Nigeria’s petrol imports dropped to their lowest level on record in June, following a significant ramp-up in local production from the Dangote Petroleum Refinery, according to new market data.
Tracking figures from Kpler, cited in a report by Argus, show that imports from traditional European suppliers — including the EU, UK, and Norway — have sharply declined as Nigeria increasingly relies on domestic refining. June’s imports of petrol from Europe to Nigeria fell by 56% compared to the previous month, totaling just 231,000 metric tonnes — the lowest level Kpler has ever recorded.
Altogether, Nigeria brought in 271,000 metric tonnes of petrol last month from Europe, offshore Lome, Houston, and other sources — equivalent to roughly 363 million litres. In contrast, the Dangote facility exported 252,000 metric tonnes during the same period, shipping to destinations such as Oman, Malaysia, and Ivory Coast.
The decline in petrol imports contributed to a four-month low in gasoline deliveries to West Africa, which totaled 926,000 metric tonnes in June — down from 1.3 million in May and a 20% year-on-year drop.
For the first time, Togo surpassed Nigeria in gasoline imports, underlining the shifting dynamics driven by the massive refinery located in Lekki. The plant is currently refining 550,000 barrels of crude daily, with plans to scale up further.
Dangote Group Executive Director Edwin Devakumar revealed that the refinery is working toward sourcing 100% of its crude locally by the end of 2025. In June, Nigerian producers supplied about 53% of the refinery’s crude needs, with the remaining 47% coming from the United States. The goal is to fully transition to local supply as existing export contracts held by Nigerian producers expire.
Data from the Federation Account Allocation Committee shows that between January and April 2025, the government sold crude worth over N219 billion to the Dangote refinery. This comprised nine cargoes, totaling about 1.9 million barrels. However, the refinery received no crude in May, even as the government exported oil valued at over N113 billion that month.
As local refining gains traction, the refinery’s pricing is also shifting. Dangote reduced its ex-depot petrol price to N820 per litre — the lowest rate since March and a 2.15% drop from its previous price. The change, confirmed by marketers, is the eleventh downward price revision this year.
Meanwhile, global traders are watching closely. With Nigeria cutting back on fuel imports and US demand for gasoline underwhelming, European suppliers are left searching for alternative markets.
