The Dangote Petroleum Refinery has threatened to export its excess petrol (PMS) stocks as rising fuel imports into Nigeria create uncertainty around domestic demand.

Sources close to the refinery told newsmen on Friday that inventory planning has become increasingly difficult as marketers continue to import petrol despite huge local refining capacity.

The refinery, which is Africa’s largest with 650,000 barrels per day capacity, said it may be forced to look outside Nigeria for buyers if local off-take does not improve.

This development comes just days after reports that the Dangote Refinery Initial Public Offering (IPO) was oversubscribed by three times, showing strong investor confidence in the $1.6 billion refinery project.

Recall that President Bola Tinubu recently commended the Dangote Group, describing it as Nigeria’s second largest employer after the Federal Government and a major driver of jobs, local production and foreign exchange conservation.

The company has also been at the centre of regulatory issues. In December 2025, the departure of former NMDPRA chief executive Farouk Ahmed came amid a high-profile dispute involving Dangote Group Chairman Aliko Dangote.

On October 30, 2026, President Tinubu nominated six executive directors for the NMDPRA, comprising three serving officials and three new nominees, to regulate the midstream and downstream sector.

Energy analysts say if Dangote Refinery starts exporting petrol while Nigeria still imports, it will raise fresh questions about Nigeria’s fuel import policy and pricing.