Nigeria’s Petrol Export Hits N371.5bn Amid Heavy Import Reliance
Nigeria exported Premium Motor Spirit (PMS), popularly known as petrol, worth N371.54 billion in the second quarter of 2025, marking the country’s first-ever recorded shipment of the product after the commencement of operations at the Dangote Petroleum Refinery.
According to fresh data released by the National Bureau of Statistics (NBS), petrol accounted for 1.63 per cent of Nigeria’s total exports during the quarter. This milestone signals a structural shift in the country’s energy trade, which for decades had been defined by heavy reliance on imports due to the persistent failure of state-owned refineries.
No petrol exports were recorded in either the first quarter of 2025 or the same period in 2024, making the Dangote Refinery’s output a turning point in Nigeria’s economic history.
The refinery, described as Africa’s largest single-train refining complex, has already positioned the country as a supplier to regional and global fuel markets.
Analysis of the trade data showed that N85.83bn worth of petrol exports, representing 23.1 per cent, went to Africa, with all shipments concentrated within West Africa, particularly the Economic Community of West African States (ECOWAS).
The remaining 76.9 per cent was exported outside the continent, with Asia and the Middle East emerging as early buyers.
Globally, petrol ranked as Nigeria’s ninth-largest export in Q2 2025. Within West Africa, it rose to fifth place and fourth position within ECOWAS, highlighting the refinery’s role in reshaping Nigeria’s regional trade profile.
Despite the breakthrough, Nigeria still remained a net importer of petrol. Imports stood at N2.38 trillion in Q2 2025 down 45.56 per cent from N4.36 trillion in the same period of 2024, but still nearly 6.4 times the value of exports. Compared to N1.76 trillion in Q1 2025, imports rose by 34.89 per cent quarter-on-quarter.
Cumulatively, Nigeria imported N4.14 trillion worth of petrol in the first half of 2025, representing a 49.41 per cent decline compared to N8.18 trillion in the same period of 2024.
Speaking at the Global Commodity Insights Conference on West African Refined Fuel Markets, the President of Dangote Group, Alhaji Aliko Dangote, confirmed that the refinery exported about 1.35 billion litres of petrol between June and July 2025, equivalent to one million tonnes.
He added that the facility also began exporting aviation fuel to Europe and Saudi Arabia.
“From June to date, we have exported about one million tonnes of PMS within just 50 days,” Dangote revealed, noting that Nigeria had effectively become a net exporter of refined products for the first time.
Industry data from S&P Global further reported that gasoline exports from the refinery surged to 90,000 barrels per day in June 2025, with shipments reaching Oman, Singapore, and Malaysia. However, early operations were affected by production outages and maintenance works on the catalytic cracking unit, limiting overall volumes.
Despite concerns that the refinery’s export drive could undermine domestic supply, the company has a naira-for-crude agreement with the Nigerian government, obligating it to supply fixed volumes of refined products locally.
Dangote dismissed allegations of monopolising the sector, stressing that his focus was on building energy independence for Nigeria and Africa.
President Bola Tinubu hailed the refinery’s impact, noting that Africa could no longer remain a “price taker” in global energy markets.
He emphasized that Nigeria and its regional partners are working toward an integrated market to ensure energy security, reward local production, and boost cross-border prosperity.
Sodiq Lawal is a passionate and dedicated journalist with a knack for uncovering captivating stories in the bustling metropolis of Osun State and Nigeria at large. He has a versatile reporting style, covering a wide range of topics, from politics , campus, and social issues to arts and culture, seeking impact in all facets of the society.
