The Central Bank of Nigeria has released a total sum of $1.259bn to oil sector players for the importation of petroleum products and other related items into the country, The PUNCH reports.
The amount released between the first three months of 2025 is against the backdrop of the insistence of marketers to continue fuel import despite the availability of petrol from Dangote Refinery.
According to fresh data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority, Petroleum marketers imported 69 per cent of the 21 billion litres of petrol Nigerians consumed between August 2024 and the first 10 days of October 2025.
Between January and March 2025, a total of 2.28 billion litres of petrol were imported despite improved refined product output from the Dangote refinery.
Fuel imports, a significant consumer of foreign exchange, impact the country’s foreign reserves and the naira-to-dollar rate.
The volume represents one of the lowest quarterly import figures in recent years, reflecting the gradual shift towards local refining and blending of petroleum products.
it comes to survival,” he said. “Our decision is driven by economics, not emotion.”
Meanwhile, the latest Energy Bulletin released by the Major Energies Marketers Association of Nigeria has shown a further reduction in the estimated import parity price of key petroleum products, reflecting sustained pressure from global oil prices and exchange rate fluctuations.
According to the report, the estimated import parity price of Premium Motor Spirit has reduced to N805.46 per litre at the spot rate.
