Dangote refinery‘s operations will significantly affect the importation of refined petroleum products from Belgium into Nigeria and the short-term overall trade volume between both countries, the Belgian Ambassador to Nigeria, Pieter Leenknegt, has said.
Before the operations of Dangote refinery, Nigeria, a major oil producer, imported virtually all of its petroleum products, with a significant amount of it coming from Belgium.
However, the refinery, which began operations last year, says it can produce enough petrol for local consumption.
In an exclusive interview with PREMIUM TIMES, Mr Leenknegt said the growth in Nigeria’s refining capacity is expected to reduce importation of refined petroleum from Belgium significantly.
He described this as “the Dangote Refinery effect,” while stating that a major dip in Belgium’s refined oil trade with Nigeria, where the country has long been a key supplier, is much anticipated.
He said he expects the operations of the Dangote refinery to begin reflecting in the trade data between Nigeria and Belgium by the end of 2025.
“Clearly, this (Dangote refinery operations) is not going to be without any consequences for our bilateral trade in the short run,” he said.
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