Nigeria TV Info 

Petrol Imports Crash by N2 Trillion to N87 Billion Amid Rising Local Supply Shift

Nigeria’s petrol import bill has dropped dramatically by about N2 trillion, falling to approximately N87 billion, as domestic refining capacity begins to improve and fuel sourcing shifts away from imports. Industry data suggests that increased output from local refineries and reduced foreign exchange pressure contributed to the decline.

The development signals a major shift in Nigeria’s downstream petroleum sector, with government policies aimed at boosting local refining and reducing reliance on imported Premium Motor Spirit (PMS). Analysts say the trend could strengthen the naira, ease subsidy-related pressures, and stabilize fuel distribution if sustained.

However, experts caution that consistent refinery output, supply chain efficiency, and regulatory stability will be key to maintaining the gains.