Dangote Tightens Grip On Fuel Market
The Dangote Petroleum Refinery supplied about 92 per cent of Nigeria’s daily petrol needs in February as the Federal Government paused the importation of Premium Motor Spirit.
Data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority showed that local refineries delivered 36.5 million litres per day, while imports accounted for only three million litres.
Authorities halted new fuel import licences this year after domestic refining began meeting national demand.
The figures showed a sharp shift from previous months when imports formed a large share of petrol supply, signalling a major change in Nigeria’s fuel market.
Despite the increase in local supply, petrol pump prices remained high across several cities.
Filling stations in Lagos, Ogun and Abuja continued to sell petrol between about N1,200 and N1,330 per litre even after the Dangote refinery reduced its gantry price by N100 to N1,075 per litre.
Analysts say the growing influence of the refinery is reshaping the downstream sector as the country moves away from heavy reliance on imported fuel.
The development may reduce pressure on foreign exchange, though some industry players fear that limited competition could affect market balance.
