Nigeria’s Dangote refinery enhances exports to alleviate Africa’s supply shortage
Nigeria’s Dangote refinery, the largest in Africa, has ramped up exports of gasoline and urea to African nations affected by supply disruptions stemming from the Iran war, according to its owner, Aliko Dangote, on Monday.
Dangote stated that the refinery, currently functioning at its peak capacity of 650,000 barrels per day, has played a significant role in mitigating the full effects of the crisis in Nigeria and throughout the continent. “I can assure Nigerians … and much of West Africa, Central Africa, and East Africa, that we have the capacity to supply them,” Dangote remarked during a visit to the refinery located on the outskirts of Lagos, the commercial capital.
He mentioned that the facility had dispatched approximately 17 cargoes of gasoline to various African nations, and there had also been a recent increase in exports of urea fertilizer, as buyers sought alternative sources of supply.
The image shows the loading and discharging area at the Dangote refinery plant in Lagos, Nigeria. “In the past few days, our focus has shifted primarily to African countries, which was not the case previously,” he stated, discussing the fertilizer shipments, though he did not provide specific figures.
According to officials, the refinery can produce as much as 3 million metric tons of urea, a nitrogen-rich fertilizer, each year, with the majority usually being exported to the United States and South America.
Fuel prices in oil-producing Nigeria have hit unprecedented levels, according to industry figures, as the maximum output from the Dangote refinery has not mitigated the effects of soaring crude prices.
Dangote stated that the refinery aimed to secure additional crude cargoes priced in local currency to assist in reducing fuel costs.
Last week, two trade sources and a refinery official informed Reuters that the state oil firm Nigerian National Petroleum Company was allocating seven cargoes for the Dangote refinery in May, an increase from five in prior months.
