Nigeria’s spending on petrol imports declined sharply in the first quarter of 2026, falling to N87.40 billion from N2.27 trillion recorded in the same period of 2025, according to data released by the National Bureau of Statistics (NBS).
The latest figures show a year-on-year decline of 96.15 per cent, while imports of Premium Motor Spirit (PMS) also dropped by 97.53 per cent compared to N3.54 trillion recorded in the fourth quarter of 2025.
This translates to savings of about N2.18 trillion relative to the corresponding period of last year and N3.45 trillion compared to the preceding quarter.
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The decline reflects a growing shift toward locally refined petroleum products, driven largely by increased output from domestic refineries, particularly the Dangote Petroleum Refinery.
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The development has significantly altered Nigeria’s import profile, reducing dependence on imported petrol.
Data from the NBS indicated that PMS accounted for just 0.64 per cent of total imports in Q1 2026, down from 13.64 per cent in Q1 2025 and 20.52 per cent in Q4 2025.
Total imports also declined to N13.62 trillion during the period from N16.64 trillion a year earlier.
The statistics further revealed that petrol was no longer among Nigeria’s top ten imported products in the first quarter of the year, highlighting the scale of the shift in the country’s energy trade pattern.
Within the fuels and lubricants category, petrol’s share fell to 14.43 per cent from 46.25 per cent in the corresponding period of 2025.
Total fuels and lubricants imports stood at N2.51 trillion, representing a 58.80 per cent decline year-on-year.
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Meanwhile, processed fuels and lubricants imports dropped to N605.53 billion from N4.91 trillion, while primary fuels and lubricants rose to N1.91 trillion, reflecting changing demand dynamics within the sector.
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Recent data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority showed that local refinery supply reached 3.18 billion litres in Q1 2026, accounting for about 76.7 per cent of total petrol supply.
The Dangote Refinery alone supplied an average of 40.1 million litres of PMS daily in January, underscoring the growing role of domestic refining in meeting national fuel demand.
