As the conflict in the Middle East causes volatility in global oil prices, Nigeria’s fuel supply is being stabilized by the Dangote refinery in Lagos, according to the head of the Nigerian fuel distributors’ association, Billy Gillis-Harris.
Located in Lekki, the mega-refinery owned by billionaire Aliko Dangote said it is prioritizing the domestic market to prevent fuel shortages across the country.
The strategy aims to limit the impact of the Middle East conflict on Nigeria’s energy supply, although fuel prices at the pump have already risen by around 20% within a week due to global market fluctuations.
With a production capacity of 650,000 barrels per day, the Dangote refinery is capable of meeting Nigeria’s national fuel demand, strengthening energy security in Africa’s largest oil producer.
Before the refinery began operations in 2024, Nigeria had to import almost all of its refined fuel, leading to frequent shortages and price instability. The launch of the private refinery helped stabilize prices, which had dropped to around 800 naira per litre.
Source: AfricaNews
