Nigeria’s petrol import bill dropped sharply to $10 billion in 2025 from $14.06 billion a year earlier, signaling a turning point in the country’s long-standing dependence on imported fuel. According to the latest Balance of Payments report from the Central Bank of Nigeria, the shift is primarily driven by expanding domestic refining, particularly output from the Dangote Refinery. As more fuel is processed locally, imports are easing while exports of refined products and natural gas are helping support Nigeria’s trade balance. In 2025, Dangote Refinery generated $5.85 billion in export earnings, boosting the nation’s trade balance. With refining capacity expected to expand further, Nigeria could steadily reduce its reliance on imports and strengthen its position in regional energy markets.
Nairametrics