The Dangote Refinery imported $3.74 billion of crude oil in 2025, despite Nigeria being a major crude oil producer.
The Central Bank of Nigeria (CBN) noted this in its Balance of Payments report, highlighting that the imports affected the country’s current account position.
While crude exports fell from $36.85 billion in 2024 to $31.54 billion in 2025, the refinery helped reduce fuel imports, with refined petroleum product imports declining 28.88 per cent to $10 billion.
Non-oil imports rose by 13.6 per cent, reflecting ongoing demand for foreign goods.
The refinery’s operations also contributed to a goods account surplus of $14.51 billion in 2025 and supported a current account surplus of $14.04 billion, though lower than $19.03 billion in 2024.
Significant export of refined products ($5.85 billion) and increased gas exports helped offset crude imports.
The report also revealed that Nigeria imported crude oil worth N5.734 trillion in 2025, due to persistent feedstock shortages at domestic refineries, despite the federal government’s naira-for-crude policy aimed at prioritising local supply.
