<< Back             Poser >> Dangote Refinery drives historic shift as Nigeria becomes net petrol exporter Business By Udeme Akpan Dangote Petroleum Refinery & Petrochemicals has recorded a major milestone in Nigeria’s energy history, exporting 44,000 barrels per day (b/d) of gasoline in March 2026—an achievement that has positioned the country as a net exporter of petrol for the first time, with a surplus of about 3,000 b/d. The landmark development marks a decisive turnaround for Nigeria, Africa’s largest oil producer, which for decades depended heavily on imported refined petroleum products. Industry analysts say the export surge, driven by rising output from the refinery, is expected to generate significant foreign exchange inflows, easing pressure on the forex market and supporting macroeconomic stability. The March milestone highlights Nigeria’s accelerating progress toward self-sufficiency in refined petroleum products and reinforces its ambition to become a competitive player in the global downstream oil market. In a notable expansion of its international footprint, the refinery also exported gasoline to East Africa for the first time, shipping a 317,000-barrel cargo to Mozambique. The move reflects growing regional demand as buyers diversify supply sources away from the Middle East amid ongoing disruptions. Another gasoline cargo is scheduled for delivery to Beira, Mozambique, in April. Data from market intelligence firm Kpler showed that Nigeria’s gasoline imports dropped sharply to 41,000 b/d in March—the lowest level on record. Meanwhile, crude supply to the refinery rose to about 565,000 b/d, the second-highest intake since the 650,000 b/d-capacity facility began operations in late 2023. The figures indicate strong processing rates and improving product yields. Analysts say Nigeria’s transition from a major gasoline importer to an exporter is set to reshape regional trade flows and intensify competition in global fuel markets. The development could also exert additional pressure on Europe’s already oversupplied gasoline market as Nigeria emerges as a new supplier. Commenting on the broader economic impact, President and Chief Executive of Dangote Industries Limited, Aliko Dangote, credited reforms by President Bola Ahmed Tinubu for restoring investor confidence and creating an enabling environment for large-scale investments in domestic refining. Vanguard	Naira depreciates to N1,362/$ in parallel market The Naira yesterday depreciated to N1,362 per dollar from N1,357 in the parallel market on Monday. West Africa must modernise agriculture for food security – Experts Experts have called for the urgent modernisation of agriculture across West Africa, stressing the need to move beyond increased production and focus on transforming agricultural value chains to ensure food security and improved nutrition amid growing climate and population pressures. Climate change threatens Nigeria’s food systems as farmers count losses ….experts call for urgent, sustainable measures to mitigate impacts By Gabriel Ewepu ABUJA — Nigeria’s food system is facing growing threats from climate change as erratic rainfall, prolonged dry spells, flooding, rising temperatures, pests and diseases disrupt farming activities, slash yields and leave farmers counting losses running into billions of Naira. The situation, according to […] World Bank: Fuel price to slow Nigeria’s poverty reduction •Says rising pre-election spending may derail reforms •Raises Nigeria’s 2026 growth forecast to 4.3% •Projects 15.7% inflation rate for 2026 •44% of firms in Nigeria, Kenya adopt AI, power constraints threaten gains By Babajide Komolafe, Economy Editor The World Bank has warned that elevated fuel prices could slow Nigeria’s poverty reduction efforts despite an expected […] Government releases GH¢9.1b covering six quarters of DACF to MMDAs – Ayariga Mr Mahama Ayariga, the Minister of Local Government, Chieftaincy and Religious Affairs, has announced government's release of GH¢9.1 billion, covering six quarters of the District Assemblies Common Fund (DACF) to Metropolitan, Municipal, and District Assemblies (MMDAs) nationwide. Cedi was worst African currency in quarter 2, 2026 – World Bank According to the World Bank, the escalation of the conflict in the Middle East initially exerted broad-based pressure on African currencies.