Dangote RFCC slowdown slashes gasoline output, forces Nigeria to import more and strains FX reserves

On July 23, 2026 the Dangote Refinery's RFCC unit cuts gasoline output sharply (exports fell from 81,000 bpd in April to about 10,000 bpd by June 2026), forcing Nigeria to re-import refined products and increasing pressure on the country's foreign-exchange reserves and import bill.

Reduced refinery output raises Nigeria's refined-product import needs, which can draw down FX reserves and increase external financing requirements for the sovereign and fuel-importing corporates. That conditional rise in external financing needs can widen sovereign and corporate USD spreads and add stress to FX liquidity if imports must be financed in hard currency.

Whether the RFCC unit is returned to service by November 2026, and any official estimate of additional fuel-import spending or reserve drawdown.