Nigeria earned nearly N1 trillion from petrol exports during the first half of 2026, with African markets accounting for more than 60% of the revenue as the country strengthens its position as a regional supplier of refined fuel.
Foreign trade data from Nigeria’s National Bureau of Statistics shows that petrol exports generated N998.5 billion between January and June, of which N621.72 billion came from exports to African trading partners.
The figures mark a significant shift for Nigeria, which has historically relied heavily on imported petrol despite being one of Africa’s largest crude oil producers.
The change has coincided with the expansion of the Dangote Petroleum Refinery near Lagos, which has a nameplate capacity of 650,000 barrels of crude oil per day and is increasingly supplying both the Nigerian market and customers abroad.
Petrol Becomes a Growing Export Product
Petrol exports generated N546.02 billion during the second quarter alone, making the product Nigeria’s seventh-largest export commodity and accounting for 2.02% of total exports during the period.
The value was more than six times higher than the N85.83 billion recorded during the same quarter a year earlier.
The increase is particularly significant when compared with Nigeria’s previous dependence on imported fuel. Petrol was not among the country’s major exports in the first quarter of 2025, while Nigeria spent approximately N1.76 trillion importing petrol during that period.
The growing availability of locally refined fuel is therefore changing the structure of Nigeria’s petroleum trade, allowing the country to retain more value from crude oil while developing an export market for refined products.
African Markets Take the Lead
African buyers accounted for N621.72 billion of Nigeria’s petrol export earnings during the first half of 2026, representing more than 60% of the total.
The development could strengthen Nigeria’s role in regional fuel supply, particularly across West and Central Africa, where many countries continue to rely on imported refined petroleum products.
For years, African fuel markets have depended on supplies from refineries and trading hubs outside the continent despite Africa’s substantial crude oil resources.
Nigeria’s expanding refining capacity provides regional buyers with a large-scale source closer to their markets and could support greater intra-African energy trade.
The development also adds an important dimension to Nigeria’s broader export diversification efforts, as the country seeks to move beyond the traditional dominance of crude oil in its export basket.
Refined Products Gain Ground Alongside Crude
Crude oil remains by far Nigeria’s largest export product. The country exported N12.91 trillion worth of crude during the second quarter, equivalent to 47.79% of total exports.
However, refined petroleum products are becoming increasingly significant.
During the quarter, kerosene-type jet fuel generated N2.94 trillion in exports, while gas oil contributed N1.32 trillion and petrol generated N546.02 billion.
The growing contribution of refined products represents a notable change from a model in which Nigeria exported crude oil and then spent billions importing fuels produced elsewhere.
The expansion is also reflected in Nigeria’s seaborne petroleum-product exports. Data from the US Energy Information Administration showed that such exports increased from approximately 46,000 barrels per day in 2023 to around 350,000 barrels per day by the second quarter of 2026, with the increase largely associated with the start-up of the Dangote refinery.
Nigeria’s expanding refining industry could therefore have implications beyond the domestic fuel market. Increased refined-product exports could strengthen regional supply chains, reduce dependence on distant suppliers and create new opportunities for petroleum trade between African economies.