Nigeria Becomes Net Gasoline Exporter with Dangote Refinery

Nigeria has transitioned into a net exporter of gasoline for the first time, attributed to the operations of the Dangote Refinery. According to market intelligence firm Kpler, gasoline imports into Nigeria dropped sharply to 41,000 barrels per day in March, the lowest level recorded.

The Dangote Refinery, which commenced operations in late 2023, has significantly increased its output to 565,000 barrels per day, marking the second highest intake of 650,000 barrels per day. In March, the refinery exported 44,000 barrels per day, compared to no exports in January and February, allowing Nigeria to achieve a net export position of approximately 3,000 barrels per day.

The refinery's gasoline exports have reached East Africa, with a shipment of 317,000 barrels to Mozambique, reflecting growing regional demand. This development is expected to reshape trade flows and intensify competition in the global market, while also contributing to Nigeria's goal of self-sufficiency in petroleum products.

Aliko Dangote, the President and Chief Executive of Dangote Industries, has praised President Bola Ahmed Tinubu's ongoing economic reforms in the energy sector.