Nigeria’s Fuel Import Bill Hits N1.28 Trillion in Q3 2025 Amid Rising Domestic Refining Hopes
Nigeria spent a staggering N1.28 trillion on fuel imports in the third quarter of 2025, according to data released by the National Bureau of Statistics (NBS) on Thursday. While this marks a decline from the N2.3 trillion recorded in Q2, the figure underscores the country’s continued reliance on imported petroleum products, despite government efforts to boost local refining capacity.
The persistent import dependence has been driven by limited domestic refining output, supply shortfalls, and elevated global oil prices. Over the past five years, Nigeria’s fuel import bill has seen dramatic increases—from N2.01 trillion in 2020 to a record N15.4 trillion in 2024—placing enormous pressure on foreign exchange reserves and contributing to naira volatility.
Analysts remain cautiously optimistic about future trends, pointing to recent developments in local refining. In October, Dangote Refinery announced plans to expand its production capacity from 650,000 barrels per day to 1.4 million barrels per day. Once completed, it will become the largest refinery in the world, surpassing India’s Jamnagar Refinery, and could significantly reduce Nigeria’s reliance on imported fuel.
The Federal Government has expressed strong support for Dangote Refinery’s expansion, calling it a “game-changer” for Nigeria and the wider West African region. Experts suggest that the project could not only meet domestic fuel demand but also position Nigeria as a major exporter of refined petroleum products to other African and international markets.
Recent consumption patterns also indicate a slight easing of national fuel demand. Federal Government data shows that daily petrol consumption dipped to an average of 52.9 million litres in November 2025, even as crude oil production edged up marginally to 1.436 million barrels per day, according to OPEC. While imports remain high, these developments signal a potential shift toward greater energy self-sufficiency in the near future.
source: Nairametrics