Nigeria has spent a total of N4 trillion on fuel imports in just the first six months of 2025.
According to the National Bureau of Statistics (NBS) figures, the country spent N2.3 trillion on fuel imports in Q2 2025, following N1.76 trillion recorded in Q1. This brings the half-year total to N4 trillion.
This is $2.58 billion at N1550/$1 exchange rate.
For perspective, in the whole of 2024, Nigeria reported N15.4 trillion in fuel import bills, a figure that strained foreign reserves and contributed significantly to naira volatility.
According to the NBS data, Nigeria imported N208.76 billion worth of petrol from the ECOWAS region in Q2 2025.
The figure shows the continued importance of regional trade routes in meeting domestic fuel demand, despite Nigeria’s ongoing efforts to boost local refining through facilities such as the Dangote Refinery.
This ranking shows how energy products continue to dominate Nigeria’s import basket, reinforcing concerns about the country’s persistent fuel import dependence.
Several experts have weighed in on the development.
Speaking to Naijaonpoint, CEO of Centre for Promotion of Private Enterprises (CPPC) Dr. Muda Yusuf said, “The data speaks for itself. It shows that we are still importing.
Our commitment to complete domestication of our refining capacity and to complete import substitution is not yet total. It is an indication that there are still forces within the economy that are still bent on importation [of fuel]. Not everyone is happy with the fact that we want to produce locally.
“What I think the government should do is come up with appropriate fiscal policy to curb importation of fuel.
“Now that we have domestic capacity coming Dangote Refinery or any other refinery, there is … we need to promote backward integration,” he said.
Another economic expert, Bola Akani said, “Until Nigeria achieves consistent local refining, fuel imports will remain a heavy burden on the economy. The N4 trillion spent in just two quarters is proof that our downstream reforms are moving slower than expected.”
If the current trend continues, analysts warn that 2025’s total import bill could rival or surpass the N15.4 trillion recorded in 2024, unless local refining capacity scales up significantly in the coming months.