Nigeria’s petrol import bill surged almost elevenfold to N952.15 billion in the second quarter of 2026, highlighting the continued role of imported fuel in the domestic market despite the expansion of local refining capacity, according to reports from Nairametrics and The Cable. The latest figure represents a 989.4 percent increase from the N87.40 billion recorded in the first quarter, according to newly released National Bureau of Statistics foreign trade data. Petrol was Nigeria’s largest imported commodity during the quarter, accounting for 6.6 percent of total imports valued at N14.42 trillion.
The sharp quarterly increase comes amid growing competition between imported petrol and domestic production, particularly as the Dangote Refinery continues to expand its role in supplying the Nigerian market. The refinery recently warned that continued petrol imports could affect its supply arrangements with major oil marketers, intensifying an ongoing dispute over the place of imported products in Nigeria’s evolving downstream petroleum market.
However, the latest figures also show that Nigeria’s petrol import dependence has fallen significantly compared with a year earlier. The Q2 2026 import bill was 66.4 percent below the N2.83 trillion recorded in the same quarter of 2025, suggesting that the broader transition toward domestic refining is already reducing annual import expenditure even as imports rebounded sharply from the unusually low first quarter.
The development underscores the economic importance of accelerating domestic refining and ensuring that local production can consistently meet national demand. While the quarterly surge represents renewed pressure on Nigeria’s import bill and foreign exchange position, sustained growth in domestic refining capacity could progressively reduce exposure to international fuel markets, strengthen energy security and improve the country’s trade balance.
