The National Bureau of Statistics (NBS) revealed in its latest Foreign Trade in Goods Statistics report for Q1 2025 that Nigeria imported crude oil worth N1.2 trillion as local production faltered—classified under “Petroleum oils and oils obtained from bituminous minerals, crude,” imported crude ranked as the country’s third most imported product during the period.
Accounting for 7.7% of total imports, imported crude trailed only gas oil and motor spirit ordinary, valued at N1.83 trillion and N1.76 trillion respectively.
The data further showed that the United States was Nigeria’s largest source of imported crude, supplying N726.84 billion worth, representing about 61% of the total crude oil imports in the quarter. Angola and Algeria followed, contributing N223.58 billion and N122.37 billion, respectively. These three countries accounted for the majority of Nigeria’s crude imports, underscoring the heavy reliance of local refineries on foreign crude due to inadequate domestic supply.
Local refineries, including modular plants and large-scale facilities like the Dangote Refinery, have increasingly turned to international markets for a more stable and commercially viable crude supply.
Although the report did not specify which refineries were involved, the trend underscores a systemic disconnect between Nigeria’s crude production and refining needs.
Nigeria’s dependence on imported petroleum products remains a pressing concern, with gas oil, motor spirit, and crude oil imports totaling over N4.78 trillion in Q1 2025 alone, accounting for more than 30% of all imports during the period.
Total imports for the quarter reached N15.43 trillion, up 4.59% from Q1 2024 but down 7.02% from Q4 2024. Mineral fuels led the import list with a combined value of N4.97 trillion, making up 32.23% of total imports.
The United States ranked as Nigeria’s third-largest import partner overall, with total trade valued at N1.42 trillion in Q1 2025, over half of which was crude oil.
The NBS report noted, “China remains Nigeria’s top trading partner on the import side in the first quarter of 2025, followed by India, the United States of America, the Netherlands, and the United Arab Emirates.”
Other major imports during the quarter included cane sugar for sugar refining and durum wheat (not in seeds).
