WorldStage– Nigeria’s petroleum import fell to 4100 b/d in March, the lowest ever, while crude supply to Dangote Petroleum Refinery rose to 56500 b/d, the second highest since the refiner began operation in 2023.
Market intelligence firm Kpler revealed this for the past month, highlighting Nigeria’s progress towards becoming a major oil exporter in Africa, and the role Africa’s biggest private refinery is playing in this.
The refinery exported gasoline to East Africa for the first time in March, delivering a 317,000 barrel cargo to Mozambique. Another gasoline cargo is heading to Beira, Mozambique, in April. East African buyers are diversifying supply sources following the on-going Middle East supply disruptions.
Its daily petroleum export for the month stood at 44,000 barrels, with a surplus of approximately 3,000 b/d during, making Nigeria a net exporter of petrol for the first time ever.
Dangote Industries Limited President Aliko Dangote recently commended President Bola Ahmed Tinubu for the reforms that restored investor confidence and created the policy environment for large-scale investments in domestic refining.
The Tinubu administration, using the Petroleum Industry Act as its policy thrust, prioritizes increase in crude production and further liberalization of the sector to stimulate investment in the value chain, including local refining.
Analysts also say Nigeria’s transition from a major gasoline importer to an exporter will reshape regional trade flows and intensify competition in global fuel markets.
