As petrol rises 84% in Nigeria, Dangote refinery sends fuel to Ghana, 4 others

Petrol prices in Nigeria have surged sharply this year, yet the $20 billion Dangote Refinery, owned by Africa’s richest man, Aliko Dangote, is boosting exports across the continent. While raising its gantry price at home, the refinery is expanding exports, sending cargoes to Ghana, Cameroon, Côte d’Ivoire, Tanzania and Togo.

Refinery exports boost Africa’s fuel trade

The $20 billion refinery has shipped 12 cargoes of refined petroleum products totaling 456,000 tonnes to those five countries. The cargoes were sold through international traders on a Free on Board basis, marking one of the largest export pushes since the facility reached its full capacity of 650,000 barrels per day in February 2026. The shipments come as several African nations face tighter supply and rising import costs linked to geopolitical tensions in the Middle East.

Demand for cleaner fuel is rising. The refinery produces Euro 5 gasoline and diesel, which many African markets are adopting as they phase out lower-quality imports. Regional buyers are turning to closer suppliers to cut shipping time and control costs, amid uncertainty on routes from Europe and the Middle East. Sourcing fuel nearby could stabilize supply across West, Central, and East Africa while boosting trade with Nigeria.

Brent crude climbs as Iran tensions rise

Despite the export drive, availability within Nigeria has largely held steady. The pressure has instead been on affordability. The refinery’s gantry price for petrol has climbed 82.4 percent since the start of the year, rising from N699 ($0.50) on Jan. 1, 2026, to around N1,275 ($0.91). Retail prices in some states have reached as high as N1,450 per liter. The increase reflects higher crude costs, particularly as the refinery imports roughly 80 percent of its crude feedstock.

Global oil markets have been volatile. Brent crude futures have risen more than 77 percent this year, climbing from $60.85 per barrel on Jan. 1 to about $108 per barrel at the time of writing. Prices jumped more than 5 percent on Thursday after U.S. President Donald Trump warned Iran to advance peace talks amid tensions affecting shipping lanes. Reports suggest Iran is considering new transit charges for vessels passing through the Strait of Hormuz, with some estimates indicating fees of up to $2 million per ship.

Nigeria’s refinery supports regional fuel supply

These developments have tightened supply chains. With an estimated 21 percent of global seaborne jet fuel flows affected by disruptions linked to the Strait of Hormuz, European buyers are searching for options. That shift has brought fresh attention to Nigeria’s refining capacity, particularly the Dangote facility, which is emerging as a key supplier beyond domestic markets.

For Nigeria, the outlook is mixed. Rising exports highlight increased refining capacity and regional reach, while higher pump prices pressure consumers. Domestic supply remains steady, indicating the refinery supports local markets even as global tensions alter trade patterns. The balance between export growth and local affordability will shape the country’s energy landscape.