NIGERIA exported Premium Motor Spirit (PMS), popularly known as petrol, worth N371.54 billion in the second quarter of 2025, the first recorded shipment of the product since the Dangote Petroleum Refinery began operations.
News Point Nigeria reports that this development marks a turning point for Africa’s largest crude producer, which for decades relied heavily on imports due to moribund state-owned refineries.
According to trade data released by the National Bureau of Statistics (NBS), petrol accounted for 1.63 per cent of total exports in the quarter. No exports were recorded in Q1 2025 or the same quarter in 2024, underscoring the impact of the new refinery.
A closer look at the numbers shows that only N85.83bn (23.1 per cent) of petrol exports were sold to Africa, all within West Africa and the ECOWAS region. The bulk, 76.9 per cent went outside the continent, with markets in Asia and the Middle East driving early demand. Within Africa, petrol ranked fifth among West African exports and fourth within ECOWAS, but globally, it was Nigeria’s ninth-largest export in Q2.
Despite this milestone, Nigeria still imported N2.38 trillion worth of petrol during the same period. Although this was 45.56 per cent lower than the N4.36tn spent in Q2 2024, it was nearly 6.4 times the value of exports. On a quarterly basis, imports rose by 34.89 per cent compared to N1.76tn in Q1 2025.
For the first half of 2025, petrol imports stood at N4.14tn, compared to N8.18tn in 2024 H1, reflecting a 49.41 per cent decline. Analysts say this is evidence that increased local refining is gradually cutting down Nigeria’s dependence on foreign supply.
Alhaji Aliko Dangote, President of the Dangote Group, confirmed that the refinery exported about 1.35 billion litres of petrol (one million tonnes) between June and July 2025.
Speaking at the Global Commodity Insights Conference on West African Refined Fuel Markets, organised by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) with S&P Global, he added that aviation fuel had also been exported to Europe and Saudi Arabia.
“From June to date, we have exported about one million tonnes of PMS within just 50 days,” Dangote said. He stressed that the refinery’s focus was reducing Nigeria’s dependence on imports while creating regional energy security.
Reports from S&P Global showed that petrol exports spiked to 90,000 barrels per day in June 2025, reaching markets as far as Oman, Singapore, and Malaysia. However, technical challenges and maintenance on its catalytic cracking unit limited volumes in the early months.
Under a naira-for-crude agreement with the Federal Government, the refinery is required to supply fixed volumes locally to safeguard domestic availability amid fears that an aggressive export push could undermine Nigeria’s internal market.
Dangote rejected claims of monopolising the downstream sector, stating: “Too many with the means to contribute prefer to criticise while investing abroad. Our focus is to build energy independence for Nigeria and Africa.”
NMDPRA Chief Executive, Farouk Ahmed, noted that Nigeria and other West African countries still import 69 per cent of petrol needs, with an average of 2.05 million metric tonnes traded monthly in the region, mostly from overseas suppliers.
The United States has also emerged as a potential buyer, having imported 630,000 barrels per day of petroleum in Q2 2025. Industry analysts believe Dangote’s petrol could secure a foothold in the US market due to compliance with its high-quality standards.
President Bola Tinubu hailed the refinery’s output as a catalyst for reshaping Africa’s role in global energy markets. In a post on his official X handle, he declared:
“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.”
Tinubu also disclosed that Nigeria is working with regional partners to create an integrated market that guarantees domestic access to energy while deepening cross-border prosperity.
For decades, petrol dominated Nigeria’s import bill without contributing to exports. With Dangote’s refinery now generating global supply flows, Nigeria is transitioning into both a regional supplier and a player in the global refined products trade.
Analysts predict that as production ramps up, Nigeria’s foreign exchange earnings will rise, import bills will shrink, and the country’s strategic influence as West Africa’s energy hub will grow stronger.