Nigeria has earned $472 million (N660 billion) from export of 332 750 tonnes of Automotive Gas Oil and Premium Motor Spirit (PMS) in the last one month over global fuel shortage caused by the blockade of Strait of Hormuz.
The petroleum products were shipped out in April in nine vessels, according to the Nigerian Ports Authority (NPA)’s shipping data. As of April 2026, international Automotive Gas Oil (Diesel) prices revolved around $1,491 per tonne, while petrol price was $1,200.
The shipping data explained that 86,250 tonnes of PMS worth ($104 million) N145 billion were ferried by three vessels, while 246,500 tonnes of AGO valued at $367.5 million (N515 billion) were lifted at Dangote Petroleum Refinery (DPR)’s jetty in the period. According to the shipping data, ST Walga loaded 32,000 tonnes of PMS; Pinarello, 28,000 tonnes and St. Lady Meenah, 26,250 tonnes.
It noted that MT Ilhaam sailed with 25,000 tonnes; Leste, 25,000 tonnes; Atlantic Sunflower, 40,000 tonnes; Emma Grace, 43,500 tonnes; Uzava, 47,000 tonnes and Tom Grace, 66,000 tonnes. In March, Dangote refinery explained that 456,000 tonnes were ferried out to the regional energy market with the successful sales of 12 cargoes to Cote d’Ivoire, Cameroon, Tanzania, Ghana, and Togo.
It was learnt the petroleum products were sold on a Free on Board (FoB) basis to the end buyers for deliveries to the countries, adding that its capability had exceeded Nigeria’s domestic fuel demands. According to Dangote Refinery, “it also demonstrates the refinery’s growing role in supplying highquality Euro 5 gasoline and diesel to West Africa, a region long underserved and historically regarded as a dumping ground for lowerquality fuels, and other regions which have become destinations of exports.
“By supplying neighbouring and other economies, the Dangote Refinery is expected to contribute to enhancing energy security in West, East, and Central Africa, reducing logistics and supply chain delays associated with long-distance fuel imports, lowering cost pressures on regional fuel markets through proximity sourcing, and as well as building stronger trade relations between Nigeria and key African economies.
Recall that about 153 million litres (153,000 tonnes) of Premium Motor Spirit (PMS) worth N180 billion were ferried from Nigerian jetties to Togo and other West African countries in February. The conflict in the Middle East has triggered global oil spikes above $100/barrel, causing Dangote Refinery to raise prices, leading to severe economic pressure and increased transport costs across the region.
