NewStats: 3,265,437 , 8,186,744 topics. Date: Saturday, 14 June 2025 at 11:35 PM 3q3u4a

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.

Import trend reverses after years of steady growth
A five-year review of first-quarter petrol import figures shows that Nigeria had been on a steady upward trajectory until 2024.

The country imported N732 billion worth of petrol in Q1 2020, rising to N1.29 trillion in Q1 2021, and doubling again to N2.69 trillion in Q1 2022.

There was a moderate decline to N2.03 trillion in Q1 2023 before the value surged to an all-time high of N3.81 trillion in Q1 2024.

With the Q1 2025 import bill dropping to N1.76 trillion, Nigeria’s petrol import value has now returned to pre-2022 levels, suggesting that domestic refining is beginning to displace foreign supply in a meaningful way.

The NBS data signals a structural shift in Nigeria’s petroleum trade, following decades of dependence on imported refined products due to the collapse of state-owned refineries.

Petrol s for 44.51% of Nigeria’s imports from the ECOWAS region

The report further shows that petrol was Nigeria’s most imported product from ECOWAS countries in the first quarter of 2025, ing for N89.18 billion or 44.51% of total imports from the subregion.

The figure highlights 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.

Within the broader West African region, petrol imports made up 41.86% of Nigeria’s trade inflow, while it contributed 11.63% of total imports from the entire African continent.

This dominance by petrol shows the lingering supply gaps in Nigeria’s downstream petroleum sector.

While local refining is gaining momentum, it has yet to fully replace the need for imported refined products.

Other major imports from the ECOWAS region during the period included gas oil at N23.15 billion (11.55%) and petroleum bitumen at N20.58 billion (10.27%), indicating that petroleum-based products continue to shape Nigeria’s import profile 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.

What you should know

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.

The refinery, which is currently producing about 85 per cent of its 650,000 barrels per day capacity, has helped to reduce the volume of imported refined petrol substantially.

This has introduced greater competition in the downstream market, with retail prices in Lagos dropping to as low as N860 per litre in early 2025.

However, the refinery’s operations have faced early challenges. In March 2025, Dangote Industries halted local currency sales due to foreign exchange constraints, as it relies on dollar-denominated crude inputs but receives naira in return for local sales.

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.

https://nairametrics.com/2025/06/12/nigerias-petrol-import-bill-crashes-by-54-in-q1-2025-as-dangote-boosts-local-supply/

But why are many Nigerians unhappy with good news?

It should even be zero because I don't understand why NNPC OVH is still importing that crap they call Petro

Until the other refineries begin operations, do not rejoice yet as petrol will go for two thousand Naira per liter under Dangote monopoly.

One refinery crashed import by 54% yet 4 other refineries are being TAM forever but no one is in jail.

Dreal1247:
Until the other refineries begin operations, do not rejoice yet as petrol will go for two thousand Naira per liter under Dangote monopoly.

is Dangote the one stopping the other refineries from running? You contradicted yourself in a bid to demonise Dangote.

Commentor:
But why are many Nigerians unhappy with good news?

they want good news only if the fraudulent candidates they is the one doing it.

That's why you see them celebrate jb logo in abia but condemn electric trains in lagos.

Please don't make racist and tribalistic comments on this section

We are getting there. Hopefully we drive competitive efforts to this very industry.

I thought Dangote's Refinery was a fraud, and your brother who works as a gatekeeper told you it would never function?

Parydelegate:
Please don't make racist and tribalistic comments on this section

When u go understand d difference between racism and tribalism?

Nice one. Sometimes all we want is good news. We don't hate Nigeria, or any leader doing well. We only hate mediocrity, criminality and frivolous projects and spending

Fuel scarcity has also dissappeared, not because there is fuel surplus but because people don't have money to buy much.... Everybody Don dey live for him level now

dangote took a step to corner the market soon he will have a monopoly on price, imagine if other investors corner the market on other commodities we import from the west.

SarkinYarki:
It should even be zero because I don't understand why NNPC OVH is still importing that crap they call Petro

if they don't, Dangote will monopolize the market

Commentor:
But why are many Nigerians unhappy with good news?

because the good news is from their sworn enemy. They don't wish good things to happen during this Tinubu tenure just to continue to blame those that votes for Tinubu. Our own wish for anyone that doesn't pray for good things to happen to this nation may good things ceased to happen to them or come their way.

Judolisco:
Fuel scarcity has also dissappeared, not because there is fuel surplus but because people don't have money to buy much.... Everybody Don dey live for him level now

that is not true, scarcity has reduced because the market now have surplus of PMS.

There was a time in Nigeria that ships will not have clearance to berth on shore for weeks or months, this will make fuel scarce, but with Dangote, it is no longer the case.
The reason for scarcity was not because people are buying much, but because the products sometimes are not available due to some technical or marine contraints

The same Dangote Refinery that someone claimed in this same Nairaland that will only become operational in 2026?

richmond500:
that is not true, scarcity has reduced because the market now have surplus of PMS.

There was a time in Nigeria that ships will not have clearance to berth on shore for weeks or months, this will make fuel scarce, but with Dangote, it is no longer the case

Ok, u want us to pretend that people are not buying the same amount of fuel as before? If you buy 25 litres before at 5000 naira, the 5000 naira will now get you 5 litres, how many people walk into d petrol station to buy 25 litres again? ..

Now that demands have dropped the stock will last more, so it's also a factor....

Thank you Jagaban.

Thank you Dangote.

My fellow citizens, let's be happy and applaud when it's time to do so and not needlessly criticize everything, lest you be tagged enemy of progress...

This is good news...

More work needs to be done to make petrol import bearest to the minimum.

Naija will be Greater.

Dreal1247:
Until the other refineries begin operations, do not rejoice yet as petrol will go for two thousand Naira per liter under Dangote monopoly.

It's like you guys don't realize how private companies work.

When you do, you will understand a lot of things. As many private business people say...government gives them no money(Oyedepo , who owns a private university, once said that the only help he got from government was ease of approval of land, otherwise, nothing. NO money, nothing.)

richmond500:
that is not true, scarcity has reduced because the market now have surplus of PMS.

There was a time in Nigeria that ships will not have clearance to berth on shore for weeks or months, this will make fuel scarce, but with Dangote, it is no longer the case

Fuel got scarce because government, from 1990,(and in the seventies until Kaduna came on stream) started having trobule paying subsidy claims on time, so the market would refuse to sell, resulting in scarcity until government found some money for them...either from the budget or from removing subsides partially..which enabled more money to flow in.

That's how it was done until the resulting debt was eating 90% of our revenue.

Commentor:
I thought Dangote's Refinery was a fraud, and your brother who works as a gatekeeper told you it would never function?

Those were the days.

It was kind of ridiculous that someone that took loans from banks like BNP Paribas among others to build that thing will suddenly NOT DELIVER. Abi the banks no go begin show am shege at that point?

Right.

bedic:
Many people won't like this good news. Because Dangote will take good out of their mouth

Who are the people that won't like this news?

When will said we are still importing they called us names. The truth is how many people fills their tanks now? Travel by road towards and see how empty roads are, sometimes less than 100 vehicles will be seen. People don't have money to fuel. Reason for low import, not any REFINERY.

To think some people actually denied the existence of this refinery speaks volume to how deliberate falsehood has become a way of life for some people

SarkinYarki:
It should even be zero because I don't understand why NNPC OVH is still importing that crap they call Petro

NNPC was destroyed by years of subsidy. Had there been no subsidy from 1992...when we were warned, NNPC would have had four up to date working refineries, and probably would have added at least two more over the years, because they have the profit to do so.

Subsidy means that scams such as the subsidy scam and the TAM scam (and also actual delays in TAM) were made possible. Because, no profit, free government money...and the fact that subsidy means that whether you do your best or not, money comes in (try that with a private refinery...you would be sacked before the owner has his baby ruined by you)....meant the refineries are in the state they are today.

At best, I won't be putting hope in NNPC. Right now, they are fixing themselves from the damage over 4 decades of subsidy did to them. For now, its the private sector that will take the lead in domestic refining.

Na so e supposed to be. God bless Dangote and all Nigerians.

nairalanda1:


NNPC was destroyed by years of subsidy. Had there been no subsidy from 1992...when we were warned, NNPC would have had four up to date working refineries, and probably would have added at least two more over the years, because they have the profit to do so.

Subsidy means that scams such as the subsidy scam and the TAM scam (and also actual delays in TAM) were made possible. Because, no profit, free government money...and the fact that subsidy means that whether you do your best or not, money comes in (try that with a private refinery...you would be sacked before the owner has his baby ruined by you)....meant the refineries are in the state they are today.

At best, I won't be putting hope in NNPC. Right now, they are fixing themselves from the damage over 4 decades of subsidy did to them. For now, its the private sector that will take the lead in domestic refining.

Just two years ago 2.5 bn dollars was approved to fix two refineries and the money was stolen and we were even lied to that PH refinery was working