Fresh data from the National Bureau of Statistics (NBS) has revealed a persistent “import paradox” in Nigeria’s energy sector, with the nation spending ₦8.96 trillion on foreign petrol in 2025 despite a significant push for domestic refining autonomy.
The National Bureau of Statistics (NBS) released its 2025 foreign trade report on Thursday, March 19, 2026, highlighting a complex shift in Nigeria’s oil dependency. While the ₦8.96 trillion spent on “Motor spirit ordinary” (petrol) represents a massive 41.9% decline from the ₦15.42 trillion spent in 2024, the figure remains 19.3% higher than the ₦7.51 trillion recorded in 2023. Analysts suggest the year-on-year drop is largely due to the partial commencement of domestic production from the Dangote and Port Harcourt refineries. However, the fact that petrol remains one of the country’s most imported commodities underscores a stubborn “downstream gap” that local production has yet to fully bridge.
Adding to this “supply paradox” is the revelation that Nigerian refineries imported ₦5.73 trillion worth of crude oil in 2025. This means that while Nigeria is a major global producer of crude, its own refineries are frequently forced to buy international barrels—often from the U.S. or Europe—to meet technical specifications or bypass domestic supply bottlenecks. This dual reliance on imported finished fuel and imported raw crude has created a “double-ended” drain on Nigeria’s foreign exchange reserves, complicating the Central Bank’s efforts to stabilize the Naira in the face of 2026’s Middle East-driven oil price volatility.
The persistence of these imports through 2025 indicates that the “Net-Zero Import” goal remains elusive. Industry experts point to several factors: the slow ramp-up of the state-owned refineries, logistical hurdles in distributing locally refined products, and the ongoing “crude-for-fuel” swap legacy. With the global oil market currently in turmoil due to the US-Iran conflict, the cost of these remaining imports is expected to surge in the first half of 2026. This has led to renewed calls from the Manufacturing Association of Nigeria (MAN) for the government to mandate “Naira-for-Crude” sales to all local refiners to break the cycle of dollar-denominated energy costs.
Nigeria’s Petrol Import Trends (2023–2025)
| Year | Total Import Cost | % Change (YoY) | Key Context |
| 2023 | ₦7.51 Trillion | — | Fuel subsidy removed in May. |
| 2024 | ₦15.42 Trillion | +105% | Massive currency devaluation & supply shocks. |
| 2025 | ₦8.96 Trillion | -41.9% | Dangote/PH refineries start partial production. |
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