Nigeria’s dependence on imported petrol saw a notable decline in the first quarter of 2025, with the country’s petrol import expenditure plummeting by 54 percent compared to the previous year, as reported by the National Bureau of Statistics (NBS).
This significant reduction is attributed to the enhanced domestic supply from the Dangote Petroleum Refinery, which has commenced operations at nearly full capacity, thereby lessening Nigeria’s reliance on foreign fuel imports.
The recent report from the NBS indicates that Nigeria’s expenditure on petrol imports in Q1 2025 was $1.2 billion, a decrease from $2.6 billion during the same timeframe last year.
This represents the lowest quarterly import expenditure since 2020 and highlights the increasing influence of the Dangote Refinery, which has been producing at full scale since late 2024, with a capacity of 650,000 barrels per day.
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Industry experts attribute this significant reduction to the refinery’s capability to satisfy a considerable portion of Nigeria’s petrol requirements, which is approximately 50 million litres daily.
Prior to the commencement of operations at the Dangote Refinery, Nigeria relied on imports for nearly 90 percent of its petrol, which made the economy vulnerable to fluctuations in foreign exchange rates and disruptions in supply chains.
Data from the NBS revealed that Nigeria’s spending on petrol imports in the first quarter of 2025 amounted to N1.76 trillion, reflecting a 46.68 percent decline from the previous quarter.
A year-on-year comparison indicates that the importation of petrol from other nations decreased by 33.14 percent, from N2.63 trillion in the first quarter of 2024 to N1.76 trillion in Q1 2025.
