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Smuggled Nigerian petrol floods W’African markets, sells N1,700/litre

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The Federal Government, on Monday, raised the alarm over the renewed smuggling of Premium Motor Spirit, popularly called petrol, following the massive hike in the pump price of the commodity in neighbouring countries.

It stated that while the average price of petrol in Nigeria was about N701/litre, the average cost of the product in neighbouring countries was N1,787/litre, a development that heightened PMS smuggling out of Nigeria in the past two weeks.

The Comptroller-General of the Nigeria Customs Service, Adewale Adeniyi, who disclosed this at a press conference in Yola, said the NCS had to join forces with the Office of the National Security Adviser to tackle the menace.

He said, “Today, we are here to update members of the public on the strategic efforts of the Nigeria Customs Service in addressing the critical issue of fuel smuggling through the recently launched Operation Whirlwind, under the auspices of the Office of the National Security Adviser.

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“About a year ago, the Federal Government made the bold strategic decision to remove the fuel subsidy. This crucial step was aimed at freeing up substantial funds that could be redirected to other productive sectors of the economy, reducing pressure on our foreign exchange reserves, and diversifying economic growth.

“The immediate impact was an upward adjustment in fuel prices to reflect current realities. Despite the inflationary pressures and financial strain on households, particularly those with lower incomes, comparative studies still show that fuel prices in Nigeria remain the cheapest compared to other countries in the West and Central African region,” he stated.

PMS prices

Speaking further, Adeniyi said, “While PMS is sold at an average of N701.99 in Nigeria, it is sold at an average of N1,672.05 in the Republic of Benin and N2,061.55 in Cameroon. In other countries around the region, the price of PMS ranges from N1,427.68 in Liberia to N2,128.20 in Mali, averaging N1,787.57, according to the fuel price data obtained from opensource.”

The customs boss said this comparative price advantage, though beneficial to Nigerian citizens, unfortunately, created a lucrative incentive for smuggling PMS out of Nigeria, where prices were two to three times higher.

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He said this is substantiated by the report on the average daily evacuation of PMS to various states in Nigeria, obtained from the Nigeria National Midstream and Downstream Petroleum Regulatory Authority.

In his speech, which was made available to our correspondent in Abuja, he said, “The (NMDPRA) report shows significant changes in evacuation patterns that are not justified by corresponding economic and demographic changes, particularly in border states that share contiguous borders with our neighbours.

“Between April and May 2024, Borno and Kebbi states recorded 76 and 59 per cent increases in evacuations, ranking among the top three states. On a year-on-year basis (May 2023 and May 2024), Sokoto and Taraba states recorded the most substantial increases in evacuations, with 247 and 234 per cent increases, respectively.

“Border states like Katsina and Kebbi also recorded more than 50 per cent increases in evacuation. These discrepancies, along with the price disparity between domestic PMS (N701.99) and neighbouring countries (N1,787.57), raise concerns about the actual delivery of PMS and the potential for smuggling.”

Adeniyi said credible intelligence on activities around border areas corroborated these suspicions.

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“In response to the alarming increase in fuel smuggling, the NCS in close collaboration with the NSA initiated Operation Whirlwind. This nationwide operation aims to: a. Ensure that Nigerians enjoy the full benefits of fuel price deregulation in line with the vision of President Bola Tinubu.

“b. Defend the national currency and reduce pressures that may be attributed to the activities of smugglers. c. Identify, dismantle and disrupt cartels of smugglers operating within the ecosystem. d. Raise awareness of the local communities and solicit their support to achieve these objectives,” he stated.

Anti-smuggling team

He said the operations, which were guided by credible intelligence and empowered by the new Customs Act 2023, target illegal exportation, particularly of petroleum products, ensuring their availability within the country and conserving government resources.

“Coordinated by a Comptroller of Customs, the operation covers all NCS Zones (A-D), involving selected officers trained and equipped to handle the task with strict adherence to professionalism.

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“Collaboration with the ONSA and the NMDPRA supports the operation, utilising internal and external sources. This operation was launched approximately two weeks ago,” Adeniyi stated.

According to him, the NCS had made some significant strides in the ongoing Operation Whirlwind, aimed at curbing the smuggling of Premium Motor Spirit out of the country.

“In the past two weeks we have received credible intelligence on the relative stability of the price of PMS around border states, this is easily attributed to disruptions in the operations of smugglers. Within seven days of intensive operations, a total of 150,950 litres of PMS, valued at N 105,965,391, have been intercepted at various locations nationwide.

“The seizures include: a. On Friday, May 31, 2024. A total of 45,000 litres of PMS in a tanker was seized at Mova, Adamawa. b. On Saturday, June 1, 2024, a total of 45,000 litres of PMS in a tanker was seized at Mubi, Adamawa. c.On Monday, June 3, 2024, a total of 2,375 litres of PMS in 95 25-litre jerrycans were seized at Mubi, Adamawa State.

“d. On Wednesday, June 5, 2024, a total of 4,450 litres of PMS in 178 25-litre jerrycans were seized in three different locations, including Song-Wuroboki, Mubi-Sahuda road and Gidan Madara

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– Sahuda road all in Adamawa. e. On Thursday, June 6, 2024, a total of 20,030 litres of PMS in 25 and 30-litre jerrycans were sized in various locations across

the country including Maiha, Adamawa State, Illela, Sokoto and Agbaragba Creek in Mfum border of Cross River State.

“f. On Friday, June 7, 2024, a total of 32,900 litres of PMS were seized at border locations in the North-East and South-West axis of the country. A total of 17,500 litres was recorded in Mubi, Adamawa State, while 15,400 litres was recorded around Imeko Obada Road in 616 25-litre jerrycans. g. On Saturday, June 8, 2024, a total of 8,525 litres of PMS were also seized in two separate locations in Owode (Owode-Ilaro road and Owode-Atan road) in Ogun State.”

Adeniyi stated that in addition to the ongoing operations under Operation Whirlwind, the Customs Area Commands remained vigilant against the illicit activities. of smugglers targeting PMS.

He said the service had recorded significant seizures of PMS from unpatriotic individuals attempting to deprive Nigerians of access to fuel and cause unnecessary hardship.

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“While the operation continues, our Federal Operating Units and Marine Commands have intercepted a total of 129,185 litres of fuel valued at N90,558,685. Notably, 54.48 per cent of these seizures occurred in the North-West region, including states such as Katsina, Kebbi, and Sokoto, while 23.87 per cent of the seizures were recorded in the North-Eastern part of the country, particularly in states like Taraba and Adamawa.

“It is worth noting that these states have also seen a significant increase in fuel evacuation as reported by the NMDPRA. It is now evident that the recent rise in the distribution of PMS to border states is driven by the activities of smugglers.

“A combined diversion of 280,135 litres of PMS worth N196,524,075.50 raises serious economic concerns with broader implications on national security. The quantum of this diversion is equivalent to more than 84 per cent of the daily evacuation of PMS to states like Ekiti and Jigawa. It also represents around 32.57 per cent of the daily evacuation to the border states of Borno and Katsina according to the data on average daily evacuation obtained from NMDPRA,” Adeniyi said.

He noted that if these activities were left unchecked, they could further deteriorate the country’s economic situation and exacerbate current foreign exchange challenges.

The customs helmsman stated that the influx of unaccounted foreign currency could be channelled into funding illegitimate activities, including the support of non-state actors engaged in criminal activities against the Nigerian state.

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“These issues have serious implications for national security, making it imperative to check, curtail, and dismantle these illicit operations. Achieving this requires the cooperation and collaboration of patriotic government agencies, exemplified by the ongoing Operation Whirlwind.

“Under this collaboration, efforts are being made to resolve existing gaps in the following areas: a. Sharing of Critical Data Among Agencies. Ongoing engagement with the NMDPRA and the ONSA focuses on sharing daily data on PMS loading. This will enable the NCS to track the movement and delivery of these products to their intended locations.

“b. Monitoring movement of PMS lifting. The NCS will enforce strict monitoring of tanker movements, ensuring that

PMS products lifted from NMDPRA facilities are delivered to approved locations. c. Use of Manual Systems by Independent Marketers. Independent marketers are advised to automate their existing fleet management systems to enable tracking and geo-fencing

capabilities.

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“d. Proliferation of fuel stations at border areas. The NCS will collaborate with relevant licensing agencies to manage the proliferation of petrol stations around border areas,” Adeniyi stated.

He said these measures were essential and would be rigorously implemented to ensure strict adherence to government expectations.

“However, in enforcing these measures, we are mindful of the potential challenges they may pose to border communities. Our operations will not obstruct or interfere with the legitimate activities of patriotic citizens in these areas. I will conclude with a stern warning to the perpetrators of these illicit acts: Desist immediately or face the full wrath of the law,” Adeniyi declared.

Petrol subsidy

On May 29 2023, the Federal Government removed the subsidy on petrol.

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Earlier in February that year,   the government declared that it had to shut down 270 filling stations in a bid to stop the smuggling of petrol out of Nigeria.

It said the activities of smugglers pushed Nigeria’s petrol consumption daily to about 67 million litres because a large volume of the product was moved out of the country illegally by smugglers.

The PUNCH precisely reported on February 3, 2023 that the  Federal Government had to deploy operatives of the Department of State Services on tankers transporting petrol to filling stations to halt the diversion and smuggling of the product.

The report stated that over 120 DSS officers were deployed at the time to follow fuel tankers to their various retail outlets in Abuja, as more security agencies were drafted into the exercise for nationwide coverage.

This came as the government also revealed at the time that it shut down over 270 filling stations for being involved in diverse infractions such as hoarding and selling above-approved price, among others.

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The Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, Farouk Ahmed, and the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Mele Kyari, disclosed this in Abuja during a live television programme monitored by our correspondent.

Speaking on efforts being put in place to halt the diversion and cross-border smuggling of PMS, Kyari had said, “So much is going on, there are government security interventions.

“I know the kind of work that we do with the security agencies, for instance, in Abuja alone, we have over 120 DSS officers following every truck to fuel stations and we are activating this across the country.

“We are ensuring that we get other government security agencies to follow these trucks to their locations, in order to be very sure that these trucks actually get to the fuel stations and there are not sold on the way and they don’t cross the borders.”

Kyari had earlier explained at a stakeholders meeting in Abuja that Nigeria’s fuel was smuggled to other countries, as he insisted that the scarcity of PMS at the time was not due to the elections that were held in February 2023.

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“There’s no dispute about this that our fuel gets to other countries, including in marine containers. We have evidence now that some of our customers are actually taking investors to other countries and we will get to the root of this.

“The appropriate government security agencies will deal with this. But this is the reality that we are dealing with. You do have cross-border smuggling, either in the form of round-tripping or whatever name we call it.

“So the 66 or 67 million litres that you have always seen include all these, the cross-border smuggling volumes. And it means that anytime we don’t satisfy those markets, it will affect your domestic market. This is the reality that we are dealing with,” he stated.

The NMDPRA boss, while speaking on sanctions taken against downstream operators who flouted the approved regulations, stated that over 270 filling stations and seven depots were closed at the time.

Ahmed had said, “Because of control that we have in most of the major cities, whether it is Port Harcourt, Lagos, Ibadan, Abuja, etc, the marketers tend to go to the rural areas where you can buy petrol at a high price.

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“And, of course, it is our responsibility as a regulator to ensure strict monitoring and enforcement. What we did was that a couple of weeks ago we had to shut about seven depots because of the inflation of their ex-depot price.”

PUNCH 

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NNPC Announces Increase in Petrol Pump Price

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The Nigerian National Petroleum Company Limited (NNPCL) has increased the pump price of Premium Motor Spirit, popularly known as petrol, at its retail stations.

A market check on Tuesday showed that NNPCL outlets in Abuja and nearby areas adjusted their petrol price from N1,155 per litre to N1,270 per litre.

The latest adjustment represents an increase of N115 per litre by the state-owned oil company.

Some NNPCL and MRS filling stations in Abuja were reportedly shut, while other outlets reviewed their petrol prices upward on Monday.

The new price change follows recent increases by depot owners and petroleum marketers, who have adjusted their rates twice within a week.

The latest development also comes days after Dangote Refinery resumed the sale of refined petroleum products in dollars, a move that has raised concerns among industry players over the direction of fuel pricing in the country.

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13 Oil Blocks to Return to Licensing Basket After Failing to Attract Bids – NUPRC

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The Federal Government has disclosed that 13 of the 50 oil and gas blocks offered in the 2025 Licensing Round will be returned to the licensing basket after failing to attract bids from prospective investors.

The Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Oritsemeyiwa Eyesan, disclosed this on Tuesday at the 2025 Commercial Bid Conference in Abuja.

Eyesan said that although 50 blocks were initially put up for bidding, prospective investors showed interest in only 37.

“At the end of the exercise, we had 50 blocks on offer, but we only had representation for 37 of those 50 blocks. Thirteen of those blocks will be returning back to the basket,” she said.

She further disclosed that 143 companies participated in the commercial bid process, submitting about 200 bids for the available oil and gas assets.

“We have a total of 143 companies showing interest for 200 bids. That, for us, was remarkable, and I must say thank you,” Eyesan stated.

According to her, nearly 300 companies initially expressed interest in the licensing round, which she described as a sign of renewed investor confidence in Nigeria’s upstream petroleum sector.

“When we started the journey, we got interest from almost 300 companies. I repeat, almost 300 companies. That, in my view, was an indication that the tide has turned for Nigeria,” she said.

She explained that the number of interested companies was reduced to 196 following the prequalification stage, before the process moved to the technical and commercial evaluation phases.

“From the almost 300 interests that we got, we moved to the pre-qualification stage, and that number was pruned down to 196,” she added.

The 2025 Licensing Round was launched on November 11, 2025, in accordance with the Petroleum Industry Act 2021, with 50 oil and gas blocks put up for bidding across seven sedimentary basins.

The assets comprise 16 Niger Delta onshore blocks, 18 shallow-water blocks, one deep offshore block, three blocks in the Benin Basin, four in the Anambra Basin, four in the Chad Basin and four in the Benue Trough.

The bid portal opened on December 1, 2025, while a pre-bid conference was held in Lagos on January 14, 2026, to provide prospective investors with guidance on the bidding requirements.

Registration and prequalification submissions closed on February 27, 2026, with the prequalification process completed on March 16.

The NUPRC said winning bids are being determined through a weighted evaluation that considers signature bonus commitments, proposed work programmes and performance security. The process combines technical and commercial scores rather than relying solely on financial offers.

The framework is aimed at ensuring that Nigeria’s petroleum assets are awarded to investors with the financial capacity, technical expertise and operational strength required to accelerate exploration and production in the country’s upstream sector.

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No More Naira: Dangote Refinery Switches To Dollar For Petrol Sales 

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Dangote Petroleum Refinery has officially ended naira-denominated sales of refined petroleum products, introducing a dollar-based pricing structure that fixes the ex-depot price of Premium Motor Spirit (PMS), popularly known as petrol, at $0.779 per litre.

The new pricing template, which took effect on July 13, 2026, also pegs Automotive Gas Oil (diesel) at $1.087 per litre and Aviation Turbine Kerosene (ATK) at $0.942 per litre, while coastal deliveries of PMS have been fixed at $1,044.62 per metric tonne.

The development marks the end of naira payments for refined petroleum products, a policy introduced after the commencement of the Federal Government’s naira-for-crude initiative on October 1, 2024.

In a notice issued to petroleum marketers and customers, the refinery announced that all previously issued naira-denominated Proforma Invoices and Deal Recaps for both gantry and coastal transactions had become invalid.

The notice, signed by the refinery’s Group Commercial Operations, directed customers not to make payments against the cancelled invoices, stating that all transactions would now be conducted in United States dollars.

Under the revised pricing schedule, petrol supplied through the gantry will sell for $0.779 per litre, diesel for $1.087 per litre, aviation fuel for $0.942 per litre, while coastal PMS supplies will cost $1,044.62 per metric tonne.

The refinery, however, clarified that the transition does not affect Liquefied Petroleum Gas (LPG), which will continue under its existing payment arrangement.

Industry sources said the decision followed a growing imbalance between the currency used to procure crude oil and that used to sell refined products.

According to the sources, the refinery now receives a larger share of its crude oil from the Nigerian National Petroleum Company Limited (NNPCL) under dollar-denominated supply arrangements, while a significant volume of its refined products had continued to be sold locally in naira.

The resulting mismatch, coupled with exchange-rate volatility and fluctuations in global crude oil prices, reportedly increased the refinery’s foreign exchange exposure and prompted the adoption of a uniform dollar-based pricing framework.

A source familiar with the development explained that the shift became necessary as the volume of naira-denominated crude supplies declined relative to dollar-based crude cargoes.

“The refinery is receiving fewer naira-denominated crude cargoes while a larger proportion of its refined products has continued to be sold in naira. That imbalance, combined with foreign exchange volatility, made the transition to dollar pricing inevitable,” the source said.

The decision is expected to have significant implications for petroleum marketers who source products directly from the refinery for nationwide distribution. It could also influence retail pump prices, depending on movements in the exchange rate, international crude oil prices, logistics costs and marketers’ operating expenses.

The Federal Government had introduced the naira-for-crude policy to encourage domestic refining, reduce pressure on foreign exchange demand and stabilise fuel prices. However, industry stakeholders have recently reported implementation challenges, noting that a growing proportion of crude supplies to local refiners has reverted to dollar-based transactions.

Analysts believe the latest development underscores the continued foreign exchange challenges facing Nigeria’s downstream petroleum sector despite efforts to deepen local refining and reduce dependence on imported fuel.

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Petrol To Fall Bellow N800 Per Litre As Marketers Push, Seek Import Licences 

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Independent petroleum marketers on Monday pushed for the restoration of importation rights and projected that the pump price of Premium Motor Spirit, popularly called petrol, could fall below N800 per litre as the Federal Government intensified efforts to force down the cost of petrol.

The development came as the Federal Government met with major operators in the downstream petroleum sector, including representatives of the Dangote Petroleum Refinery, over what it described as the disconnect between falling global crude oil prices and the relatively high pump prices of petrol in the domestic market.

The stakeholders’ meeting on cost-reflective pricing of PMS, held at the headquarters of the Nigerian Midstream and Downstream Petroleum Regulatory Authority in Abuja, brought together the Federal Competition and Consumer Protection Commission, the Independent Petroleum Marketers Association of Nigeria, the Major Energy Marketers Association of Nigeria, the Depot and Petroleum Products Retailers Association of Nigeria, the Depot and Petroleum Products Marketers Association of Nigeria, the Nigerian Association of Road Transport Owners, and other major operators in the sector.

Also in attendance were chief executives and representatives of TotalEnergies, Eterna Plc, Matrix Energy Group, officials of the NMDPRA, and delegates from the Dangote refinery.

Petrol prices have remained a major source of hardship for households and businesses in Nigeria, with pump prices surging following the spike in global crude oil prices triggered by tensions in the Middle East, particularly between Iran and the United States.

Although crude prices have moderated after diplomatic efforts eased the tensions, the reduction has yet to be fully reflected in domestic petrol prices, prompting the Federal Government to convene a stakeholders’ meeting aimed at driving a fair reduction in pump prices.

The National President of the Independent Petroleum Marketers Association of Nigeria, Abubakar Maigandi, urged the government to permit independent marketers to import petroleum products directly, saying greater competition would ultimately reduce prices.

Maigandi also called for support for local refineries, particularly the Dangote Petroleum Refinery, while stressing the need to allow marketers to import products whenever necessary.

“Our major concern is that if products are to be distributed, let IPMAN buy products directly from the Dangote refinery and then, if we request importation, let IPMAN import by themselves. What we are trying to encourage is our local refinery. Let the government allow the local refinery to function properly and assist those who intend to refine products too,” he said.

The IPMAN president assured Nigerians that independent marketers were prepared to slash petrol prices significantly and projected that pump prices could fall below N800 per litre under the right market conditions.

“The price of the product is coming down bit by bit. Even when the price was increased, it was not increased at the same time. Likewise, now, as the price is coming down, we too are bringing the price down. If you check prices all over the country, you will see that independent petroleum marketers are reducing their prices gradually. Presently, we have reduced by N125 per litre nationwide,” he stated.

Miagandi added, “At any time when there is a reduction in price, we are ready to reduce the price to even below N800 per litre, not even N900. It depends on the way we buy the product from the private depot owners and the Dangote refinery.

“I thank God that the Dangote refinery has accepted independent petroleum marketers to start purchasing products directly. It is a plus, and very soon the populace will see the change in terms of price.”

The renewed push for importation comes amid an intense pricing battle in the downstream sector following the commencement of large-scale production at the Dangote refinery and the deregulation of the petrol market.

Speaking to journalists after a closed-door session with the stakeholders, the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, said the government remained concerned that current petrol prices were not reflective of prevailing crude oil prices in the international market.

According to him, the government had engaged marketers in frank discussions aimed at ensuring that the reduction in global crude prices translates into lower pump prices for Nigerians.

Lokpobiri said, “The engagements are ongoing. We had very fruitful and frank discussions with the marketers and the leaders of the downstream sector of the petroleum industry with a view to driving down the price of PMS.

“My own opinion is that the petrol prices are not cost-reflective; they are not reflective of the cost of crude oil. But the marketers are also saying that crude oil prices are still high.

“In fact, somebody told us right there that the crude oil price for a month is still over $90 per barrel. But we are saying that when Brent crude was over $118 per barrel, the price was rapidly going up. Now that the price has come down drastically, why has petrol not come down correspondingly? That is a worry.”

The minister said the government had communicated the concerns of consumers to operators and directed them to return with practical measures that would lead to lower petrol prices.

“We have said that these are the issues of concern to the government. They have also said they will go back and think about what they can put together with a view to addressing the issue of the high cost of PMS that is not reflective of the price of crude in the market.

“We told them the concern of the Nigerian consumer, and they have also said they will go back and think of what concrete steps can be taken with a view to ensuring that the price drops,” he stated.

On when Nigerians should expect a reduction in petrol prices, Lokpobiri said discussions were still ongoing and declined to give a deadline. “As we called you today, we will call you as soon as possible. But the important thing is that discussions are ongoing,” he added.

Before the closed-door meeting, Lokpobiri warned petroleum marketers against using profits from previously acquired expensive fuel inventories as justification for maintaining high petrol prices, insisting that the benefits of lower replacement costs must be passed on to consumers.

The government said the continued disconnect between falling international crude oil prices and domestic petrol prices had become a source of concern, warning petroleum marketers against sustaining high pump prices of Premium Motor Spirit despite declining global crude prices and insisting that Nigerians should enjoy the benefits of lower replacement costs in a deregulated market.

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Dangote Refinery Exports N757bn Worth of Jet Fuel to Europe, Overtakes US

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The Dangote Petroleum Refinery exported about 466,000 metric tonnes of jet fuel to Europe in June, valued at an estimated ₦757 billion, surpassing shipments from the United States and becoming Europe’s largest supplier during the month.
According to an S&P Global Commodity Insights market report, Nigeria’s jet fuel exports to Europe rose sharply from 232,000 metric tonnes in May to 466,000 metric tonnes in June—the highest monthly volume since the country became a net exporter of aviation fuel in 2024 following the commencement of production at the Dangote refinery.
The June shipment is equivalent to about 582.5 million litres of aviation fuel. At an estimated domestic value of ₦1,300 per litre, the exports are worth approximately ₦757.25 billion.
In contrast, US jet fuel exports to Europe declined significantly, dropping from a record 818,000 metric tonnes in April to 560,000 metric tonnes in May, before falling further to 399,000 metric tonnes in June, leaving Nigeria as the continent’s biggest supplier during the period.
A trader attributed the oversupply in the European market to increased shipments from both Dangote and the US.
“Jet fuel is oversupplied because of high local refinery production. Refineries delayed maintenance to benefit from high prices. The US and Dangote also shipped large volumes. Some flows are also resuming through the Suez Canal from the UAE,” the trader said.
The report noted that the European jet fuel market turned increasingly bearish after prices retreated sharply from the highs recorded during the recent Middle East conflict.
According to Platts, part of S&P Global Commodity Insights, the Northwest Europe jet CIF cargo assessment for July fell to $981.75 per metric tonne on June 30, down from a record $1,694.25 per metric tonne recorded on March 30. The August contract also declined from $1,507.50 to $968.25 per metric tonne over the same period.
Analysts said Europe could receive even more jet fuel supplies in the coming months as the East-West arbitrage remains favourable, encouraging exporters in the Middle East and India to ship cargoes westward.
Although no jet fuel shipments arrived from the United Arab Emirates and Kuwait in June, exports from Saudi Arabia increased to about 106,000 metric tonnes, up from 7,000 metric tonnes in May. Exports from India also rose from 129,000 metric tonnes to 197,000 metric tonnes.
Despite the current oversupply, traders told Platts that market conditions would largely depend on developments in the Strait of Hormuz, the recovery of Middle Eastern refineries affected by recent conflicts, stronger summer travel demand, and refiners’ decisions to prioritise diesel production over jet fuel.
Meanwhile, data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) showed that the Dangote refinery exported about 1.66 billion litres of refined petroleum products in April 2026.
The exports included 513 million litres of petrol, 534 million litres of diesel, and 615 million litres of aviation fuel, highlighting the refinery’s growing role in supplying both domestic and international markets.
Dangote Refinery remains Nigeria’s only major refinery currently producing refined petroleum products at volumes sufficient for local consumption and export. Rising output has also made Nigeria a net exporter of petrol for the first time in decades, reinforcing the country’s emergence as a major refining and petroleum export hub in Africa.

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