Nigeria Spends N4 Trillion on Fuel Imports in First Half of 2025 – NBS Report
Nigeria has spent a staggering N4 trillion on fuel imports in the first six months of 2025, according to the latest data released by the National Bureau of Statistics (NBS). This alarming figure highlights the country’s continued dependence on imported petroleum products despite its status as Africa’s largest oil producer.
The data underscores growing concerns over Nigeria’s foreign exchange pressure and the financial burden of fuel subsidies, which continue to drain national revenue. The high fuel import bill also comes amid lingering challenges in the domestic refining sector and delays in the full operationalization of local refineries, including the much-anticipated Dangote Refinery.
Economic analysts warn that the massive spending on fuel imports is unsustainable and detrimental to Nigeria’s long-term economic stability. “N4 trillion in just six months is not just a number — it reflects deeper structural issues in the energy sector,” said an industry expert.
The spike in import costs has also contributed to Nigeria’s widening trade imbalance and exerted pressure on the naira, already weakened by inflation and fluctuating oil prices.
Calls are growing louder for the government to implement robust energy reforms, including revamping state-owned refineries, encouraging private sector participation in local refining, and reducing the nation’s reliance on imported petroleum products.
As Nigerians grapple with the effects of fuel price volatility and rising living costs, the NBS figures serve as a stark reminder of the urgent need for energy sector transformation and sustainable economic policies.
