Nigeria earned N998.5 billion from petrol exports in the first six months of 2026, marking a sharp increase in the value of the country’s refined petrol exports.
The latest figures from the National Bureau of Statistics (NBS) show that the value represents a major rise compared with the previous year, as Nigeria increasingly supplies refined petroleum products to international and regional markets.
In the second quarter of 2026 alone, Nigeria exported N546.02 billion worth of Premium Motor Spirit (PMS), commonly known as petrol. PMS ranked as the country’s seventh-largest export during the quarter and accounted for about 2.02 per cent of total exports.
The figure represents more than a sixfold increase compared with the N85.83 billion recorded in the second quarter of 2025.
The growth has been closely linked to the increasing output of the Dangote Petroleum Refinery, which has expanded its production and supplied more refined petroleum products to both domestic and foreign markets.
Analysts cited in reports attributed the increase partly to improved operations at the refinery, particularly after challenges affecting its Residue Fluid Catalytic Cracking unit had limited petrol production.
The development represents a significant change in Nigeria’s petroleum trade. For years, the country relied heavily on imported petrol to meet domestic demand despite being a major crude oil producer.
In the first quarter of 2025, Nigeria spent about N1.76 trillion on petrol imports, while PMS did not feature among the country’s leading exports during that period. By the second quarter of 2026, petrol had become one of Nigeria’s notable export products.
African countries accounted for a substantial portion of the export earnings. About N621.72 billion of Nigeria’s petrol export earnings during the first half of 2026 came from African trading partners.
The increase in refined-product exports could help reduce Nigeria’s dependence on imported petrol and lower the amount of foreign exchange required to purchase refined fuel from overseas.
Crude oil remained Nigeria’s largest export in the second quarter, generating N12.91 trillion, while jet fuel, natural gas, urea and other petroleum products also recorded significant export values.
However, the sustainability of the petrol export growth will depend on refinery output, domestic demand, international fuel prices and the reliability of Nigeria’s refining infrastructure.
The latest figures nevertheless highlight the growing importance of domestic refining to Nigeria’s petroleum industry and the country’s expanding role as a supplier of refined fuel within the African market.
