Nigeria's petrol import bill crashes by 96% as Dangote Refinery boosts local supply
By Aboki Forex —
Nigeria's petrol import bill dropped sharply in the first quarter of 2026, falling by N87.401 billion. That is a 96.2 percent decline compared to the same period in 2025.
Data from the National Bureau of Statistics shows total petrol imports went from N2.271 trillion to just N87.401 billion. For the first time, petrol did not appear among Nigeria's top 19 traded products with the rest of the world, Africa, or West Africa.
The main driver is increased domestic production. The Dangote Petroleum Refinery has ramped up local supply of Premium Motor Spirit, cutting the need for expensive imports.
This is good news for the Central Bank of Nigeria. Lower fuel imports mean less pressure on foreign exchange demand. That helps stabilise the naira.
China remained Nigeria's top import source, followed by the United States, India, Germany, and the United Arab Emirates. Top imported items included crude petroleum oils, gas oil, and durum wheat.