In February 2025, Nigeria imported petrol and diesel worth approximately ₦930 billion, despite increasing local refining capacities.

The Dangote Refinery, Africa's largest, began processing crude oil in January 2024 and started producing petrol by September. As of February 2025, it operates at 85% capacity, with expectations to reach full capacity within 30 days.

Additionally, the Nigerian National Petroleum Company's (NNPC) Port Harcourt Refinery has resumed operations, contributing to domestic fuel production.

Despite these advancements, local refineries currently meet less than 50% of Nigeria's daily petrol consumption, necessitating continued imports to bridge the supply gap.

This reliance on imports poses challenges, including potential pressures on foreign exchange reserves and the stability of the naira.

To reduce import dependency, experts recommend optimizing refinery operations, establishing competitive local pricing structures, and strengthening regulatory frameworks to encourage domestic supply over imports.