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Dangote Refinery

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Nigeria

Crude Oil Imports Hit Record High as Dangote Refinery Reshapes Nigeria’s Trade Flow

Nigeria’s crude oil imports surged by 26.5% in the first half of 2025, reaching 5,665,602 metric tons, compared to 4,478,413 metric tons in the same period of 2024, according to fresh data from the Nigerian Ports Authority (NPA). The rise has been largely attributed to the 650,000 barrels per day Dangote Petroleum Refinery, which has been sourcing crude oil from countries including the United States, Brazil, Angola, and Equatorial Guinea. Financial Vanguard’s quarterly analysis shows a mixed trend: Q1 2025: Imports dropped to 2,400,553 MT, down 30% from Q1 2024 (3,037,209 MT). Q2 2025: Imports spiked to 3,265,099 MT, a 126% increase compared to Q2 2024 (1,441,204 MT). The Dangote Refinery, which began refining diesel and aviation fuel in January 2024, has since become a key player in both domestic and global energy trade, exporting petroleum products while importing crude […]

Abdulmumini Auwal SA September 22, 2025

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Nigeria

Nigeria loses N3.18tn in crude earnings despite output growth

Nigeria’s crude oil export earnings fell by N3.18 trillion in H1 2025, even as production rose by nearly 13 per cent, according to the National Bureau of Statistics (NBS). Crude exports totalled N24.92tn between January and June 2025, down from N28.10tn in the same period of 2024 — an 11.3% year-on-year decline. By contrast, crude output climbed to 266.9m barrels in H1 2025, up from 236.7m barrels in H1 2024, data from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) showed. Quarter-by-quarter breakdown Q1 2025: Crude exports N12.96tn vs N15.49tn in Q1 2024 (-16.3%). Q2 2025: Crude exports N11.97tn vs N12.61tn in Q2 2024 (-5.1%). Crude’s share of total exports fell sharply: From 80.8% in Q1 2024 to 62.9% in Q1 2025. From 71.2% in Q2 2024 to 52.6% in Q2 2025. Non-crude exports surge Non-crude exports more than doubled to […]

Abdulmumini Auwal SA September 15, 2025

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new africa

Importers: Dangote Petrol N65 Cheaper in Togo Than Nigeria

Fuel importers have alleged that the Dangote Refinery sells petrol to international traders in Lomé, Togo, at prices N65 cheaper per litre than those offered to Nigerian marketers. The claim was confirmed in separate interviews by the Depot and Petroleum Product Marketers Association of Nigeria (DAPPMAN) and the Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN). Dangote Refinery recently announced a price cut — from N865/litre to N841 in Lagos/Southwest, and N851 in Abuja, Edo, and Kwara — alongside its direct fuel distribution rollout. But marketers argue the refinery undercuts local buyers by giving discounts abroad. DAPPMAN’s Executive Secretary, Olufemi Adewole, told Sunday PUNCH that members had purchased Dangote’s fuel in Lomé at cheaper rates than locally, saying: “Dangote is selling to international traders at N65 lower than what he is selling to us. We’ve even bought from those […]

Abdulmumini Auwal SA September 14, 2025

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international

Dangote Refinery Exports First Gasoline Cargo to U.S.

The Dangote Refinery has achieved another milestone by exporting its first gasoline cargo to the United States, underscoring its growing presence in the global energy market. According to trade data from Kpler, the Gemini Pearl vessel loaded about 300,000 barrels of gasoline at Dangote’s Port on August 26, 2025, and is expected to discharge in either New York or New Jersey. While the company has yet to officially confirm the development, market sources suggested that Vitol, a leading global energy trader, may have chartered the vessel. A New Chapter for Nigerian Exports This marks the first-ever Nigerian gasoline cargo shipped to the U.S., although Dangote has already established a foothold in Asian and Middle Eastern markets. In June and July, the refinery exported three LR2 cargoes — two to the Middle East Gulf and one to Singapore. Traders said the […]

Abdulmumini Auwal SA September 3, 2025

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Finance

House of Reps Launches Major Probe Into Nigeria’s Refinery Maintenance, Dangote Dominance

National Assembly Takes On Oil Sector Challenges The House of Representatives Committee on Petroleum Resources (Downstream) has initiated a sweeping investigation into critical issues plaguing Nigeria's oil sector: 🛢️ Failed Refinery Maintenance: Examining Port Harcourt/Warri refinery shutdowns⚖️ Market Competition: Probing Dangote Refinery's alleged dominance📜 Regulatory Gaps: Reviewing PIA amendments for sector strengthening "We're not protecting anyone - corruption will face the law" - Rep. Ikenga Ugochinyere 5 Key Areas Under Investigation 1️⃣ Turnaround Maintenance Controversy Why reputed contractors failed to deliver working refineries Determining accountability for billions spent 2️⃣ Crude Supply Bottlenecks Why local refiners negotiate in Switzerland for Nigerian crude Addressing supply challenges for modular refineries 3️⃣ OVH Energy Acquisition Reopening probe into NNPCL's takeover deal Reviewing staff complaints from former OVH employees 4️⃣ Market Monopoly Concerns Investigating Dangote's potential control over product distribution Assessing impact on independent marketers' investments 5️⃣ PIA Implementation Gaps Identifying necessary amendments to petroleum law Strengthening NMDPRA's regulatory […]

Ahmad July 24, 2025

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Finance

Africa Loses $90bn Yearly to Substandard Fuel Imports — Dangote Sounds Alarm

Africa’s $90 Billion Fuel Crisis: Dangote Exposes Costly Dependency Aliko Dangote, President of Dangote Industries, dropped a bombshell at the West African Refined Fuel Conference in Abuja: 🔥 $90 billion lost yearly – Africa’s cost for importing substandard fuel🛢️ 120 million tonnes imported – Despite continent producing 7M barrels/day⚠️ Toxic dumping – Low-quality Russian-blended fuels flooding African markets "We’re exporting jobs and importing poverty." — Dangote The Stark Reality of Africa’s Refining Gap By the Numbers:▸ Only 40% of Africa’s 4.3M bpd fuel demand is refined locally▸ Europe/Asia refine 95%+ of their consumption▸ 15 African nations have GDPs smaller than $90bn Dangote’s Challenge:"Why export crude only to buy back refined products at premium prices?" Inside Dangote Refinery’s Herculean Build 🏗️ Project Scale:• 2,735 hectares cleared (7x Victoria Island)• 65M cubic meters of sand pumped to stabilize swampland• 67,000 workers at peak (50,000 Nigerians) 🌍 Industrial Ecosystem Created:✔ Dedicated seaport (Nigerian ports couldn’t handle equipment)✔ World’s largest granite quarry (10M tonnes/year capacity)✔ 2,500+ heavy […]

Ahmad July 23, 2025

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Finance

Dangote Refinery Offers Free Fuel Transport to All Marketers, Dealers

Dangote Launches Nationwide Fuel Delivery Initiative The Dangote Petroleum Refinery has announced a major new fuel distribution plan set to begin on August 15, 2025 . Under the initiative, the company will offer free transportation of Premium Motor Spirit (PMS) , diesel , and aviation fuel to: Fuel marketers Petrol station dealers Manufacturers Telecom companies Aviation sector Other large consumers This move aims to improve fuel access, cut costs, and reduce inflation linked to high energy prices. New Tankers, Lower Prices, Cleaner Environment As part of the rollout, Dangote plans to deploy 4,000 brand-new Compressed Natural Gas (CNG)-powered tankers . Experts say this could disrupt the current oil supply chain by reducing reliance on middlemen and lowering emissions. Public analyst Dr. Abimbola Oyarinu said the policy could weaken the influence of powerful intermediaries who have long controlled fuel logistics in […]

Ahmad June 17, 2025

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Finance

Dangote Refinery Slashes Petrol Prices by ₦15/Litre: New Rates Hit ₦875 in Lagos, Boost ‘Nigeria First’ Push

Dangote Refinery Cuts Petrol Prices by ₦15/Litre: Regional Rates and Strategic Impact In a bold move to ease economic pressures and align with the federal government’s ‘Nigeria First’ policy, Dangote Refinery has announced a ₦15 per litre reduction on petrol prices nationwide. The new pricing, effective immediately, marks the refinery’s third price cut in 2025 and underscores its commitment to affordable, locally produced energy. New Petrol Prices: Region-by-Region Breakdown Lagos: ₦875/litre (down from ₦890) South West: ₦885/litre North West & North Central: ₦895/litre South East, South South, & North East: ₦905/litre The adjusted rates apply across Dangote’s partner networks, including MRS, Ardova (AP), Heyden, Optima Energy, Techno Oil, and Hyde. Driving the ‘Nigeria First’ Agenda Dangote Refinery called on all fuel marketers to join its partner network, emphasizing collective support for: Local Production: Reducing reliance on imported petroleum products. Economic Sovereignty: Prioritizing homegrown solutions to stabilize prices. […]

Ahmad May 23, 2025

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