finance
Nigeria Becomes Net Gasoline Exporter Driven by Dangote Refinery Output
Nigeria transitioned to a net exporter of gasoline in March 2026, with exports reaching 55,000 barrels per day and imports dropping to 40,000 barrels per day. This shift is attributed to the Dangote refinery operating near its full capacity of 650,000 barrels per day.
Apr 25, 5:00 PM·1m read1 source
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com. The change occurred in March 2026, when gasoline exports increased to 55,000 barrels per day while imports decreased to about 40,000 barrels per day. This import level represents the lowest in a decade for the country. The development addresses Nigeria's previous imbalance as a major crude oil exporter that relied on imports to meet domestic fuel demand.
com reported that the shift is driven by the Dangote refinery, which is operating near its full capacity of 650,000 barrels per day.
com report. This occurs amid ICE jet fuel crack spreads ranging from $90 to $110 per barrel and Amsterdam-Rotterdam-Antwerp stocks at multi-year lows in April 2026. High freight costs and unstable crude supply are limiting the extent of these exports to Europe, according to the report.
Global refining margins for diesel and jet fuel are at elevated levels.
The Dangote refinery is contributing to supply in a market facing shortages of refined products. OilPrice.com noted that the facility is providing products during a period of high crack spreads.
