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Nigeria Reduces Petrol Imports, Boosts Local Refining Efforts

The Nigerian government has reported a significant reduction in petrol imports for the first quarter of 2026, with local refining efforts contributing to an import bill under N90 billion, according to Olu Arowolo Verheijen, the special adviser to the President on Oil and Gas.

askFinz Newsroom· Jun 20, 2026#petrol import
Nigeria Reduces Petrol Imports, Boosts Local Refining Efforts
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AI Summaryacross 1 source
  • Nigeria has successfully reduced its petrol import bill below N90 billion in the first quarter of 2026.
  • Increased local refining activities have played a key role in achieving this reduction.
  • The move is expected to contribute positively to Nigeria's economic stability by lowering government expenditure on imports.
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