Nigeria’s petrol import expenditure jumped to N952.15 billion in the second quarter of 2026, despite growing domestic refining capacity and efforts to reduce the country’s dependence on imported petroleum products.
The latest figure represents a 989.4 per cent surge from the N87.4 billion recorded in the first quarter, according to the National Bureau of Statistics’ Q2 2026 foreign trade report.
Petrol was the single largest imported commodity during the quarter, accounting for 6.6 per cent of the N14.42 trillion total import bill.
The sharp quarterly increase comes against the backdrop of rising domestic refining capacity, with the Dangote refinery playing an increasingly prominent role in the supply of petroleum products to the Nigerian market.
Other products that featured among the country’s major imports during the period included crude oil, durum wheat, used vehicles powered by diesel or semi-diesel engines, and motorcycles and cycles fitted with auxiliary motors and petrol engines above 50cc but below 250cc in completely knocked-down form.
The latest data could further fuel debate over the pace at which Nigeria’s refining capacity is replacing imported petrol.
The Dangote refinery had on August 31 threatened to restrict fuel supplies to major oil marketers over the continued importation of petrol, raising fresh concerns about competition between imported and locally refined products.
The refinery has been seeking a larger share of Nigeria’s downstream market as it expands production and distribution of refined petroleum products.
However, while the Q2 figure represents a dramatic increase from the preceding quarter, it was substantially below the amount recorded in the same period of 2025.
Nigeria spent N2.83 trillion on petrol imports in Q2 2025, meaning the latest figure represents a 66.4 per cent decline year-on-year.
The data therefore points to a mixed picture in the petroleum import market: petrol imports increased sharply between the first and second quarters of 2026 but remained considerably lower than their level a year earlier.
The figures also come amid broader efforts by the Federal Government to strengthen domestic refining and reduce Nigeria’s exposure to imported petroleum products and the foreign exchange pressures associated with them.
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