The Dangote Refinery has achieved a new milestone with the shipment of its first petrol cargo to the United States, signalling Nigeria’s entry into the export of refined petroleum products to one of the world’s largest fuel markets. According to global analytics firm Kpler and market sources, the vessel Gemini Pearl loaded around 300,000 barrels of gasoline from Lekki on August 26 and is currently en route to the US, with expectations to offload at the Port of New York or New Jersey.
This marks the first Nigerian petrol consignment to the US, although the refinery has previously supplied products to other markets. In June and July, Dangote shipped three LR2 cargoes, with two heading to the Middle East Gulf and one to Singapore. Analysts suggest the latest export is driven by arbitrage opportunities, as gasoline prices on the US Atlantic Coast have spiked amid limited stockpiles in PADD 1 (East Coast). The development underscores the refinery’s emerging role as a flexible supplier capable of responding to global demand shifts.
Meanwhile, domestic petrol prices in Nigeria continue to reflect global crude market movements. On Tuesday, Brent crude rose by 1.63% to $69.26 per barrel, while WTI jumped 2.78% to $65.79 per barrel. These increases pushed ex-depot petrol prices higher across Nigeria: Rainoil and NIPCO priced at ₦850 per litre in Lagos, Matrix at ₦865 in Warri and ₦870 in Calabar, while Sigmund set the price at ₦870 in Port Harcourt.