Aliko Dangote, President of the Dangote Group, says Nigeria has become a net exporter of refined petroleum products, with his refinery shipping about 1 million tonnes of Premium Motor Spirit (PMS) in less than two months.
Speaking at the Global Commodity Insights Conference on West African Refined Fuel Markets on Tuesday, July 22, Dangote said, “Today, Nigeria has actually become a net exporter of refined products.
“Before I came on the podium, I asked my people how many tonnes of PMS we have actually exported. From June beginning to date, we have exported about 1 million tonnes of PMS, within the last 50 days.”
The conference was hosted by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) in collaboration with S&P Global Insights.
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His remarks come amid lingering concerns over petrol supply across Nigeria, with many questioning the refinery’s ability to meet local demand.
Despite this, fuel marketers continue to import petrol into the country, even as Dangote’s refinery exports it abroad.
The billionaire industrialist also confirmed that the refinery has begun exporting aviation fuel to destinations including Europe and Saudi Arabia.
Speaking on broader expansion plans, Dangote added that his cement business aims to export $500 million worth of cement and clinker by 2027, noting that a similar export-focused strategy is now being applied to petroleum refining.