Nigeria’s petrol exports surge sixfold, near N1tn
Nigeria earned N998.50bn from petrol exports, known as motor spirit (ordinary) or Premium Motor Spirit, in the first six months of 2026. Analysts say the Dangote Petroleum Refinery’s ramp-up and the war in Iran turned a commodity that once topped the import bill into one of the country’s leading exports. The National Bureau of Statistics’ Read More:…
Nigeria's petrol exports have surged sixfold in the first six months of 2026, reaching N998.50bn, according to the National Bureau of Statistics' trade statistics report. Analysts attribute this increase to the ramp-up of the Dangote Petroleum Refinery and the impact of the Iran war on global refined-product availability. In Q2 2026, PMS ranked seventh among Nigeria's top exports, with N546.02bn earned from African trading partners, making up 2.02% of total exports.
Crude oil led all exports, followed by kerosene-type jet fuel, natural gas, urea, other petroleum gases, and gas oil. This change is a stark contrast to a year earlier, when PMS ranked among the top imports in Q1 2025, with Nigeria spending N1.76tn on PMS imports, indicating domestic demand still absorbed the output of the Dangote Refinery at the time.
Written by urgent.news from Punch's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
