Fuels and lubricants dominated 2024 imports, accounting for 37.4% (₦22.7T) of the total ₦60.6T

  • Nigeria imported a total of ₦60.6 trillion worth of goods in 2024.
  • Fuels and lubricants dominated imports with ₦22.7 trillion (37.4%).
  • Industrial supplies accounted for ₦13.4 trillion (22.1%), showing strong demand for production inputs.
  • Capital goods and parts represented ₦9.1 trillion (15%).
  • Food and beverage imports reached ₦6.6 trillion (10.9%), signalling a high reliance on external food sources.

Nigeria’s total imports reached ₦60.6 trillion in 2024, with fuels and lubricants emerging as the dominant import category, accounting for ₦22.7 trillion (37.4%) of the total. This underscores the country’s heavy reliance on imported petroleum products despite being a major crude oil producer. Industrial supplies ranked second with ₦13.4 trillion (22.1%), reflecting the strong demand for raw materials and intermediate goods needed by Nigeria’s manufacturing and construction sectors.

Source:

National Bureau of Statistics

Period:

2024
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