Crude Oil Imports Hit Record High as Dangote Refinery Reshapes Nigeria’s Trade Flow
Nigeria’s crude oil imports surged by 26.5% in the first half of 2025, reaching 5,665,602 metric tons, compared to 4,478,413 metric tons in the same period of 2024, according to fresh data from the Nigerian Ports Authority (NPA). The rise has been largely attributed to the 650,000 barrels per day Dangote Petroleum Refinery, which has been sourcing crude oil from countries including the United States, Brazil, Angola, and Equatorial Guinea. Financial Vanguard’s quarterly analysis shows a mixed trend: Q1 2025: Imports dropped to 2,400,553 MT, down 30% from Q1 2024 (3,037,209 MT). Q2 2025: Imports spiked to 3,265,099 MT, a 126% increase compared to Q2 2024 (1,441,204 MT). The Dangote Refinery, which began refining diesel and aviation fuel in January 2024, has since become a key player in both domestic and global energy trade, exporting petroleum products while importing crude […]