As tensions in the Middle East continue to cause volatility in global oil markets, Nigeria’s fuel supply is being stabilized by the Dangote refinery in Lagos, according to Billy Gillis-Harris, head of the Nigerian fuel distributors’ association.
Located in Lekki, the mega-refinery owned by billionaire Aliko Dangote has announced that it is prioritizing the local market to prevent fuel shortages across the country.
The move aims to limit the impact of the Middle East conflict on Nigeria’s energy supply, even though fuel prices at the pump have already increased by about 20% in one week due to global market fluctuations.
With a production capacity of 650,000 barrels per day, the Dangote refinery is able to meet Nigeria’s domestic fuel demand, strengthening energy security in Africa’s largest oil-producing nation.
Before the refinery began operations in 2024, Nigeria depended on importing nearly all of its refined fuel, often leading to shortages and price instability. The launch of the facility helped stabilize prices, bringing them down to around 800 naira per litre.
Source: Newstimehub
