Nigeria, March 10 -- Nigeria's continued reliance on imported gasoline is highlighted by its petrol imports, which more than doubled in 2024 despite an increase in domestic refining capacity.

According to the National Bureau of Statistics (NBS) most recent foreign trade statistics report, the cost of importing petrol increased by 105.3% from N7.51 trillion in 2023 to N15.42 trillion in 2024.

After large expenditures in domestic refining, there were great expectations for a drop in gasoline imports during this dramatic spike.

What The Data Indicates

Import Is Likely Due To Unfulfilled Domestic Supply

Nigeria had hoped that operations at the 650,000 barrels per day Dangote Refinery and the continuous renovation of state-owned refinerie...