Dangote Petroleum Refinery spent about $3.74 billion importing crude oil in 2025, highlighting a striking contradiction in Nigeria, which remains one of Africa’s leading oil producers.
The figure, revealed in a report by the Central Bank of Nigeria, shows how domestic refining demand is increasingly being met with foreign crude supplies.
At the same time, Nigeria’s crude oil export earnings declined significantly, falling to $31.54 billion from $36.85 billion the previous year.
Despite this drop, the refinery’s output helped reduce dependence on imported fuel, with refined petroleum imports dropping sharply to $10 billion from over $14 billion, easing pressure on fuel supply.
The report also showed that non-oil imports rose notably, reflecting continued reliance on foreign goods, while overall goods trade remained in surplus, supported by increased exports of refined petroleum products and gas.
The Dangote facility alone accounted for billions of dollars in refined product exports, strengthening the country’s external trade position.
Nigeria recorded a current account surplus of $14.04 billion in 2025, lower than the previous year but still a strong improvement compared to earlier periods. However, rising service payments and higher returns to foreign investors increased outflows, weighing on the overall balance.
The data underscores a complex shift in Nigeria’s oil sector, where crude imports are rising to support local refining, even as policies aimed at prioritizing domestic supply continue to face implementation challenges.
About The Author
