Nigeria’s petrol supply is undergoing a major shift as the Dangote Refinery supplied 71% of the country’s petrol in August 2026, pushing fuel imports sharply lower. Data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) shows that domestic petrol receipts rose 39% from 25.8 million litres per day in July to 35.9 million…
Nigeria’s push to rely more on local petrol production is facing an unexpected problem. The Dangote Refinery says rising Nigeria petrol imports are making it harder to plan production and could force it to export excess fuel instead of selling it at home. The warning comes as imported petrol accounted for about 43% of the…
The Dangote Refinery petrol supply to Nigeria’s domestic market fell sharply in July, while petrol imports increased, highlighting the delicate balance between local refining and foreign fuel supplies. New data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) showed that domestic petrol receipts dropped from 32.5 million litres per day in June to…
Nigeria has achieved a major milestone in its downstream petroleum sector, with domestic refineries supplying 100% of the country’s aviation fuel (Jet A-1) demand for the past 13 consecutive months, completely eliminating the need for imports. Official industry data shows that no aviation fuel imports have entered the country during the period. The shift has…
Nigeria’s foreign exchange market has recorded a major milestone after weekly turnover climbed to $4.375 billion, marking the first time in 2026 that trading activity has crossed the $4 billion mark. The surge reflects improving liquidity and stronger participation in the country’s official FX market. According to market data, the increase was driven largely by…
The United States has imposed a 12.5% tariff on most imports from Nigeria, citing concerns over the country’s enforcement against goods linked to forced labour. Nigeria is among 60 trading partners affected by the latest trade measures announced by the Trump administration. According to US officials, the new tariffs are part of a broader effort…
The Federal Government has unveiled fresh economic measures aimed at stabilising Nigeria’s financial system and easing the cost of imports, with the Central Bank of Nigeria (CBN) set to aggressively withdraw excess market liquidity while the Nigeria Customs Service confirms lower import tariffs on vehicles. The CBN plans to raise between ₦1.35 trillion and ₦2…
Nigeria recorded fresh economic milestones this week as the naira remained relatively stable against the U.S. dollar while the Dangote Petroleum Refinery continued to strengthen the country’s position in the global energy market through record aviation fuel exports to Europe. The naira traded at around ₦1,370 to the U.S. dollar in the official foreign exchange…
