CBN oil export checks receive a major boost as eight inspection agents and two monitoring firms get new terminal assignments across Nigeria.

The Central Bank of Nigeria (CBN), through its Trade and Exchange Department in Abuja, has appointed eight pre-shipment inspection agents and two monitoring and evaluation companies to supervise crude oil and gas exports across Nigeria, announcing the revised terminal allocations in a circular dated October 29, 2026, as part of efforts to strengthen export monitoring, improve transparency and protect government revenue.

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The new arrangements, implemented under the Nigerian Export Supervision Scheme (NESS), took effect from October 2, 2026, according to the circular signed by Aderinola Shonekan, Director of the CBN’s Trade and Exchange Department.

The directive, with reference number TED/FEM/FPC/PUB/001/005, was addressed to authorised dealer banks, the Nigeria Customs Service, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), the Nigerian National Petroleum Company Limited (NNPC), the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), terminal operators and oil and gas companies.

The revised framework distributes major crude oil and gas export terminals among eight inspection companies, while assigning two separate firms to monitor their activities.

Under the allocation, Dakee Engineering and Construction Limited will handle the Nigeria LNG terminal, Escravos Gas, Bonny River Terminal and Escravos Gas-to-Liquids (EGTL).

Trexem Energy Services Limited has been assigned the Egina, Qua Iboe and Tulja terminals, while Geoscape Limited will oversee Escravos, ERHA, Odudu and FSO Cawthorne.

The CBN allocated Bonga, Brass, Usan and Eagle terminals to 617 Limited.

Robinson International Energy Limited will cover Ugo-Cha, Pennington, Aje, Ima, Oyo and Nembe, while Trobell International Nigeria Limited has been assigned Forcados, Bonny and Okwori.

Integrated Shipping Services Nigeria Limited will oversee Akpo, Antan, Okoro, Anyala-Madu and Ebok.

Kephren Business Limited has received responsibility for Ukpokiti, Utapate, Yoho, Abo, Agbami, Ajapa, Okono and Okwok, alongside additional marginal production streams designated by the NUPRC.

The supervisory arrangement also introduces a separate monitoring structure to assess the activities of the eight inspection agents.

Q and Q Control Services Limited will monitor 617 Limited, Trexem Energy Services Limited, Geoscape Limited and Kephren Business Limited.

Arlington Securitas Nigeria Limited will supervise Dakee Engineering and Construction Limited, Trobell International Nigeria Limited, Robinson International Energy Limited and Integrated Shipping Services Nigeria Limited.

The division of responsibilities creates an additional layer of oversight within the export inspection system, with the monitoring companies expected to assess the performance and compliance of their assigned inspection agents.

The purpose of the arrangement is particularly important for Nigeria’s petroleum industry, where the accurate measurement and documentation of exported crude oil and gas directly affect the country’s revenue calculations and foreign exchange earnings.

Pre-shipment inspection involves examining export cargoes before they leave Nigerian terminals, including verification of their quantity, quality and relevant documentation.

The process helps establish whether the volume and value declared by exporters correspond with the actual cargoes being shipped.

Under the Pre-shipment Inspection of Exports Act No. 10 of 1996, inspection agents are authorised to examine goods intended for export and issue the necessary inspection certification.

The legislation also places the general administration of the scheme under the CBN, providing the legal foundation for the bank’s role in coordinating export inspection arrangements.

The importance of the process extends beyond administrative compliance. Inaccurate cargo measurements, discrepancies in export documentation and weaknesses in reporting can complicate the reconciliation of petroleum sales and the identification of revenue due to the government.

For a country that remains heavily dependent on petroleum exports for foreign exchange, effective monitoring is therefore an important part of public revenue administration.

The latest appointments follow several adjustments to Nigeria’s export supervision framework in recent years.

In May 2024, the CBN appointed 11 companies comprising nine pre-shipment inspection agents and two monitoring and evaluation firms under the NESS framework.

The government subsequently reviewed the distribution of oil export terminals in March 2025, adjusting assignments among inspection companies.

Further changes followed in June 2026, when Swede Control Intertek Limited received additional responsibilities covering the Cawthorne and Okwok crude oil terminals.

In July 2026, the CBN also appointed Candid Oil Services Limited as a pre-shipment inspection agent for the Taurus Oil and Gas Depot.

The latest circular represents another review of the supervisory structure, with eight inspection agents now listed alongside two monitoring companies under the revised crude oil and gas export arrangements.

However, the CBN’s circular contains an important timing detail. Although the document was dated October 29, it expressly states that the appointments and terminal allocations became effective on October 2, 2026. This means the effective date precedes the publication date by 27 days.

The announcement also comes at a time when petroleum exports continue to play a significant role in Nigeria’s improving external trade position.

According to figures from the CBN’s second-quarter 2026 economic report, Nigeria’s merchandise exports increased to approximately $20.1bn in the quarter, while imports stood at about $10bn, producing a merchandise trade surplus of approximately $10.1bn.

Oil and gas exports accounted for 84.5 per cent of total merchandise export earnings during the period, highlighting the sector’s continued importance to the country’s external accounts.

Oil and gas export earnings increased by approximately 30 per cent quarter-on-quarter to nearly $17bn, supported by improved crude production and higher international oil prices.

Nigeria’s average Bonny Light crude price also rose to $108.40 per barrel during the second quarter, while crude production increased to approximately 1.72 million barrels per day from 1.55 million barrels per day in the preceding quarter.

The figures underscore the financial importance of ensuring that petroleum cargoes are properly measured, documented and accounted for before export.

Nigeria also recorded gas export earnings of approximately $6.22bn in the first half of 2026, compared with $5.97bn during the corresponding period of 2025, according to analysis of the CBN’s balance of payments data.

The growth in gas receipts further reinforces the importance of monitoring arrangements that cover both crude oil and natural gas exports.

Nevertheless, appointing inspection companies does not automatically guarantee that revenue leakages will be eliminated. The effectiveness of the revised framework will depend on the independence of the agents, the accuracy of their inspection reports, transparency in cargo measurement and effective coordination with petroleum regulators and other relevant agencies.

The CBN’s decision therefore places renewed emphasis on the institutions responsible for verifying Nigeria’s petroleum exports at a time when the country is seeking to strengthen its foreign exchange earnings and improve public revenue collection.

For the new arrangement to deliver its intended benefits, the inspection companies and their monitoring counterparts will need to demonstrate consistent compliance, reliable reporting and accountability across the terminals under their supervision.

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Ultimately, the effectiveness of the revised NESS structure will be measured not simply by the number of companies appointed, but by how accurately Nigeria can account for the oil and gas cargoes leaving its shores and the proceeds accruing from those exports.