Dangote Refinery Cuts West Africa Fuel Imports by 23%

The Dangote refinery has led to a substantial reduction in clean petroleum product imports in West Africa, with volumes decreasing from 997,000 barrels per day in April to 765,000 barrels per day in May, representing a 23% decline. According to a report by S&P Global and BIMCO, this decline is linked to the refinery's expansion of output, which has displaced import volumes across the region.

The report indicates that overall ton-mile trade patterns have adjusted due to new supply realities, with product tanker ton-miles experiencing a significant drop. The Nigerian clean petroleum product imports are projected to decline by 39% year-on-year by mid-2025.

The Dangote refinery, expected to reach a capacity of 650,000 barrels per day by February 2026, is anticipated to supply approximately 80% of Nigeria's gasoline demand. The shift in supply dynamics has altered the role of Lome, Togo, as a major offshore import storage hub, and has increased regional shuttle voyages, replacing long-haul imports.