Dangote Refinery Helps Stabilize Nigeria’s Fuel Supply

As tensions in the Middle East trigger volatility in global oil prices, Nigeria’s fuel supply is being stabilized by the Dangote refinery in Lagos, according to Billy Gillis-Harris, head of the Nigerian fuel distributors’ association.

Located in Lekki, the mega-refinery owned by billionaire Aliko Dangote says it is prioritizing the domestic market to prevent fuel shortages across the country.

The strategy is intended to reduce the impact of the Middle East conflict on Nigeria’s energy sector, although fuel prices at the pump have already risen by about 20% within a week due to global market fluctuations.

With a production capacity of 650,000 barrels per day, the Dangote refinery can cover Nigeria’s national fuel demand, strengthening energy security in Africa’s largest oil producer.

Before the refinery began operations in 2024, Nigeria relied on importing almost all of its refined fuel, which often led to shortages and price instability. The launch of the refinery helped stabilize prices, which had dropped to around 800 naira per litre.

Source: Newstimehub