Nigeria TV Info 
Petrol Tops Nigeria’s Imports with 613.6 Million Litres in One Year

Nigeria imported a total of 613.6 million litres of petrol between January and December 2024, making it the nation’s top imported commodity, according to new data from the National Bureau of Statistics (NBS). The surge reflects the country’s persistent reliance on foreign refined petroleum products due to non-functional local refineries.

The report further indicated that the importation accounted for a significant portion of Nigeria’s total import bill, contributing to the widening trade deficit. Industry experts warn that unless domestic refining capacity improves through projects like the Dangote Refinery and Port Harcourt Refinery rehabilitation, Nigeria will continue to face pressure on foreign exchange reserves.

Analysts also noted that the high petrol import volume underscores the government’s challenge in stabilizing fuel supply and prices, especially after subsidy removal. They emphasized the need for policy consistency and investment in local refining to reduce import dependency and strengthen the naira.