According to the average estimate of analysts at WoodMac, FGE, and Citac, the refinery is currently running at about 300,000 barrels a day, nearly half its nameplate capacity.

Reuters recently reported that the Dangote oil refinery could end a decades-long petrol trade from Europe to Africa, worth $17 billion a year.

Reuters, quoting analysts and traders, said the Dangote refinery was heaping pressure on European refineries already at risk of closure from heightened competition.

About a third of Europe’s 1.33mbpd average petrol exports in 2023 went to West Africa, a bigger chunk than any other region, with most of those exports ending up in Nigeria, Reuters said, quoting Kepler data. But this, Dangote assured, would become a thing of the past in June.