Nigeria’s Dangote refinery has ramped up exports of petrol and urea to African countries facing supply disruptions triggered by the Iran war.
Aliko Dangote said on Monday that the 650,000-barrels-per-day facility has helped cushion the impact of the crisis both domestically and across the continent.
“What I can do is assure Nigerians, and indeed much of West, Central and East Africa that we have the capacity to supply them,” he said during a tour of the refinery.
Dangote disclosed that the plant has shipped about 17 cargoes of gasoline to other African countries, while exports of urea fertiliser have also increased as buyers seek alternative sources.
“In the last couple of days, we’ve focused more on African markets, which we were not doing before,” he said, referring to fertiliser exports, without providing specific volumes.
The refinery has the capacity to produce up to 3 million metric tonnes of urea annually, most of which is typically exported to the United States and South America, according to officials.
Despite the increased output, fuel prices in Nigeria have climbed to record highs, as the refinery’s supply has yet to fully offset the impact of rising global crude prices.
Dangote said the refinery is seeking more crude cargoes priced in local currency to help ease fuel costs.
A Reuters report last week, citing trade sources and a refinery official, said the Nigerian National Petroleum Company (NNPC) had allocated seven May cargoes to the refinery, up from five in previous months.
Oil prices surge
Oil prices extended gains on Tuesday as a US-imposed deadline for Iran to reopen the Strait of Hormuz approached.
President Donald Trump has threatened strikes on Iranian infrastructure, warning of severe consequences if Tehran fails to comply by the deadline.
Roughly one-fifth of global oil supply passes through the Strait, making the الأزمة a key driver of market volatility.
Brent crude futures rose $1.74, or 1.6%, to $111.51 a barrel by 0530 GMT, while US West Texas Intermediate crude climbed $3.45, or 3.1%, to $115.86.
On Sunday, OPEC+ agreed to a modest output increase of 206,000 barrels per day for May. Meanwhile, Saudi Arabia raised the official selling price of its Arab Light crude to Asia to a record premium of $19.50 per barrel above the Oman/Dubai benchmark—up $17 from the previous month.
