Europe Loses Nigeria As Key Gasoline Importer

Nigeria’s gasoline imports are on track to reach an eight-year low as the country’s new mega-refinery displaces foreign suppliers, boosting the African nation’s fuel independence, Bloomberg News reported.

The ramp-up of the Dangote refinery has been cited as a watershed factor in the slowing down of Nigeria's gas imports. I Photo: Dangote Group X

From Jan. 1 to 24, shipments into Nigeria averaged about 110,000 barrels per day, according to data compiled by Bloomberg from analytics firm Vortexa. If that trend continues, the country’s total gasoline imports—most of which come from Europe—will hit their lowest level since 2017.

“A large part of the slowdown in Nigeria’s gasoline imports is due to the ramp-up of the Dangote refinery,” Vortexa analyst Samantha Hartke said. “Northwest Europe will have to find alternative homes for its gasoline supplies.”