Nigerias Petrol Imports Drop To Lowest In 8 Years

<blockquote>Nigerias importation of petroleum motor spirit aka gasoline or petrol has now dropped to its lowest in about 8 years.<br><br><b>This has been attributed to increased production by Dangote Refinery, as it ramps up production and is consequently pushing out foreign suppliers.<br></b><br><b>According to a Bloomberg report, from 01 to 24 January to 2025, shipments of fuel into Nigeria was about 110,000 barrels per day, based on data compiled from analytics firm Vortexa Ltd.<br></b><br><b>This is the lowest since 2017 when imports used to be above 200,000 barrels per day, and sometimes as high as above 400,000 bpd.<br></b><br>Experts say the Dangote Refinery, which has the highest refining capacity in Africa and Europe has disrupted global oil trade and pushed some refineries in Europe out of the market.<br><br>Even though it is not operating up to its full capacity yet, Dangote Refinery is boosting Nigerias fuel independence by reducing imports.<br><br><b>A large part of the slowdown in Nigerias gasoline imports is due to the ramp-up of the Dangote refinery. Northwest Europe will have to find alternative homes for its gasoline supplies, Vortexa analyst Samantha Hartke told Bloomberg.</b><br></blockquote> <br><a rel=ugc href="https://x.com/NaijaphiliaBlog/status/1933660304937799970">https://x.com/NaijaphiliaBlog/status/1933660304937799970</a>
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