Dangote Controls 92% of Nigeria's Petrol Market Supply

Dangote's refinery has taken command of Nigeria's petrol market, accounting for 92% of the daily petrol supply as of February 2026, which is valued at N14.4 trillion annually. The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) confirmed that no petrol import licenses have been issued this year, indicating that local production is sufficient to meet national demand.

The refinery produces approximately 36.5 million liters of petrol daily, with imports contributing only three million liters. This significant shift has raised concerns among stakeholders, including energy experts and economists, about potential monopolistic practices and market manipulation.

Wale Edun, the Minister of Finance, emphasized that the government would not intervene in market prices unless absolutely necessary. Professor Emeritus Wumi Iledare warned that the announcement could trigger speculative behavior in the market.

The NMDPRA's decision marks a pivotal change in Nigeria's downstream petroleum sector, aiming for a competitive market rather than reliance on imports.