June 19 (THEWILL) — Nigerian fuel marketers are increasingly importing refined petroleum products originating from the Dangote Petroleum Refinery through the offshore ship-to-ship trading hub in Lomé, according to an official of S&P Global Commodity Insights.
Speaking at a webinar organised by the Major Energies Marketers Association of Nigeria (MEMAN), S&P Global Energy analyst, Matthew Tracey-Cook, said the trade pattern has become more pronounced in recent months as Dangote expands local production and exports.
According to him, products refined by Dangote are exported on a coastal basis to the offshore Lomé market before being shipped back into Nigeria, particularly Lagos and other coastal locations.
“Over the last six months, if you look at the volume of products on a waterborne basis that’s imported directly into Nigeria, Dangote production has become increasingly dominant”, he said.
Tracey-Cook noted that between March and May 2026, more than 70 percent to 80 percent of products imported into Nigeria by sea originated from Dangote before being re-imported through the Lomé hub.
He added that the trend is also evident in the diesel market, underscoring the refinery’s growing influence on fuel supply across West Africa.
According to S&P Global data presented at the webinar, Lomé remains a major transhipment centre for the region, allowing large vessels to discharge cargoes offshore before smaller ships distribute the products to ports with limited capacity.
The analyst also noted that petrol prices in West Africa have recently traded above European levels, an unusual seasonal trend that has widened price differentials between regional markets.
Tracey-Cook described Dangote and Lomé as the two most important supply hubs in West Africa, adding that the refinery’s role has expanded beyond the region. He disclosed that Dangote emerged as the world’s largest exporter of jet fuel in May 2026 and has increasingly supplied markets in Europe and Africa amid disruptions to global fuel trade flows.
Ogochukwu Onwaeze is a writer specializing in business and economic journalism. At THEWILL News Media, she translates market trends, financial developments, and policy shifts into clear and engaging stories.
