Oando Suspends Petrol Imports as Dangote Refinery Ramps Up Supplies 

Oando Plc has stopped bringing petrol into Nigeria, citing a rapidly changing domestic supply picture since the Dangote Petroleum Refinery began regular deliveries to marketers, a shift that has squeezed trading margins and cut the company’s topline.

In its nine-month 2025 update, Oando reported that group revenue fell 20 per cent year-on-year to ₦2.5 trillion, attributing the decline primarily to a slowdown in gasoline trading as local output ramped up.

The company’s filing on the Nigerian Exchange shows refined-product trading volumes all but disappeared during the period, with Oando’s trading arm focusing instead on crude cargoes while the refinery’s growing footprint altered pricing and availability in the downstream market.

Management characterised the Dangote ramp-up as a structural change that has “positively transformed” the refined-product landscape, even as it compresses import-linked revenues for marketers.

Independent reporting from Nigerian outlets corroborates the strategic pause, noting that Oando suspended petrol importation in response to Dangote’s output and the pressure it has exerted on traditional import channels.

The company’s communication aligns with broader market commentary that local supply is increasingly displacing imports once dominated by private traders.

Despite weaker trading income, Oando highlighted stronger upstream contributions in the period, including higher crude and gas production following asset consolidation, while reiterating that the pivot away from petrol imports is a response to market realities rather than a retreat from the downstream business.

The firm said it would continue to calibrate its trading strategy as domestic refining stabilises and pricing normalises.

Sector analysts say the Dangote facility’s growing deliveries are reordering Nigeria’s fuel logistics, narrowing import opportunities and forcing marketers to reassess supply portfolios. Recent coverage has framed Oando’s move as emblematic of that transition, with pressure likely to persist as the 650,000-barrel-per-day plant scales output to meet local demand.