Nigeria’s fuel imports have dropped to the lowest in almost eight years, as the Dangote refinery ramps up production and pushes out foreign suppliers.
Bloomberg reported that from January 1 to 24, 2025, shipments of fuel into Nigeria stood at about 110,000 barrels a day, based on data compiled by analytics firm Vortexa Ltd.
This is the lowest since 2017 when imports used to be above 200,000 barrels per day, and sometimes as high as above 400,000 bpd.
Experts say the Dangote refinery, which has the highest refining capacity in Africa and Europe has disrupted global oil trade and pushed some refineries in Europe out of the market.
Even though it is not operating up to its full capacity yet, the Dangote refinery is boosting Nigeria’s fuel independence by reducing imports.
“A large part of the slowdown in Nigeria’s gasoline imports is due to the ramp-up of the Dangote refinery. Northwest Europe will have to find alternative homes for its gasoline supplies,” Vortexa analyst Samantha Hartke told Bloomberg.
Stockpiles of gasoline held in independent storage in Amsterdam-Rotterdam-Antwerp — a key exporting hub for barrels to Nigeria — have meanwhile hit a record high, according to figures from Insights Global.
Stockpiles of gasoline in Amsterdam-Rotterdam-Antwerp, a major export hub to Nigeria, have reportedly surged to record highs, according to Insights Global data.
The Dangote refinery is ramping up production to reach its full refining capacity of 650,000 bpd by the end of the first quarter of the year.
In order to achieve this target, the company is building new storage tanks with a combined capacity to hold 6.3 million barrels of crude oil to store imported crude.
According to a recent report by Africa Report, the company is set to receive a shipment of 12 million barrels of crude oil from the United States.
The shipment which has reportedly left the U.S. already is set to arrive in Nigeria in February.
