The petrol import bill of Nigeria has risen by 989.4 percent to N952.15 billion in the second quarter (Q2) of 2026.
Disclosing the figures in its newly released foreign trade statistics for Q2 2026, the report by the National Bureau of Statistics (NBS) showed that the figure rose quarter-on-quarter from N87.4 billion in the first quarter (Q1) of 2026.
The NBS stated that petroleum was Nigeria’s largest imported commodity during the quarter, accounting for 6.6 percent of total imports valued at N14.42 trillion.
Other major imports during the period comprised crude oil, durum wheat, used vehicles with diesel or semi-diesel engines, and motorcycles and cycles fitted with auxiliary motors, “with petrol engines above 50cc but below 250cc, in completely knocked-down (CKD) form”.
The sharp increase in petrol imports is coming despite the expansion of domestic refining capacity, especially the Dangote refinery, which has been bidding to increase its share of the domestic petrol market.
On August 31, the Dangote refinery stated that it may curtail fuel supplies to major oil marketers over the continued importation of petrol into Nigeria.
But despite the sharp quarterly increase, petrol imports remained significantly lower than the level recorded a year earlier.
Petrol import bill stood at N2.83 trillion in Q2 2025, representing a 66.4 percent decline year-on-year.
