Nigeria's fuel imports fall to 8-year low as Dangote refinery ramps up output.
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Nigeria's fuel imports have fallen to their lowest level in nearly eight years as Dangote refinery ramps up production and pushes out foreign suppliers.
Bloomberg reported that from January 1 to 24, 2025, Nigeria's fuel shipments reached about 110,000 barrels per day, according to data compiled by analytics firm Vortexa Ltd.
That's the lowest level since 2017, when imports topped 200,000 barrels per day and sometimes even 400,000 barrels per day. Experts say the Dangote refinery, which has the largest refining capacity in Africa and Europe, has disrupted global oil trade and pushed several European refiners out of the market. Although not yet operating at full capacity, Dangote's refinery is strengthening Nigeria's energy independence by reducing imports. "Much of the slowdown in Nigeria's gasoline imports is due to the growth of the Dangote refinery. "Northwestern Europe will have to find other destinations for its gasoline supplies," Vortexa analyst Samantha Hartke told Bloomberg.
Gasoline stocks held in independent warehouses in Amsterdam-Rotterdam-Antwerp — a major hub for Nigeria's barrel exports — have meanwhile hit a record high, according to figures from Insights Global.
Gasoline stocks in Amsterdam-Rotterdam-Antwerp, a major hub for Nigeria's exports, are believed to have hit record levels, according to data from Insights Global.
Dangote refinery ramps up production, set to receive 12 million barrels of U.S. crude
Dangote refinery is ramping up production to reach its full refining capacity of 650,000 bpd by the end of the first quarter of the year. Nairametrics said that to achieve this goal, the company is constructing new storage tanks with a combined capacity of 6.3 million barrels of crude oil to store imported crude oil.
According to a recent report by Africa Report, the company is set to receive a cargo of 12 million barrels of crude oil from the United States.
The shipment, which is said to have already left the United States, is expected to arrive in Nigeria next month.
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