Nigeria recorded a historic shift in its downstream petroleum trade in March, emerging as a net exporter of gasoline for the first time, driven largely by rising output from the Dangote Petroleum Refinery & Petrochemicals.
Data from market intelligence firm Kpler showed that gasoline imports into the country dropped sharply to 41,000 barrels per day (b/d) during the month, the lowest level on record. At the same time, crude supply to the Dangote facility rose to about 565,000 b/d, the second-highest intake since the 650,000 b/d refinery commenced operations in late 2023, indicating strong processing rates and increased product yield.
Total gasoline exports from the refinery rose to 44,000 b/d in March, compared to no exports recorded in January and February. This shift enabled Nigeria to post a net export position of approximately 3,000 b/d for the month.
In expanding its market reach, the Dangote Refinery exported gasoline to East Africa for the first time, shipping a 317,000-barrel cargo to Mozambique. The move reflects growing demand in the region as buyers seek alternatives to Middle East Gulf supplies amid ongoing disruptions. Another April shipment from the refinery is also bound for Beira, Mozambique.
Nigeria’s emergence as a gasoline exporter is expected to reshape regional trade flows and intensify competition in global markets. Analysts note that the development adds pressure to Europe’s already oversupplied gasoline market, as Nigeria transitions from a key import destination to a potential competing supplier.
The March milestone signals a significant step in Nigeria’s drive towards self-sufficiency in refined petroleum products and its ambition to become a net exporter in the global energy market.
President/Chief Executive, Dangote Industries Limited, Aliko Dangote, recently described President Bola Ahmed Tinubu’s ongoing economic and energy sector reforms as critical to restoring market confidence and enabling large-scale investments in domestic refining.
Comment here