Nigeria Becomes Net Petrol Exporter

Nigeria has achieved a historic milestone, becoming a net exporter of petrol for the first time in March 2026, largely due to the increased output from Dangote Petroleum Refinery. The refinery exported 44,000 barrels per day (b/d) of gasoline, creating a surplus of approximately 3,000 b/d. This marks a significant turnaround for Nigeria, which has historically relied on imported refined petroleum products. The development is expected to generate substantial foreign exchange inflows, easing pressure on the naira and supporting macroeconomic stability. Dangote Petroleum Refinery also expanded its international footprint by shipping its first gasoline cargo to Mozambique in East Africa. Data from Kpler indicates a sharp drop in Nigeria's gasoline imports to a record low of 41,000 b/d, while crude supply to the refinery rose to 565,000 b/d. This transition is poised to reshape regional trade flows and intensify competition in global fuel markets, potentially adding pressure to Europe's oversupplied gasoline market. Aliko Dangote, President and Chief Executive of Dangote Industries Limited, attributed this success to President Bola Tinubu's economic and energy sector reforms.