Nigeria has recorded its first petrol exports in decades, a historic turnaround driven by the Dangote Petroleum Refinery. But despite earning ₦371.54bn from Premium Motor Spirit (PMS) exports in the second quarter of 2025, the country remains heavily reliant on imports, exposing the limits of its refining progress.
Dangote Refinery Changes the Equation
The National Bureau of Statistics revealed that petrol accounted for 1.63 per cent of Nigeria’s total exports in Q2 2025. This marks a seismic shift for a nation that had for years imported all its fuel due to the collapse of state-owned refineries.
Aliko Dangote, President of the Dangote Group, confirmed that the refinery exported about 1.35 billion litres of PMS between June and July, equal to one million tonnes. Speaking at a global commodity insights forum in Abuja, he declared Nigeria a net exporter of refined fuels for the first time in history.
“From June to date, we have exported about one million tonnes of PMS within just 50 days,” Dangote said, highlighting additional shipments of aviation fuel to Europe and Saudi Arabia.
Regional and Global Markets Open Up
The trade data showed that only 23.1 per cent of the exports, valued at ₦85.83bn, went to Africa exclusively within ECOWAS. The majority, nearly 77 per cent, found markets outside the continent, with Asia and the Middle East emerging as early buyers.
Globally, PMS ranked as Nigeria’s ninth-largest export in Q2. But within ECOWAS, it rose to fourth place, reflecting the Refinery’s growing regional influence. S&P Global further reported that gasoline exports spiked to around 90,000 barrels per day in June, reaching markets as far as Oman, Singapore, and Malaysia.
Imports Still Dominate
Yet, beneath the optimism, the numbers tell a sobering story. Nigeria imported ₦2.38tn worth of petrol in Q2 2025 six times the value of exports. While this represents a 45 per cent drop from Q2 2024, it underscores how deeply entrenched fuel import dependence remains.
Quarter-on-quarter, imports even rose 34.89 per cent from Q1 2025, hitting ₦4.14tn in the first half of the year. Analysts believe sustained output from Dangote’s Refinery could narrow this gap, but warn that demand still outpaces domestic supply.
Balancing Exports and Local Supply
Under a naira-for-crude agreement with the federal government, the refinery is obliged to prioritise domestic supply. This has become critical amid fears that aggressive exports could tighten local availability and trigger pump price hikes.
Dangote dismissed monopoly concerns, stressing that his group’s investments aim to reduce dependence on foreign imports. “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,” he said.
A Structural Shift in Energy Trade
Despite the import pressure, the emergence of petrol exports signals a structural shift in Nigeria’s energy trade. For decades, PMS featured prominently in import bills but never in export data. Today, with Dangote’s Refinery shipping products to West Africa, Asia, and beyond, Nigeria is repositioning itself as both a regional supplier and a player in global refined products markets.
Industry analysts say that as Refining capacity scales up, foreign exchange earnings will strengthen, import bills will shrink, and Nigeria’s role as West Africa’s energy hub will become more secure.