Nigeria’s Petrol Exports Reach ₦998.5bn in First Half of 2026

Nigeria earned ₦998.5 billion from petrol exports in the first half of 2026, more than six times the value recorded in the same period a year earlier. African buyers accounted for ₦621.72 billion, representing over 60 per cent of the exports. Petrol exports were valued at ₦546.02 billion in the second quarter alone, making PMS Nigeria’s seventh-largest export commodity. This marks a major shift from early 2025, when the country was still spending heavily on petrol imports. Analysts linked the growth to higher output from the Dangote refinery, which now supplies more than half of Nigeria’s domestic petrol demand while exporting surplus petrol, diesel and jet fuel. Disruptions to Middle Eastern supply routes and Nigeria’s shorter shipping distance to African markets also improved demand for locally refined products. The rise could strengthen Nigeria’s trade balance by reducing foreign-exchange spending on imported fuel and expanding earnings from refined petroleum exports.

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