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Nigeria Gasoline Imports Triple as Dangote Refอนไลน์

Bloomberg Markets •
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Nigeria’s gasoline imports more than tripled last month as the country’s main refinery shifted output toward export markets to boost foreign‑currency earnings. In June, the nation shipped 18.1 million liters of fuel per day, up from 5.6 million liters in May, according to the Midstream and Downstream Petroleum Regulatory Authority. Dangote Petroleum Refinery & Petrochemicals Fze, the continent’s largest facility, is prioritizing overseas sales because it struggles to secure dollars from the central bank and oil from the state‑owned Nigerian National Petroleum Co. under a naira‑for‑crude arrangement. “We are exporting as much as possible,” said Devakumar V. G. Edwin, group vice‑president, noting that selling in naira hampers the refinery’s ability to purchase feedstock.

Nigeria relies on the 700,000‑barrel‑per‑day Dangote refinery to infused fuel supply, which supplied 90% of the country’s gasoline in May. The plant’s “very little” local crude due to the inconsistent implementation of the naira‑for‑crude program has pushed the refinery to consider importing crude for export, potentially increasing imports the country has been trying to reduce.

This trend underscores the fragility of Nigeria’s fuel supply chain and the growing dependence on foreign exchange. With the central bank’s limited dollar reserves, the refinery’s export strategy may leave domestic consumers with fewer options, potentially driving up local prices.