In a development that underscores the contradictions at the heart of Nigeria’s downstream petroleum sector, fuel marketers are increasingly importing refined products originally produced by the Dangote Petroleum Refinery—but only after the cargoes are first exported to Togo and traded through the offshore hub in Lomé before returning to Nigerian shores.
The revelation has reignited uncomfortable questions about Nigeria’s fuel supply chain and years of public spending on state-owned refineries that have remained largely non-operational despite repeated rehabilitation efforts.
Speaking during a webinar organised by the Major Energies Marketers Association of Nigeria (MEMAN), Tracey-Cook said data from the past six months shows that products refined by Dangote have become the dominant source of waterborne fuel imports arriving back into Nigeria.
“Over the last six months, if you look at the volume of products imported directly into Nigeria on a waterborne basis, Dangote production has become increasingly dominant,” he said.
According to the analyst, between March and May 2026, more than 70 to 80 percent of products imported by sea into Nigeria originated from the Dangote Refinery before being routed through offshore trading facilities in Lomé.
“For several months, from March until May, we saw well over 70 to 80 per cent of the volumes that were imported into Nigeria actually originated from Dangote,” Tracey-Cook explained, adding that similar trends are evident in diesel supplies.
The unusual trade flow means petroleum products refined within Nigeria are exported, transferred offshore at Lomé through ship-to-ship operations, and then shipped back into the country for local consumption.
Industry experts say the practice reflects the growing importance of the Lomé hub as a logistics and transshipment centre for West Africa, where large vessels offload cargoes onto smaller ships capable of serving ports with draft limitations.
“Lomé has become an increasingly important transshipment hub for filling regional shortages,” Tracey-Cook noted, explaining that many West African ports cannot accommodate fully laden medium-range tankers.
At the same time, the disclosures have revived longstanding questions about pricing dynamics between domestic and international markets.
Tracey-Cook observed that Dangote’s pricing remains closely linked to benchmarks established at the Lomé ship-to-ship market, suggesting arbitrage opportunities may encourage traders to purchase products offshore before bringing them back into Nigeria.
The findings echo complaints raised by some Nigerian fuel marketers in 2025, when industry groups alleged that petrol sold by Dangote to international traders could be acquired at prices significantly below those offered directly to local buyers. At the time, representatives of the Depot and Petroleum Product Marketers Association of Nigeria claimed some members found it cheaper to buy Dangote-produced fuel after it had been exported to Togo than to source it domestically.
Dangote Refinery rejected those allegations, insisting it did not discriminate against Nigerian buyers and denying claims that it sold fuel more cheaply in neighbouring countries.
Beyond Nigeria, S&P Global data indicates the refinery has rapidly emerged as a major supplier across regional and international markets. Tracey-Cook said exports of petrol, diesel and jet fuel from Dangote have reached destinations including the United Kingdom, the Netherlands and South Africa.
He added that following disruptions in global energy markets linked to conflict in the Middle East, Dangote played an increasingly significant role in stabilising jet fuel supplies, even becoming one of the world’s largest exporters of the product during parts of 2026.
The latest disclosures are likely to intensify public debate over Nigeria’s energy policy, particularly after years of enormous public investment in government-owned refineries that failed to achieve sustained production.
For critics, the spectacle of Nigerian-made fuel leaving the country only to be re-imported through another nation highlights the inefficiencies that have long plagued the sector and raises fresh questions about whether billions spent rehabilitating state refineries delivered value for taxpayers.
Supporters of the current trading model, however, argue that the movement of cargoes through Lomé reflects commercial logistics, shipping economics and regional distribution networks rather than a simple case of importing Nigeria’s own fuel.
Either way, the optics are striking: in Africa’s largest oil-producing nation, petrol refined in Lagos is increasingly making a round trip through Togo before ending up back in Nigerian tanks.
