Nigeria spent ₦4 trillion on fuel imports in H1 2025, says NBS, highlighting rising costs and the need for local refining solutions.
The National Bureau of Statistics (NBS) has revealed that Nigeria spent an astonishing ₦4 trillion on fuel imports during the first six months of 2025. This figure underscores the country’s continued dependence on imported petroleum products despite efforts to boost local refining capacity.
According to the NBS report, the massive expenditure highlights the ongoing challenges facing Nigeria’s energy sector, including underperforming refineries, rising global oil prices, and foreign exchange pressures. Analysts warn that the high cost of fuel imports could further strain government finances and widen the trade deficit.
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Experts have called for accelerated investments in domestic refining and energy infrastructure to reduce Nigeria’s overreliance on imported fuels. Many believe that operationalizing major projects such as the Dangote Refinery and revitalizing existing public refineries could be key to reversing this trend.
The NBS figures also suggest that without significant reforms, Nigeria may continue to expend a large portion of its foreign reserves on fuel imports — a situation that could impact economic stability and inflation in the coming months.