Dangote Refinery lifts Nigerian fuel exports to UK as refined products hit £1.02bn

Nigeria exported £1.02 billion worth of refined petroleum products to the United Kingdom in the 12 months to June 2026, overtaking crude oil shipments and producing a £245 million surplus in refined fuel trade. The UK government's Trade and Investment Factsheet, released on November 6, 2026, shows the shift as the 650,000-barrel-per-day Dangote Petroleum Refinery expands production and exports.

Refined petroleum represented 53.5% of Britain's merchandise imports from Nigeria, more than double the value in the corresponding period of 2025. It is a major change in a trade relationship long dominated by crude oil.

Crude imports fall

British purchases of Nigerian crude oil declined by 56.2% to £550.3 million. Refined petroleum exports exceeded crude shipments by approximately £467 million. Combined, the two products generated £1.57 billion, or 82.4% of Britain's merchandise imports from Nigeria.

Nigeria's total merchandise exports to the UK reached approximately £1.9 billion, a 10.4% increase from the previous year. Other exports included gas worth £179.5 million, coffee, tea and cocoa products valued at £40.3 million, and beverages and tobacco worth £30 million.

Dangote output lifts volumes

Data from the United States Energy Information Administration showed Nigeria's seaborne petroleum product exports increased more than sevenfold between 2023 and the second quarter of 2026. Exports averaged 350,000 barrels daily in the second quarter of 2026, compared with 46,000 barrels daily in 2023.

Shipments to Europe climbed to 130,000 barrels daily, compared with 40,000 barrels daily in 2025. The figures underline the growing importance of European markets to Nigeria's downstream petroleum industry.

British refined petroleum exports to Nigeria declined by 42.7% to £772.3 million, from approximately £1.35 billion a year earlier. That reduction helped Nigeria record the estimated £245 million surplus in refined petroleum trade with Britain.

Britain also exempted Nigeria from additional compliance requirements linked to restrictions on petroleum products refined from Russian crude. The exemption could help preserve access to the British market as Nigeria seeks to hold its position as a refined petroleum exporter.

What it means for Nigeria

Expanding domestic refining capacity could strengthen foreign exchange earnings, reduce dependence on imported petroleum products and support jobs across refining, transportation and logistics. It could also improve domestic fuel availability. Lower pump prices will still depend on production costs, exchange rates and market conditions.

Separately, Dangote Petroleum Refinery has adopted a European gasoline pricing benchmark, a new method for setting petrol prices at its gantry. Marketers are increasingly looking to international gasoline prices when assessing the cost of petrol supplied by the refinery.