Nigeria’s petrol imports plummet in October as Dangote refinery ramps up production

Nigeria’s petrol imports have dropped significantly in early October as the Dangote Refinery boosts its production to meet local demand. This information comes from an S&P Global Commodity Insights ship-tracking report released on Tuesday.

The report shows a dramatic decrease in petrol imports. In the first week of October, only 280,400 barrels of gasoline and blend stock entered Nigeria through a single Medium-Range vessel, a sharp contrast to August’s weekly average of 1.3 million barrels.

The trend continued into the second week of October. Only one tanker, carrying 290,567 barrels from Antwerp to Lagos, was reported. These two shipments pale compared to the 12 cargoes sent in the first half of August and September.