Nigeria exported premium motor spirit (PMS), popularly known as petrol, valued at ₦371 billion in the second quarter of 2025, according to data released by the National Bureau of Statistics (NBS). This marks the first time petrol has featured in the country’s export records, signalling a structural shift in Nigeria’s downstream sector.
The milestone follows the operational take-off of the Dangote Petroleum Refinery, whose first shipments of refined petrol have now entered global markets.
The NBS data also showed that petrol imports declined sharply by 89.2 per cent in the same quarter, underlining the impact of increased domestic refining capacity and a new export orientation.
Petrol accounted for 1.63 per cent of total exports in Q2 2025, compared to zero in the same period of 2024. Of this, ₦85.83 billion worth of shipments went to West Africa, while over three-quarters of the exports were delivered to markets in Asia and the Middle East. Analysts say this global spread highlights the refinery’s competitive positioning beyond regional supply.
Despite the new export earnings, Nigeria still imports far more petrol than it exports. PMS imports were valued at ₦2.38 trillion in Q2 2025, down from ₦4.36 trillion a year earlier but still more than six times the value of exports. For the first half of 2025, the import bill stood at ₦4.14 trillion, compared with ₦8.18 trillion in the same period of 2024.
The addition of petrol to Nigeria’s export basket provides fresh foreign exchange inflows at a time when crude oil output remains below OPEC+ targets. It also enhances Nigeria’s role in West Africa’s fuel supply chain, where nearly 70 per cent of demand is still met from outside the continent.
Industry observers say sustained exports could gradually shift pricing power away from traditional European and Asian refiners toward African suppliers.
Analysts credit recent government policies, refinery upgrades, and better supply chain management for the turnaround. They note that local refineries are now meeting a growing share of domestic demand, helping to cut the reliance on costly imports.
“This development could strengthen Nigeria’s foreign exchange reserves and balance of trade,” one energy analyst said.
However, experts also cautioned that sustaining export momentum would require continued investment in refinery infrastructure, stable crude supply, and consistent regulatory support.
The emergence of petrol as an export item underscores Nigeria’s potential to transform from an import-dependent economy to a net exporter of refined petroleum products. If consolidated, the trend could be a long-awaited turning point for the country’s oil and gas sector.
