Nigeria's Petrol Import Bill Hits N952.15 Billion in Q2 2026

In the second quarter of 2026, Nigeria's petrol import bill surged by 989.4% quarter-on-quarter, reaching N952.15 billion, a significant increase from N87.40 billion in the first quarter. This data was revealed in an analysis of foreign trade statistics by the National Bureau of Statistics (NBS).

However, the value of petrol imports was 59.9% lower than the N2.38 trillion recorded in Q2 2025, indicating a substantial decline in annual import expenditure. Petrol imports accounted for 6.6% of Nigeria's total imports in Q2 2026, compared to just 0.64% in Q1 2026.

The decline from Q2 2025 may reflect improvements in domestic refining capacity, while the quarterly increase suggests that imported petrol remained crucial for meeting domestic demand. Earlier reports indicated that Nigeria's petrol imports rose by 59.5% in May 2026, despite increased output from domestic refineries.

The Dangote refinery's capacity increased from 650,000 barrels per day to 700,000 barrels per day following maintenance and expansion completed in February 2026.