Aliko Dangote’s refinery is increasing purchases of Nigerian crude oil as the ongoing Iran war reshapes global energy markets, creating an unexpected opportunity for Africa’s largest refinery to strengthen its grip on domestic supply.
According to Bloomberg, the Dangote Petroleum Refinery has stepped up purchases of Nigerian crude as overseas buyers pull back from some West African grades amid uncertainty surrounding Middle East oil supplies.
The shift has helped lift premiums for Nigerian crude relative to Angolan grades, highlighting how geopolitical tensions are beginning to alter traditional trading patterns.
But beyond the immediate impact on crude prices, the development underscores a broader transformation taking place in Nigeria’s oil industry.
For decades, Africa’s largest oil producer exported most of its crude while importing much of the refined fuel consumed domestically.
