Nigeria’s petrol import bill fell sharply in the first quarter of 2025, dropping to N1.76 trillion from N3.81 trillion recorded in the corresponding period of 2024.
This represents a 54% year-on-year decline, according to the latest foreign trade statistics report from the National Bureau of Statistics (NBS).
The drop also marks a 47% reduction from Q4 2024, when the country spent N3.3 trillion on petrol imports.
The decline is largely attributed to increased domestic supply from the Dangote Refinery, which has continued to scale up operations.
The report further shows that petrol was Nigeria’s most imported product from ECOWAS countries in the first quarter of 2025, accounting for N89.18 billion or 44.51% of total imports from the subregion.
Petrol was also listed among the top five most imported commodities nationwide in Q1 2025, alongside gas oil, crude petroleum oils, cane sugar for refineries, and durum wheat.
The decline in petrol imports aligns with the growing influence of the Dangote Petroleum Refinery. With an installed capacity of 650,000 barrels per day, the refinery is already supplying a significant portion of Nigeria’s petrol demand, although it is still operating below full capacity.
However, the government has intervened to resolve the issues around the naira-for-crude deal. The facility continues to play a key role in narrowing the import gap.