Africa’s largest refinery, owned by billionaire industrialist Aliko Dangote, has increased exports of gasoline and urea to African countries facing supply disruptions linked to the ongoing Iran war.

Dangote made this known on Monday during a tour of the Dangote Petroleum Refinery in Lagos, noting that the facility is now running at its full installed capacity of 650,000 barrels per day.

A report by Dangote as saying the refinery has played a vital role in easing the effects of the global supply shock, not only in Nigeria but also in several African countries grappling with fuel and fertiliser disruptions.

“What I can do is assure Nigerians and most of West Africa, Central Africa, and East Africa that we have the capacity to supply them,” Dangote said.

He added that the refinery had shipped about 17 cargoes of gasoline to other African countries in recent weeks as demand surged across the continent. He also noted that urea exports have risen sharply, with the company redirecting supplies to African markets that were previously not key destinations.

” In the last couple of days, we’ve been looking mostly to African countries, which we were not doing before,” he said.

Refinery officials stated that the facility can produce up to three million metric tonnes of urea annually, most of which has traditionally been exported to the United States and South America.

Despite the increase in production and exports, fuel prices in Nigeria have continued to hit record highs, reflecting wider global market pressures. Dangote attributed this trend to elevated crude oil prices, noting that higher refining output alone cannot fully counterbalance the rising cost of feedstock.

Despite the boost in production and exports, fuel prices in Nigeria have continued to reach record highs, driven by broader global market pressures. Dangote attributed the rise to elevated crude oil prices, emphasizing that higher refining output alone cannot fully offset the increasing cost of feedstock.

He, however, expressed optimism that purchasing more crude oil in naira could help ease domestic fuel prices. “We are working towards getting more crude cargoes priced in local currency, which will help in reducing the pressure on fuel costs,” he said.

Government officials noted that the Nigerian National Petroleum Company Limited has boosted crude supply allocations to the refinery, with seven cargoes scheduled for May, up from five in previous months.

Government officials stated that the Nigerian National Petroleum Company Limited has raised crude supply allocations to the refinery, with seven cargoes scheduled for May, up from five in previous months.

The rising demand for petroleum products across Africa is being fueled by a mix of global and regional factors.

The ongoing conflict in the Middle East has disrupted traditional supply chains, prompting many African nations to seek alternative fuel sources closer to home. Meanwhile, limited refining capacity across the continent has left numerous countries heavily reliant on imports.

Additionally, seasonal factors, growing industrial activity, and higher transportation demand have driven increased consumption of refined products like petrol and diesel.

In Nigeria, the removal of fuel subsidies and the deregulation of the downstream sector have made domestic prices more sensitive to international crude oil fluctuations, further contributing to rising pump prices.