Nigeria's Refining Sector Grows 43.94% in Q2 2026

In the second quarter of 2026, Nigeria's oil refining sector achieved a remarkable growth of 43.94% year-on-year, as reported by the National Bureau of Statistics. This growth is attributed to heightened operations at the Dangote Petroleum Refinery, which completed maintenance and expansion work in February 2026, increasing its crude distillation capacity from 650,000 barrels per day to 700,000 barrels per day.

The refinery's demand for crude was significant, requiring 63 million barrels during the quarter, while domestic producers offered 68.1 million barrels, with Dangote accepting 52.6 million barrels, approximately 78% of the volume offered. The sector's output value surged from about N2.46 billion in Q1 2026 to N5.36 billion in Q2 2026, marking a 90.85% year-on-year increase.

This expansion reflects the growing importance of domestic refining in Nigeria, which has historically depended on imported refined products despite being a major crude oil producer.