Nigeria spent N1.19 trillion importing crude oil in the first quarter of 2025, making it the third most imported commodity in the country during the period, according to the National Bureau of Statistics (NBS).
This is despite Nigeria being Africa’s top oil producer, a contradiction driven by weak domestic supply to local refineries.
The NBS disclosed the figures in its Foreign Trade in Goods Statistics report for Q1 2025.
The imported crude oil—listed as “Petroleum oils and oils obtained from bituminous minerals, crude”—accounted for 7.7% of total imports. It trailed only gas oil, which cost Nigeria N1.83 trillion, and motor spirit (PMS), valued at N1.76 trillion.
The report highlights a growing reliance on imported feedstock as domestic crude allocation to refineries remains inconsistent, pushing operators to turn to more reliable and commercially viable sources abroad.
In total, Nigeria spent N4.78 trillion on the importation of petroleum products—including gas oil, PMS, and crude oil—accounting for over 30% of the country’s total import bill. Aggregate imports stood at N15.43 trillion in the first quarter, a 4.59% increase from Q1 2024, but 7.02% lower than Q4 2024.
The mismatch between abundant local production and the lack of local utilisation continues to cast doubt on Nigeria’s refining self-sufficiency ambitions and the effectiveness of its downstream oil sector reforms.