The Organisation of the Petroleum Exporting Countries (OPEC) has noted that the Dangote Petroleum Refinery has significantly reduced Nigeria’s reliance on imported refined petroleum products, particularly from Europe. In its Monthly Oil Market Report released on January 15th, 2025, OPEC highlighted the refinery’s impact on the international gasoline market.
OPEC’s report indicated that the ongoing ramp-up of operations at the Dangote refinery, located in Lagos, is set to increase gasoline exports, which may impact European gasoline markets. The refinery’s production is expected to displace gasoline previously sourced from international markets, prompting a search for new destinations for the surplus volumes.
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As Nigeria continues to produce more gasoline domestically, the country, once a major importer of fuel, is now poised to influence the global trade in refined products. OPEC expects this shift to lead to further adjustments in global fuel flows, particularly as surplus gasoline from Nigeria moves into new markets.
The report also noted that the increasing gasoline output from the Dangote refinery is likely to continue reshaping international trade patterns, reducing Nigeria’s dependency on imported refined products and easing pressure on the global supply chain.
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