CBN reshuffles oil export terminals, appoints eight inspection firms

The Central Bank of Nigeria (CBN) has reassigned the country’s crude oil and gas export terminals to eight inspection companies and appointed two firms to monitor their activities in a fresh move to strengthen oversight of petroleum exports and safeguard government revenue.

The new arrangement, which took effect on October 2, 2026, is being implemented under the Nigerian Export Supervision Scheme (NESS).

Details were contained in a circular dated October 29, 2026, with reference number TED/FEM/FPC/PUB/001/005, signed by Aderinola Shonekan, Director of the CBN’s Trade and Exchange Department.

The circular, issued in accordance with the Pre-shipment Inspection of Imports Act No. 10 of 1996, was addressed to authorised dealer banks, the Nigeria Customs Service, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), the Nigerian National Petroleum Company Limited (NNPC), petroleum regulators, terminal operators and other industry stakeholders.

Under the revised allocation, Dakee Engineering and Construction Ltd will cover LNG, Escravos (Gas), Bonny River Terminal (BRT) and EGTL, while Trexem Energy Services Ltd has been assigned Egina, Qua Iboe and Tulja terminals.

Geoscape Ltd will oversee Escravos, ERHA, Odudu and FSO Cawthorne, while 617 Ltd will handle Bonga, Brass, Usan and Eagle.

Robinson International Energy Ltd will cover Ugo-Cha, Penington, Aje, Ima, Oyo and Nembe, while Trobell International Nigeria Ltd is responsible for Forcados, Bonny and Okwori.

Integrated Shipping Services Nigeria Ltd has been assigned Akpo, Antan, Okoro, Anyala-Madu and Ebok, while Kephren Business Ltd will cover Ukpokiti, Utapate, Yoho, Abo, Agbami, Ajapa, Okono, Okwok and additional marginal streams designated by the NUPRC.

The CBN also appointed Q&Q Control Services Ltd and Arlington Securitas Nigeria Ltd as monitoring and evaluation companies.

Q&Q Control Services will supervise the activities of 617 Ltd, Trexem Energy Services, Geoscape and Kephren Business, while Arlington Securitas will monitor Dakee Engineering, Trobell International, Robinson International Energy and Integrated Shipping Services.

The arrangement establishes a two-tier supervisory structure, with the eight inspection agents responsible for examining export cargoes and the two monitoring companies overseeing their performance and compliance.

Pre-shipment inspection involves checking and documenting petroleum cargoes before they leave Nigerian export terminals. The process helps establish the quantity and quality of crude oil and gas exported, providing information for verifying export declarations and associated transactions.

Accurate cargo measurements and documentation are critical to government revenue because the volume of petroleum exported determines the proceeds due to the country.

Discrepancies between declared and actual export volumes, as well as inaccurate documentation, could undermine revenue collection and complicate the reconciliation of export proceeds.

The latest appointments follow previous adjustments to the NESS framework. In May 2024, the CBN appointed 11 companies, comprising nine pre-shipment inspection agents and two monitoring and evaluation firms.

Dakee Engineering and Construction and Arlington Securitas were among the companies appointed at the time.

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The allocation of export terminals was reviewed again in March 2025, while Candid Oil Services Ltd was appointed in July 2026 as an inspection agent for the Taurus Oil and Gas Depot.

The latest circular represents another revision of the supervisory structure, particularly the distribution of export terminals among inspection companies.

The move comes as petroleum exports remain a major source of Nigeria’s foreign exchange earnings.

According to CBN data, Nigeria recorded a merchandise trade surplus of $16.1bn in the first half of 2026, driven by stronger crude oil earnings, increased exports of refined petroleum products and declining imports.

Oil and gas exports rose by 30 per cent quarter-on-quarter to almost $17bn, accounting for 84.5 per cent of total merchandise exports, reflecting improved crude production and higher international oil prices.

With petroleum exports accounting for a significant share of the country’s foreign exchange earnings, the CBN’s revised inspection and monitoring arrangements are expected to strengthen the verification of cargoes and export documentation.