BUSINESS DAY NG
The Organisation of the Petroleum Exporting Countries (OPEC) said the Dangote Refinery has significantly reduced Nigeria’s reliance on imported European refined products.
In its Monthly Oil Market Report published on January 15, 2025, OPEC highlighted that the shift could disrupt traditional gasoline flows, forcing international markets to seek alternative destinations for surplus volumes.
“The ongoing operational ramp-up efforts at Nigeria’s new Dangote refinery and its gasoline exports to the international market will likely weigh further on the European gasoline market,” the report stated.
It further explained that Nigeria, a country historically dependent on fuel imports to meet its energy needs, is now freeing up gasoline volumes in global markets due to increased local production…
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