Oando Plc has announced that it has implemented a “strategic pause” on petrol (PMS) imports, citing the rapid increase in local refining capacity driven by the Dangote Refinery.

Wale Tinubu, Group Chief Executive of Oando Plc, made this known while commenting on the company’s recently released 2025 financial results, covering both its half-year (H1) and nine-month performance.

According to Tinubu, Oando’s trading segment faced headwinds that impacted revenue and topline growth, primarily due to a decline in PMS imports following increased domestic production.

“Our trading segment faced challenges which exerted pressure on revenue and the group’s topline as a result of declining PMS imports into the country due to rising local refining capacity from the Dangote Refinery — a positive development that enhances Nigeria’s energy security and self-sufficiency,” Tinubu stated.

The Oando chief described the move as a strategic adjustment rather than a setback, noting that the company has diversified its operations in response to changing market dynamics.

“In response, we diversified our crude offtake sources, optimized trade flows, and expanded into LNG and metals,” he said. “These initiatives are already yielding results and will support stronger performance in the second half of 2025.”

Tinubu further acknowledged the transformative impact of the Dangote Refinery on Nigeria’s energy landscape, describing it as a “well-deserved and expected success.”

“Across our trading business, refined products volumes remained under pressure, largely due to the well-deserved and expected success of the Dangote Refinery in meeting Nigeria’s import needs,” he added.

Oando’s latest report underscores the shifting dynamics of Nigeria’s downstream oil sector, as the country edges closer to full self-sufficiency in refined petroleum products.