29th September 2025-Published by Cyril

Nigeria has achieved a historic milestone with petrol exports hitting N371.54 billion in Q2 2025, marking the country’s first-ever recorded shipment of Premium Motor Spirit (PMS) following the commencement of operations at the Dangote Petroleum Refinery, Africa’s largest single-train refining complex.

According to data from the National Bureau of Statistics (NBS), petrol accounted for 1.63% of Nigeria’s total exports in the quarter, a sharp turnaround for a nation long dependent on imported fuel due to non-functional state-owned refineries. No petrol exports were recorded in Q1 2025 or in the same period of 2024.

Export destinations and volumes

The report shows that only N85.83bn (23.1%) of petrol exports went to Africa, all within West Africa and ECOWAS markets. The majority—76.9% of exports—were shipped to Asia and the Middle East, with countries like Oman, Singapore, and Malaysia driving early demand. Globally, PMS ranked as Nigeria’s ninth-largest export in Q2 2025 but rose to fifth position in West Africa and fourth within ECOWAS.

Dangote confirmed at the Global Commodity Insights Conference that the refinery exported about 1.35 billion litres (1 million tonnes) of petrol between June and July 2025, equivalent to roughly 90,000 barrels per day, in addition to aviation fuel shipments to Europe and Saudi Arabia.

Import dependence persists

Despite this breakthrough, Nigeria remains a net importer of petrol. Imports stood at N2.38 trillion in Q2 2025, down 45.56% from N4.36 trillion in Q2 2024, but still 6.4 times higher than export earnings. Compared to Q1 2025, imports rose by 34.89%, reaching a cumulative N4.14tn in H1 2025.

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) noted that Nigeria and other West African nations still import about 69% of their PMS demand, averaging 2.05 million metric tonnes monthly, mostly sourced from overseas.

Dangote’s defence and Tinubu’s energy vision

Addressing concerns of monopoly, Aliko Dangote insisted that his refinery was investing heavily to reduce Nigeria’s reliance on foreign fuel.

• “Too many people with the means to contribute prefer to criticise from the sidelines while investing abroad. Our focus is to build energy independence for Nigeria and Africa,” Dangote said.

President Bola Ahmed Tinubu framed the refinery’s exports as part of a broader African energy revolution. On his official X handle, he wrote:

• “Africa can no longer remain a price taker for its resources. It is time to establish credible, transparent benchmarks that reflect our realities and protect our economies.”

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Tinubu added that Nigeria was working with regional partners to establish an integrated African energy market, ensuring domestic supply, rewarding local production, and boosting cross-border prosperity.

Structural shift in energy trade

For decades, petrol was Nigeria’s biggest import bill without appearing in the export ledger. Now, with Dangote’s refinery reshaping the sector, analysts predict that foreign exchange earnings will rise, import bills will decline, and Nigeria’s role as West Africa’s energy hub will be solidified in the coming years.

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