Nigeria’s crude oil imports rose sharply by 26.5 percent to 5.67 million metric tons in the first half of 2025, up from 4.48 million metric tons in H1’24, driven largely by feedstock demand from the 650,000 bpd Dangote Petroleum Refinery. The refinery imported shipments from the U.S., Brazil, Angola, and Equatorial Guinea, amid constrained local crude supply.
According to Nigerian Ports Authority data, imports dipped in Q1’25 but rebounded in Q2, surging 126 percent year-on-year. Meanwhile, refined product exports included nearly one million metric tons of petrol, slightly below last year’s levels.
Analysts note Dangote’s reliance on foreign crude stems from Nigeria’s limited domestic allocation, tied up in forward sales and joint ventures with IOCs. Nonetheless, the refinery has boosted revenue for the Nigerian Ports Authority through shipping dues and created fresh economic activity across the maritime sector, reinforcing expectations of stronger trade balances and foreign exchange earnings.
