– N4.879trn received from gas exports in the second quarter of 2025

Michael Eboh

Dublin, Ireland — Nigeria generated N371.536 billion from the export of Premium Motor Spirit (PMS), commonly referred to as gasoline, during the second quarter of 2025, as reported by the National Bureau of Statistics (NBS).

Specifically, the NBS, in its Second Quarter 2025 Report on Foreign Trade in Goods, revealed that fuel exports made up 1.63 per cent of Nigeria's total exports of N22.75 trillion recorded during the quarter in question.

To date, Dangote Petroleum Refinery and Petrochemicals Limited is the sole exporter of PMS, also known as fuel, from Nigeria, after finishing its 650 million barrels per day crude oil refinery, located in the Lekki Free Trade Zone, Lagos, Nigeria.

Additionally, the NBS stated that out of the overall PMS exports in the second quarter of 2025, which totaled N85.833 billion, accounting for 23.1 percent of all PMS exports, was sent to nations in the West African sub-region, with the remaining portion exported beyond the continent.

In contrast, the NBS revealed that the nation spent N2.376 trillion on importing Premium Motor Spirit (PMS) during the period being reviewed, marking an increase of 34.92 per cent from the N1.761 trillion spent on the same product in the first quarter of 2024.

Nevertheless, the NBS pointed out that the expenditure on fuel imports during the second quarter of 2025 decreased by 26.26% compared to the N3.222 trillion spent on fuel imports in the same period in 2024.

Furthermore, the national statistics office stated that the nation generated N4.879 trillion through the export of natural gas and other gas-related products during the second quarter of 2025. This marks an increase of 25.78 per cent compared to the N3.879 trillion earned from similar exports in the first quarter of 2025.

Providing a detailed overview of the products, the NBS mentioned that the nation generated N1.991 trillion from the export of 'other petroleum gases', making up 8.75 per cent of overall exports during the period in question; meanwhile, natural gas exports and Liquefied Natural Gas exports brought in N1.933 trillion and N954.903 billion respectively, representing 8.5 per cent and 4.2 per cent of the total exports for that period.

By comparison, in the first quarter of 2025, the nation generated N1.933 trillion from natural gas exports; N1.781 trillion from 'other petroleum gases'; and N165.817 billion from the export of Liquefied Petroleum Gas (LPG); accounting for 9.38 per cent, 8.65 per cent, and 0.80 per cent respectively of overall exports during the first quarter of 2025.

Additionally, the NBS reported that the nation generated N913.507 billion from the export of Aviation Turbine Kerosene (ATK), commonly referred to as jet fuel, increasing by 189.8 per cent compared to the N315.242 billion noted in the first quarter of 2025.

On average, the statistics agency stated that Nigeria's total goods trade reached N38.038 trillion in the second quarter of 2025, increasing by 20.05 per cent from N31.684 trillion noted in the same period of 2024; additionally, it increased by 5.59 per cent compared to N36.025 trillion recorded in the previous quarter.

It noted that exports made up 59.81 per cent of overall trade, valued at N22.751 trillion, reflecting a rise of 28.43 per cent from the N17.714 trillion reported in the same quarter of 2024; and also increased by 10.45 per cent when compared to the N20.598 trillion recorded in the first quarter of 2025.

On the other hand, the NBS mentioned that "imports made up 40.19 per cent of overall trade in the second quarter of 2025, valued at N15.287 trillion, which is a 9.43 per cent rise compared to the N13.969 trillion noted in the second quarter of 2024, and a 0.90 per cent drop from the N15.426 trillion recorded in the first quarter of 2025."

The trade balance for the second quarter of 2025 stayed positive at N7.464 trillion, showing a rise of 44.31 per cent from the figure in the previous quarter.