Audio By Carbonatix
Nigeria's Dangote refinery, Africa's largest, has increased exports of gasoline and urea to African countries hit by supply disruptions caused by the Iran war, its owner Aliko Dangote said on Monday.
Dangote said the refinery, which is operating at its maximum capacity of 650,000 barrels a day, had helped cushion the full impact of the crisis in Nigeria and across the continent.
"What I can do is assure Nigerians ... and most of West Africa, Central Africa, and East Africa, we have the capacity to supply them," Dangote said during a tour of the refinery on the edge of commercial capital Lagos.
He said the facility had shipped some 17 cargoes of gasoline to other African nations , and exports of urea fertiliser had also recently risen, as buyers sought alternative sources of supply.
"In the last couple of days, we've been looking at mostly African countries, which we were not doing before," he said, referring to the fertiliser shipments, without giving figures.
The refinery has the capacity to produce up to 3 million metric tons of urea annually, most of which is typically exported to the United States and South America, officials say.
Fuel prices in oil-producing Nigeria have reached record-high levels, industry figures show, as maximum output from Dangote refinery has not offset the impact of high crude prices.
Dangote said the refinery hoped to get more crude cargoes priced in local currency to help curb fuel costs.
Two trade sources and a refinery official told Reuters last week that state oil firm Nigerian National Petroleum Company was allocating seven May cargoes for Dangote refinery, up from five in previous months.
Latest Stories
-
Stacy Mense’s ‘W’ahyira Me’ gains airplay on radio, digital platforms
7 minutes -
Economic activities mixed in 7 months of 2026; Cement sales decline by 10%
9 minutes -
GFA and Sports Ministry must not rush Black Stars head coach appointment – Nana Fitz
16 minutes -
Nkrumah Showboy: Chief Moomen’s play to explore Ghana’s first President’s early years
25 minutes -
SEC to develop Social Bond Guidelines; over half of listed firms report on ESG indicators
38 minutes -
Insurance firms have up till January 2027 to incorporate ESG in financial reporting
44 minutes -
High Court throws out Afenyo-Markin’s GH¢15m defamation suit against Sammy Gyamfi
55 minutes -
Rollover cost of T-bills reduced substantially, one-year bill yield drops 19% since December 2024
55 minutes -
Daily Insight for CEOs: Preparing for 2027 Board and Executive Conversations
1 hour -
World Cup Visa Scandal: There is no ‘justification’ to dismiss me – Kofi Adams
1 hour -
2028 Olympic Games qualification ‘really tough’ – Black Queens coach Björkegren
2 hours -
GRFU, GOC Women’s Commission hold breast cancer awareness, expresses gratitude to Sunda International Ghana
2 hours -
COCOBOD raises GH¢3.4bn as Cocoa Capital PLC lists inaugural commercial paper on GFIM
2 hours -
No Party Card, just a Party Microphone! A Ghanaian story of Elections, Referees and Convenient Amnesia
2 hours -
Minority welcomes suspension of teachers’ strike, demands timely payment of promotion arrears
2 hours