Oando Plc has announced the suspension of petrol imports into Nigeria, citing the disruptive impact of domestic fuel supply from the Dangote Refinery. The company revealed this in its Half-Year and Nine-Month 2025 financial reports, noting a 20% drop in trading revenue due to declining Premium Motor Spirit (PMS) imports.
Key Highlights:
- Dangote Refinery’s output is reshaping Nigeria’s downstream oil sector, reducing reliance on imported fuel.
- Oando’s trading segment faced headwinds, leading to a 42% drop in gross profit and a strategic pause in refined product imports.
- Despite the downturn in trading, Oando reported a 164% increase in Profit After Tax, reflecting gains from other business segments.
- The company is now diversifying its operations to adapt to the evolving energy landscape.
This shift signals a broader transformation in Nigeria’s energy sector, with the Dangote Refinery playing a pivotal role in enhancing energy security and self-sufficiency.
