Nigeria's oil exports surge amid Dangote refinery

Nigeria's exports of seaborne petroleum products experienced a significant surge in the second quarter of 2026, increasing sevenfold, driven by the increased output from the Dangote Refinery, which began operations in January 2024. The average shipments reached 561,000 barrels per day, with exports totaling around 350,000 barrels per day, compared to an average of 46,000 barrels in 2023. This development has helped reduce reliance on imports and enhanced Nigeria's capacity to export to Europe and Africa. Additionally, the refinery's expansion and its increased production capacity to 700,000 barrels per day—along with plans to double this capacity to approximately 1.4 million barrels by 2028—further strengthen Nigeria’s role as a primary fuel producer and support its efforts to achieve greater self-sufficiency and decrease imports.

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