<\/p>\n
Nigeria\u2019s gasoline imports more than tripled last month as the country\u2019s main refinery cut domestic supply and increasingly directed output toward export markets to maximise foreign-currency earnings.<\/p>\n
The West African nation shipped in 18.1 million liters of the fuel per day in June, compared with 5.6 million liters in May, the Nigerian Midstream and Downstream Petroleum Regulatory Authority said in a monthly report.<\/p>\n
Dangote Petroleum Refinery & Petrochemicals Fze is prioritising selling fuel abroad because it\u2019s struggled to access foreign exchange from the central bank as well as oil from the state-owned Nigerian National Petroleum Co under a naira-for-crude arrangement.<\/p>\n
ADVERTISEMENT<\/p>\n
CONTINUE READING BELOW<\/p>\n
\u201cWe are exporting as much as possible,\u201d Devakumar V. G. Edwin, group vice president at Dangote Refinery, said in text message response to questions. \u201cWe are not able to get enough dollars from the central bank, and it doesn\u2019t make any sense to be selling the products in naira and not being able to buy dollars. We need the dollars to buy our feedstock.\u201d<\/p>\n
Spokespeople for the central bank and the NNPC didn\u2019t respond to requests for comment.<\/p>\n
Nigeria is Africa\u2019s biggest oil producer and relies on the 700 000 barrel-per-day Dangote refinery \u2014 the continent\u2019s largest \u2014 as its main source of fuel. The facility, owned by Nigerian tycoon Aliko Dangote, supplied 90% of the nation\u2019s gasoline in May, according to the downstream regulator.<\/p>\n
The naira-for-crude program was introduced in 2024 to ease pressure on Nigeria\u2019s foreign-exchange reserves, which have consistently undermined the naira. The Dangote Refinery has criticised the policy for not being implemented consistently, resulting in inadequate and unreliable local crude supply.<\/p>\n
The Dangote plant is receiving \u201cvery little\u201d petroleum products under the naira-for-crude deal, Edwin said.<\/p>\n
Ikemesit Effiong, senior partner and head of research at SBM Intelligence, warned that Nigeria risks becoming reliant on imports it\u2019s worked hard to reduce if the refinery continues to prioritise exports.<\/p>\n
The \u00a0NNPC\u2019S failure to supply sufficient crude to Dangote may compel the refinery to bring in crude and sell it abroad, which will mean \u201can underserved market and an incentive to grow imports,\u201d he said.<\/p>\n
\u00a9 2026 Bloomberg<\/p>\n
#Nigerian #fuel #imports #surge #Dangote #refinery #favours #exports<\/p>\n","protected":false},"excerpt":{"rendered":"
Nigeria\u2019s gasoline imports more than tripled last month as the country\u2019s main refinery cut domestic…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[4],"tags":[7406,3997,7954,1255,4092,7407,1949,1495],"_links":{"self":[{"href":"https:\/\/stock999.top\/index.php?rest_route=\/wp\/v2\/posts\/11747"}],"collection":[{"href":"https:\/\/stock999.top\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stock999.top\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stock999.top\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/stock999.top\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=11747"}],"version-history":[{"count":0,"href":"https:\/\/stock999.top\/index.php?rest_route=\/wp\/v2\/posts\/11747\/revisions"}],"wp:attachment":[{"href":"https:\/\/stock999.top\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11747"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stock999.top\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=11747"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stock999.top\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=11747"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}