
Nigeria’s reliance on foreign fuel has been a persistent challenge, but with Dangote Refinery ramping up production, petrol imports have plummeted. Just last October, the country imported 280,400 barrels, a steep drop from the 1.3 million weekly average recorded in August 2024. Now, the figure has declined even further.
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Industry experts confirm the drastic shift. Vortexa analyst Samantha Hartke told Bloomberg that Northwest Europe, a major supplier of gasoline to Nigeria, must now find alternative markets for its surplus fuel as Nigeria turns inward for its refining needs.
The impact is already being felt in international fuel hubs. Stockpiles of petrol in the Amsterdam-Rotterdam-Antwerp (ARA) region, a key European export zone for Nigeria, have surged to record levels as exports to the West African nation dwindle.
Meanwhile, global crude prices continue to fluctuate, dropping below $73 per barrel following policy shifts in the U.S. President Donald Trump’s latest tariff policies on Canada and Mexico have injected uncertainty into the market, affecting trade dynamics and oil futures.
With the Organization of Petroleum Exporting Countries (OPEC) set to meet on February 3, the world is closely watching how Nigeria’s oil strategy, powered by Dangote’s refinery, will further reshape fuel supply chains in Africa and beyond.
