Nigeria’s reliance on imported petrol dropped significantly in the first quarter of 2025, with the country’s petrol import bill crashing by 54 percent year-on-year, according to data from the National Bureau of Statistics (NBS).
The sharp decline follows the increased domestic supply from the Dangote Petroleum Refinery, which has begun operating at near-full capacity, reducing Nigeria’s dependence on foreign fuel imports.
Dangote Refinery Drives Import Reduction
The latest NBS report shows that Nigeria spent $1.2 billion on petrol imports in Q1 2025, down from $2.6 billion in the same period last year.
This marks the lowest quarterly import bill since 2020 and reflects the growing impact of the 650,000-barrel-per-day Dangote Refinery, which started full-scale production in late 2024.
Industry analysts attribute the sharp drop to the refinery’s ability to meet a significant portion of Nigeria’s petrol demand, which stands at around 50 million litres per day.
Before the Dangote Refinery came online, Nigeria imported nearly 90 percent of its petrol, exposing the economy to foreign exchange volatility and supply chain disruptions.
Data from the country’s statistics bureau (NBS) revealed that Nigeria spent N1.76 trillion on petrol imports in the first quarter of 2025, indicating a 46.68 percent decrease from the preceding quarter.
Year-on-year analysis showed that bringing in the product from other countries dropped by 33.14 percent from N2.63 trillion in the first quarter of 2024 to N1.76 trillion in Q1 2025
Energy analysts had anticipated that the recent start of operations at the Dangote Refinery and the emergence of multiple modular refineries would lessen the nation’s dependency on imported petrol.
“They are importing a lot less, and traders are making up the shortfall from offshore Lome” one trader told Platts, referring to the nearby transshipment hub off the coast of Togo where traders blend product.
In February, Dangote refinery stated that it would covering as much as 60 percent of the Nigeria’s domestic petrol demand as it has crept towards its full capacity, according to company estimates.
Speaking to Platts in late January, a Dangote Group executive said that the refinery was producing over 30 million litres per day of petrol, reporting that the site had surpassed 85 percent utilisation.
Equating to roughly 200,000 barrels per day (bpd), that output would cover the bulk of roughly 350,000 bpd petrol demand in Nigeria estimated by S&P Global Commodity Insights analysts.
Petrol imports plunge by 30 million litres
(Business Day)
