Nigeria's Oil Refining Sector Grows 43.94% in Q2 2026

In Q2 2026, Nigeria's oil refining sector recorded a remarkable growth of 43.94% year-on-year, as reported by the National Bureau of Statistics (NBS) on August 31, 2026. This growth is primarily attributed to the Dangote Petroleum Refinery, which increased its crude oil distillation capacity from 650,000 barrels per day (b/d) to 700,000 b/d following maintenance and expansion work completed in February 2026.

The refinery significantly contributed to domestic crude oil and condensate supply, which reached 97.4% in Q2 2026, with 53.7 million barrels supplied between April and June. This marked a substantial improvement from Q1 2026, where only 28.5 million barrels were delivered to all domestic refineries.

The increase in refining activity has also led to a rise in Nigeria's petroleum product exports, reaching 350,000 b/d in Q2 2026, compared to an annual average of 46,000 b/d in 2023. The oil sector's contribution to real GDP rose to 4.16%, reflecting broader improvements in Nigeria's economic landscape.