Marketers Import ₦952 Billion Petrol Amid Dangote Rivalry

In the second quarter of 2026, Nigeria's petrol market saw marketers import petroleum products valued at ₦952.15 billion, a significant increase from ₦87.40 billion in the first quarter, marking a rise of ₦864.75 billion or 989.4%. This surge occurred despite a 10.6% increase in domestic refinery output, with Dangote Refinery raising concerns about the impact of imported petrol on domestic demand.

Data from the National Bureau of Statistics indicated that petrol imports accounted for 6.60% of Nigeria's total import bill of ₦14.42 trillion. While average imported petrol supply decreased by 17.8%, locally refined petrol rose to 80.5% of average PMS supply.

The increase in import spending was attributed to higher international refined-product prices. Dangote Refinery argued that the influx of imports created uncertainty and forced it to export excess inventory, while marketers resisted restrictions on their access to the market, citing the need for competition.