Nigeria’s petrol import bill plunged by 54% in Q1 2025, dropping from $2.49 billion to $1.15 billion year-on-year, thanks largely to increased output from the Dangote Refinery. This marks a significant reversal of the country’s long-standing reliance on imported fuel, bringing import values back to pre-2022 levels. Despite this progress, petrol still dominates Nigeria’s import profile, with significant volumes coming from other ECOWAS countries, which accounted for nearly 45% of regional imports. While the Dangote facility is operating below full capacity, it’s already covering a major share of domestic demand. However, local refining, by both private and government-owned refineries, is yet to fulfill the demand for petrol. Nevertheless, the Dangote refinery’s impact is undeniable, even as forex challenges briefly disrupted local currency sales.
Nairametrics
