Crude oil imports in Nigeria emerged in H1 2025 (the first since 2017), capturing a 10.2% share of the total crude oil trade

  • Crude oil imports into Nigeria in H1 2025 marked the first occurrence since 2017.
  • Crude oil imports accounted for 10.2% of total crude oil trade.
  • From 2017 to 2024, exports made up 100% of crude oil trade annually.
  • Total crude oil trade peaked at ₦55.3 trillion in 2024.
  • The emergence of crude oil imports can be linked to domestic refinery operations, especially the Dangote Refinery.

Nigeria’s crude oil trade witnessed a remarkable shift in the first half of 2025 as the country recorded crude oil imports for the first time since 2017. Imports accounted for 10.2% of the total crude oil trade, marking a significant departure from the previous eight years, where exports consistently made up 100% of Nigeria’s crude oil trade.

Nigeria has long relied almost entirely on crude oil exports while importing refined petroleum products due to limited refining capacity. The emergence of crude oil imports in 2025 can be traced to the new entrant of the Dangote Refinery, which is sourcing crude locally and internationally to optimise operations.

Source:

National Bureau of Statistics

Period:

2017 - H1 2025
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