Nigeria Petrol Imports Crash by N2.18 Trillion in Q1 2026 as Local Refining Reshapes Energy Market
Nigeria’s petrol import bill has taken a dramatic nosedive, falling by a staggering N2.18 trillion in the first quarter of 2026, according to fresh data from the National Bureau of Statistics (NBS). The sharp decline signals a major turning point in the country’s fuel supply chain as local refining continues to gain ground.
The data shows that Nigeria spent just N87.40 billion on petrol imports in Q1 2026, a 96.15% drop compared to N2.27 trillion recorded in the same period of 2025. On a quarter-on-quarter basis, imports plunged even further—falling 97.53% from N3.54 trillion in Q4 2025, underscoring how rapidly the import landscape has shifted.
Much of this decline is being linked to increased domestic refining capacity, particularly the rising output from the Dangote Refinery and other local refineries. As locally refined fuel replaces imported petrol, Nigeria’s long-standing dependence on foreign refined petroleum products is beginning to ease. Interestingly, petrol—once a dominant import item—now accounts for just 0.64% of total imports, down sharply from 13.64% a year earlier.
The impact is not just limited to petrol. Total fuels and lubricants imports also dropped significantly to N2.51 trillion in Q1 2026, while processed fuel imports recorded an 87.67% year-on-year decline. However, primary fuel imports rose sharply, reflecting a restructuring rather than a total reduction in energy demand. Despite these changes, energy products still account for 18.45% of Nigeria’s total imports, showing the sector remains a key pressure point in external trade.
Meanwhile, official figures suggest Nigeria’s domestic supply story is strengthening fast. Local refineries supplied about 76.7% of total petrol demand in Q1 2026, up from 45.2% a year earlier. The Dangote Petroleum Refinery alone has been a major driver of this shift, delivering over 40 million litres of PMS daily in January 2026. Analysts say this marks one of the most significant structural shifts in Nigeria’s downstream petroleum sector in decades.
source: nairametrics