Nigeria: Dangote refinery secures at least 16 million barrels for October
The Dangote refinery, located near Lagos, has purchased at least 16 million barrels of Nigerian crude for delivery in October 2026, equating to approximately 520,000 barrels per day, according to four market sources cited on Thursday, September 10, by Reuters. This volume would cover most of the facility’s monthly requirements, which has a processing capacity of 700,000 barrels per day.
The Nigerian National Petroleum Company (NNPC) is set to supply eight cargoes of Nigerian crude to the refinery in October, along with one cargo of WTI Midland from the United States, according to a source cited by Reuters. Dangote has also acquired a second cargo of WTI and additional volumes of Nigerian crude through spot market tenders.
The October purchases are part of a trend that has been building over the past several months. In August, the refinery received approximately 565,000 barrels per day of Nigerian crude, according to Kpler data reported by Reuters, nearly double the average of 280,000 barrels per day recorded in 2025.
This increased demand is mechanically reducing the volumes of Nigerian crude available for export at a time when international buyers are seeking more cargoes outside the Middle East. Supply disruptions related to the conflict with Iran have heightened demand for several African grades in the spot market.
The movement extends the rise in deliveries to local refineries observed in the second quarter. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) reported on August 10 that 53.7 million barrels of crude and condensates were supplied to Nigerian refiners between April and June, representing 97.4% of the volumes allocated under the domestic supply obligation.
The Dangote refinery accounted for the majority of these volumes. According to the NUPRC, producers had offered it 68.1 million barrels in the second quarter for a declared need of 63 million, and the site ultimately accepted 52.6 million.
The group is also preparing for the initial public offering (IPO) of its refinery. Dangote Industries announced on August 18 that it had secured a $1 billion underwriting program to support the operation, consisting of a $600 million private placement and an additional $400 million guarantee commitment.
The official website of Dangote Petroleum Refinery currently presents the Lekki facility as an integrated refinery with a capacity of 700,000 barrels per day, with plans to expand to 1.4 million barrels per day.
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