The Central Bank of Nigeria (CBN) has disclosed that the Dangote Refinery imported crude oil valued at $3.74 billion in 2025 to sustain its operations.
The apex bank made the revelation in its latest economic report, highlighting the scale of foreign exchange required to support the refinery’s crude supply needs.
According to the CBN, the refinery’s reliance on imported crude reflects ongoing challenges in sourcing sufficient feedstock locally, despite Nigeria being Africa’s largest oil producer.
The report noted that the refinery “imported crude oil worth $3.74 billion in 2025,” underscoring the significant demand for foreign exchange in the country’s oil sector.
The development comes amid efforts by the Federal Government to boost local refining capacity and reduce dependence on imported petroleum products.
The Dangote Refinery, which has a processing capacity of about 650,000 barrels per day, is expected to play a key role in transforming Nigeria’s downstream petroleum industry by meeting domestic demand and exporting refined products.
However, analysts say continued dependence on imported crude could put pressure on Nigeria’s foreign reserves, especially in a volatile global oil market.
The CBN reiterated the need for improved domestic crude supply to local refineries to ease forex demand and strengthen the country’s energy security.
