– Crude oil import surges as
– Confectionery industry resilient as wheat trails crude
Esther Oritse
Lagos — There are indications that the full operation of the Dangote Refinery has significantly reshaped Nigeria’s import landscape, with crude oil now leading the country’s inbound trade.
According to data from the Nigerian Ports Authority (NPA), crude oil was the top imported commodity in the first half of 2025, with 5,665,602 metric tons brought into the country — representing a 26.5% increase from 4,478,413 metric tons recorded during the same period in 2024.
This surge has displaced previously dominant imports such as wheat and general cargoes.
Additionally, the surge in crude oil imports has led to a further decline in the importation of refined petroleum products such as Automotive Gas Oil (AGO) and Premium Motor Spirit (PMS) otherwise known as petrol.
The Dangote Refinery, owned by Dangote Industries Limited, was inaugurated on May 22, 2023.
However, it officially began production of refined products like diesel and jet fuel in January 2024 after receiving its first crude oil deliveries in December 2023.
From the initial delivery in December 2023, the refinery had depended on imported crude oil for its operations.
Details of the NPA data show that a total of 998,500 metric tons of Premium Motor Spirit (PMS) were imported by various marketers in H1’25 representing a 7.45% decrease compared to the 1,078,912 metric tons imported during the same period in 2024.
A breakdown of the figures shows that crude oil imports increased in 2025 compared to the same period in 2024.
In the first quarter of 2025, 2,400,553 metric tons were imported, compared to 3,037,209 metric tons in the first quarter of 2024.
However, in the second quarter of 2025, crude oil imports rose significantly to 3,265,099 metric tons, more than double the 1,441,204 metric tons imported in the second quarter of 2024.
Also on the imports chart is another significant commodity performance where, despite broader economic challenges, demand for wheat continues to rise and driving the volume of its importation to 1,201,584 metric tons in H1’25.
This represents a 16% increase over the same period in 2024, when 1,035,861 metric tons were recorded. The steady growth highlights the resilience of the confectionery industry, which heavily relies on wheat as a key input.
Bulk Sugar, an essential ingredient in the confectionery industry, recorded 860,011 metric tons in imports during the first half of 2025, representing a 64.1% increase compared to 524,147 metric tons in the same period of 2024.
On the flip side are other notable commodities on the import chart such as sugar, another condiments used by confectioners, which recorded a decline of approximately 49.4% in the H1’25 with total volume at 361,647 metric tons compared to 714,305 during the same period in 2024.
Containerized cargo imports also experienced a significant decline, dropping by approximately 69.5% — from 92,512 units in the first and second quarters of 2024 to just 28,208 units between January and June of 2025.
The construction industry continued to drive demand for key materials used in projects nationwide, with Gypsum, Urea, Clinker, and Bitumen all prominently featured on the import chart.
For Bulk Gypsum, 256,304 metric tons were imported in the first half of the current year, representing a 12.4% decrease compared to the 292,692 metric tons recorded during the same period in 2024.
However, for Clinker, a major input in the cement industry, there was a noticeable increase in imports in 2025, with 150,000 metric tons recorded in the first half of the year, up from just 139 metric tons during the same period in 2024. This represents a staggering increase of over 107,800% year-on-year.
Clinker, a vital component in cement production, is a nodular material, typically resembling small marble-sized pellets, formed by heating limestone, clay, and other raw materials in a kiln at extremely high temperatures.
Crude oil import, others Muda Yusuf comments
Many industry analysts have observed that Dangote Refinery has had to turn to international markets for crude oil supply, highlighting the ongoing challenges in sourcing adequate quantities locally within Nigeria.
Reacting to the import chart development, former Director General of the Lagos Chamber of Commerce and Industry (LCCI), Dr. Muda Yusuf, explained that Dangote Refinery has been forced to import crude oil due to its inability to secure adequate supply from local sources
Yusuf also said that Nigeria has committed much of its crude through advanced sales agreements with international buyers, making it difficult for the government and International Oil Companies (IOCs) to meet local demand for crude supply.
He stated: “Over time, a significant portion of our crude has been sold through forward contracts, with payments collected in advance to finance refinery turnaround maintenance and other expenditures.
“That arrangement has limited the volume of crude available locally. And don’t forget, it’s a joint venture between Nigeria and the International Oil Companies, so we can only make decisions within the scope of our share. I believe these are the key issues at play.
“The positive development is the significant decline in the importation of Premium Motor Spirit (PMS).
“In the past, Nigeria was spending nearly $10 billion or more annually on PMS imports. Now, we’re seeing a trade surplus and a more favorable balance of trade.
“We have seen a level of stability in the foreign exchange market, which in itself signals an improvement in our economic position.
“Even when global oil prices were falling, we managed to maintain that stability. A key factor contributing to this is better performance in import substitution.
“The $41 billion in reserves that I am highlighting is part of that progress there’s an import substitution element supporting both our reserves and the stability of the naira”.
Commenting on the steady demand for wheat, Yusuf explained that wheat is a vital raw material for numerous staple foods that are affordable and widely consumed by ordinary Nigerians, which keeps its demand consistently high.
He stated: “Wheat plays a crucial role in the everyday diet of many Nigerians. It’s the key ingredient in staples like noodles, bread, and various confectioneries.
“Flour is central to what can be considered the common people’s food, especially noodles and bread foods consumed by a large portion of the population.”
