Nigeria Begins Petrol Exports, Rakes in N371bn in Q2

Nigeria exported petrol valued at N371.54 billion in the second quarter of 2025, 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.

Figures from the National Bureau of Statistics (NBS) show that petrol accounted for 1.63 percent 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, while over three-quarters found markets in Asia and the Middle East, highlighting the refinery’s global orientation from the onset.

Read also: Dangote Refinery starts petrol export to West African countries

Despite this progress, the country continues to import significantly larger volumes than it exports. Related News

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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 the corresponding period of 2024.

The addition of petrol to Nigeria’s export list offers new foreign exchange earnings at a time when crude oil production struggles to meet targets.

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

The region still sources close to 70 percent 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 exporters in Europe and Asia.

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