The Organisation of the Petroleum Exporting Countries (OPEC) has reported that the Dangote Petroleum Refinery has significantly reduced Nigeria’s reliance on refined fuel imports from Europe.
In its January 2025 Monthly Oil Market Report, OPEC noted that increased gasoline production from the Lagos-based refinery is reshaping global fuel trade, forcing European exporters to seek new markets.
“The ongoing ramp-up at Nigeria’s Dangote refinery and its gasoline exports will likely impact Europe’s gasoline market, requiring adjustments in global supply flows,” the report stated.
Nigeria, long dependent on fuel imports due to dormant state-owned refineries, has struggled with fuel shortages and soaring petrol prices—rising from ₦200 to ₦1,000 per litre after the 2023 subsidy removal.
Aliko Dangote’s $20 billion refinery, operational since December 2023, currently produces 350,000 barrels per day, with plans to reach its 650,000-barrel capacity by year-end.
The refinery has already begun supplying diesel, petrol, and aviation fuel to local marketers.
