Leading commodity firms Vitol and Trafigura, along with oil major BP, have emerged as the dominant buyers of fuel from Nigeria’s Dangote refinery—Africa’s largest crude processing facility. According to data from Geneva-based analytics firm Precise Intelligence, these companies are securing a significant share of Dangote’s production.
The Dangote refinery, which began fuel production in January 2024 after prolonged delays, started ramping up operations mid-year but has yet to reach its full capacity of 650,000 barrels per day (bpd). Once fully operational, the refinery, owned by the Dangote Group and Africa’s wealthiest individual, Aliko Dangote, is expected to meet all of Nigeria’s demand for refined petroleum products and generate a surplus for export.
Since it commenced operations, Dangote’s refinery has loaded approximately 45 million barrels of fuel, with diesel and fuel oil making up 60% of shipments. Precise Intelligence’s data indicates that most shipments so far have been acquired by Vitol, Trafigura, and BP, underscoring their significant stake in this new supply channel.
In October, Nigeria’s state oil firm NNPC delivered four crude cargoes to the refinery as part of an agreement to supply crude oil, with payments made in naira. This move aligns with Aliko Dangote’s discussions with Nigerian President Bola Tinubu on ensuring stable fuel supplies for the domestic market.