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Nigeria’s Dangote Refinery, Africa’s largest, has increased exports of gasoline and urea to African nations affected by supply disruptions caused by the Iran conflict, according to owner Aliko Dangote.
Operating at its full capacity of 650,000 barrels per day, the refinery has helped mitigate the impact of the crisis in Nigeria and across the continent. Dangote assured that the facility has the capacity to meet the fuel and fertiliser needs of Nigeria, as well as West, Central, and East Africa.
The refinery has shipped around 17 cargoes of gasoline to other African countries, while exports of urea fertiliser have recently risen as buyers seek alternative sources. Traditionally, most of the refinery’s annual 3 million metric tons of urea were exported to the United States and South America.
Despite these efforts, fuel prices in Nigeria have reached record highs, as the refinery’s maximum output has not fully offset the effects of elevated crude oil prices. Dangote added that securing more crude cargoes priced in local currency could help ease domestic fuel costs.
Additionally, the Nigerian National Petroleum Company (NNPC) has increased allocations to Dangote Refinery, with seven crude cargoes scheduled for May, up from five in previous months.
Source: 3news
