NIGERIA’S PETROL EXPORTS REACH NEARLY N1TN IN SIX MONTHS

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Nigeria earned N998.50bn from petrol exports in the first six months of 2026, reflecting a sharp increase in the country’s refined petroleum exports, according to data from the National Bureau of Statistics.

The NBS trade statistics showed that N621.72bn of the petrol export earnings came from African markets. Petrol ranked among Nigeria’s leading export commodities during the period.

In the second quarter alone, petrol exports were valued at N546.02bn, representing 2.02 per cent of Nigeria’s total exports. The figure was more than six times the N85.83bn recorded in the second quarter of 2025.

The growth has been linked largely to increased production at the Dangote Petroleum Refinery, which has expanded domestic supply and created additional volumes for export.

Analysts said the refinery’s location also gives Nigeria a logistical advantage in supplying African markets, particularly because shorter shipping routes can reduce transportation costs.

They also attributed part of the increase to disruptions in global refined-product supplies following the conflict involving Iran, which affected energy flows and increased demand for alternative suppliers.

Despite the rise in exports, Nigeria continued to import petrol during the period. NBS data showed that the country imported N952.15bn worth of petrol in the second quarter, exceeding exports of N546.02bn during the same period.

The figures point to a growing role for refined petroleum products in Nigeria’s export trade as domestic refining capacity expands.