Major oil traders Vitol, Trafigura, and BP have emerged as the primary buyers of fuel from Nigeria’s Dangote refinery, the continent’s largest crude processing facility, according to data from oil and gas analytics firm Precise Intelligence, based in Geneva.
The Dangote refinery, which began producing fuel in January 2024 after years of delays, is ramping up operations, though it has not yet reached its maximum output capacity of 650,000 barrels per day (bpd). Once at full capacity, the refinery—owned by Aliko Dangote, one of Africa’s wealthiest individuals—is projected to satisfy Nigeria’s entire demand for refined petroleum products, with surplus production earmarked for export. Nigeria, despite being Africa’s top oil producer, has historically depended on fuel imports to meet its domestic needs.
Since starting operations, the refinery has shipped nearly 45 million barrels of fuel, with diesel and fuel oil representing 60% of total exports so far, according to Precise Intelligence’s figures. The facility, which expects to reach its full operational capacity next year, has drawn attention from major global oil firms looking to secure supplies.
In recent discussions with Nigerian President Bola Tinubu, Dangote explored strategies for securing crude supply to the refinery and ensuring stable fuel availability in Nigeria. In a recent deal, Nigeria’s state oil company, NNPC, supplied four cargoes of crude to the refinery with payment arrangements in naira, Nigeria’s local currency.
