Nigeria’s crude oil imports climbed sharply in the first half of 2025, reaching 5,665,602 metric tons, a 26.5 per cent increase compared to 4,478,413 metric tons recorded in the same period of 2024.
The rise is largely linked to the growing operations of the Dangote Petroleum Refinery, which sources crude oil from countries such as the United States, Brazil, Angola, and Equatorial Guinea.
Fresh data from the Nigerian Ports Authority showed that crude imports in the first quarter of 2025 fell to 2,400,553 metric tons, a 30 per cent drop from 3,037,209 metric tons in the same quarter of 2024. However, the second quarter of 2025 saw a surge, with imports rising to 3,265,099 metric tons, representing a 126 per cent jump from the 1,441,204 metric tons posted in the second quarter of 2024.
The Dangote Refinery, which began operations in May 2023 and started refining diesel and aviation fuel in January 2024, has since played a key role in reshaping Nigeria’s trade flow. The facility imports crude for processing and exports refined petroleum products to global markets. In the first half of 2025, Nigeria exported 998,500 metric tons of petrol, slightly lower than the 1,078,912 metric tons exported during the same period in 2024.
Reports show that low crude output remains a major challenge. The government had planned to produce 2.06 million barrels per day, including condensates, with 37 per cent meant for domestic refineries. However, the Nigerian Upstream Petroleum Regulatory Commission reported actual production ranging between 1.6 and 1.7 million barrels per day across the first half of the year, limiting domestic crude allocation.
Industry experts explained that much of Nigeria’s crude is tied up in forward sales contracts to international buyers, leaving less supply for local refining. This gap has forced the Dangote Refinery to rely heavily on foreign crude.
The refinery has also boosted activities in the maritime sector. Analysts note that more vessels now call at Nigerian ports to deliver crude and load refined products, generating higher revenues for the Nigerian Ports Authority through ship dues, pilotage fees, and other charges. The entry of Very Large Crude Carriers has added to Nigeria’s shipping value and raised its international maritime ranking.
Stakeholders argue that crude imports are not unusual, as many oil-producing countries import crude to meet refinery demands. They maintain that Nigeria is pursuing long-term projects aimed at raising production levels. The government has also launched “Project 1 Million Barrels,” targeting 2.5 million barrels per day in the short term to strengthen local supply.
The first half of 2025 has shown that the Dangote Refinery is not only changing trade flows but also spurring new economic activity in shipping, refining, and exports. While challenges in crude supply remain, Nigeria is positioning itself for a more balanced and self-sustained oil industry in the coming years.