Nigeria imported an average of 78,000 barrels of petrol daily between April and August, while the Dangote Petroleum Refinery exported some of its output to regional markets, according to Argus Media.
The figures highlight a supply gap in Nigeria’s petrol market, where average consumption of 279,000 barrels per day exceeded the refinery’s average production of 258,000 barrels per day during the five-month period.
Despite the shortfall in domestic production, the refinery continued exporting petrol when trading opportunities in neighbouring markets made overseas sales attractive.
Its deliveries of refined petroleum products to West African countries climbed to a record 172,000 barrels per day in September, up from the previous monthly high of 152,000 barrels per day in August, according to Kpler data cited by Argus.
Petrol accounted for 62,000 barrels per day of September’s regional deliveries, while diesel and gasoil shipments reached 57,000 barrels per day. Jet fuel accounted for 36,000 barrels per day, with other clean petroleum products contributing another 17,000 barrels per day.
However, West Africa continued to depend on supplies from outside the region. Imports of refined petroleum products from external suppliers stood at 516,000 barrels per day in September, the second-lowest monthly volume since the end of 2017.
Shipments from the European Union, the United Kingdom and Norway fell to a five-month low of 282,000 barrels per day.
Argus tracking data also showed that crude oil receipts at the Dangote refinery averaged a record 665,000 barrels per day in September, surpassing the previous peak of 660,000 barrels per day recorded in June.
The refinery’s diesel and aviation fuel production also exceeded domestic demand between April and August, creating additional scope for exports.
Data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority showed that average diesel output stood at 130,000 barrels per day, compared with domestic consumption of 98,000 barrels per day.
Jet fuel production averaged 136,000 barrels per day, far above local consumption of 16,000 barrels per day.
The petrol market presented a different picture, with domestic demand remaining higher than the refinery’s average output even as imports supplemented local supply.
Argus said the combination of domestic imports and refinery exports reflected differences in production, demand and trading opportunities across regional markets.
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