Nigeria Exported Petrol Worth N371bn In Q2 – NBS

Nigeria exported premium motor spirit (PMS), popularly called petrol, valued at N371 billion in the second quarter of 2025, data from the National Bureau of Statistics (NBS) has shown. This is the first time the product has appeared in the country’s export records.

This milestone follows the start-up of the Dangote Petroleum Refinery and its first recorded shipment of the product.

The NBS report also showed a 89.2 per cent decline in petrol (PMS) importation during Q2, signalling an increase in domestic production capacity and export orientation.

Figures from the NBS showed that petrol accounted for 1.63 per cent of total exports in the quarter, compared to zero in the previous quarter and the same period of 2024.

Of the recorded shipments, N85.83 billion worth was delivered to West Africa. At the same time, over three-quarters found markets in Asia and the Middle East, highlighting the refinery’s global orientation from the onset.

Despite this progress, the country imports significantly larger volumes than it exports.

Petrol imports in Q2 2025 reached N2.38 trillion, a decrease from N4.36 trillion in the same quarter of 2024 but still more than six times the value of exports.

The combined import bill for the first half of 2025 was N4.14 trillion, down nearly half from N8.18 trillion in 2024.

Adding petrol to Nigeria’s export list offers new foreign exchange earnings when crude oil production struggles to meet targets.

The development strengthens Nigeria’s role in West Africa’s fuel supply chain.

The region still sources close to 70 per cent of its petrol from outside Africa, making Nigeria’s entry as a supplier a potential game-changer.

If sustained, it could also shift pricing power away from traditional European and Asian exporters.

Industry analysts credit recent government policies, refinery upgrades, and improved supply chain management for this turnaround.

The surge in petrol exports reflects Nigeria’s growing ability to meet local demand from domestic refineries, reducing reliance on imports. This development could positively impact the nation’s foreign exchange reserves and balance of trade.

However, experts caution that sustaining this export momentum will require continued investment in refinery infrastructure, regulatory support, and stability in crude supply.

This milestone underscores Nigeria’s potential to transform its oil and gas sector from import-dependent consumption to a net exporter of refined petroleum products.