Dangote Refinery Boosts Nigeria's Petrol Exports to N998.5bn

In the first half of 2026, Nigeria's earnings from Premium Motor Spirit (PMS) exports reached N998.5bn, a more than sixfold increase year-on-year, according to the National Bureau of Statistics (NBS). This surge was attributed to heightened production by the Dangote refinery and disruptions in global supply routes.

African buyers contributed N621.72bn, over 60% of the total PMS export value. In the second quarter of 2026, petrol exports were valued at N546.02bn, making PMS Nigeria's seventh-largest export commodity.

This marked a significant recovery for Nigeria, which had heavily relied on petrol imports just a year prior. Analysts, including Abeeblahi Rufai, noted that the turnaround was due to improved operations at the Dangote refinery and the impact of geopolitical tensions affecting Middle Eastern supply routes.

These disruptions prompted African buyers to seek Nigerian products, benefiting from shorter shipping distances compared to suppliers from the Middle East and Asia.