By Sidney Amoje
Business News Correspondent
Nigeria’s petroleum sector is witnessing renewed competition as fuel marketers ramp up imports, bringing in petrol worth over ₦2.4 trillion in a bid to maintain market share despite the growing influence of the Dangote Refinery.
According to recent data, independent and major marketers have significantly increased fuel imports amid concerns that the 650,000 barrels-per-day Dangote Refinery could shift the dynamics of the domestic supply chain. The refinery, which began test operations earlier this year, is expected to reduce Nigeria’s reliance on imported refined products, a development that threatens the market dominance of traditional importers.
Industry analysts say the massive import figure signals a strategic response by marketers to secure their position before the refinery becomes fully operational and begins large-scale distribution. By flooding the market with imported petrol, marketers may be attempting to create a buffer against potential pricing or supply shifts.
“This ₦2.4 trillion import bill reflects how seriously fuel marketers are taking the threat posed by Dangote’s refinery,” said energy economist, Bisi Ayodele. “They’re protecting their turf while preparing for what could be a major industry shakeup.”
Despite the competition, the Dangote Refinery is positioning itself as a game-changer in Africa’s energy landscape. Once fully active, it is projected to not only meet domestic demand but also export refined products across West Africa.
While consumers may benefit from improved supply and potentially lower prices in the short term, experts warn that the market could experience volatility as new and existing players jostle for control.
The coming months are expected to define the future of fuel distribution in Nigeria, as the Dangote Refinery and importers continue their high-stakes battle for dominance in the downstream oil sector.
