The United Kingdom (UK) imported £1.02 billion worth of refined petroleum products from Nigeria in the 12 months ending June 2026, marking a significant shift in bilateral energy trade as the Dangote Petroleum Refinery expands Nigeria’s capacity to export processed fuel.
The latest Trade and Investment Factsheet released by the UK government on 6 November, 2026, showed that refined petroleum products accounted for 53.5 per cent of Britain’s total merchandise imports from Nigeria during the period.
According to the report, refined oil imports rose by more than 100 per cent compared with the corresponding 12 months ending June 2025, becoming the largest category of goods the UK purchased from Nigeria.
The development signals a changing trade relationship between the two countries, with Nigeria increasingly supplying processed petroleum products rather than relying predominantly on crude oil exports.
The figures come amid the expansion of the Dangote Refinery, which has a nameplate processing capacity of 650,000 barrels per day and has been increasing its participation in international petroleum markets.
An analysis of the report by The PUNCH showed that crude oil imports from Nigeria declined by 56.2 per cent to £550.3 million during the period, representing 28.9 per cent of total British goods imports from the country.
This suggests a significant change in the composition of Nigeria’s petroleum exports to Britain, with refined products overtaking crude oil.
Refined petroleum exports were approximately 85 per cent higher in value than crude oil exports, with a difference of £467 million.
Together, refined oil and crude oil accounted for approximately £1.57 billion, or 82.4 per cent, of the UK’s merchandise imports from Nigeria.
The figures highlight the continued dominance of petroleum in Nigeria’s export relationship with Britain, despite the growing importance of domestic refining.
Other major products imported by the UK included gas worth £179.5 million, representing 9.4 per cent of goods imports, an increase of seven per cent compared with the previous period.
Coffee, tea and cocoa products contributed £40.3 million, recording growth of more than 100 per cent, while beverages and tobacco accounted for £30 million, an increase of 24.2 per cent.
Overall, Nigeria’s merchandise exports to Britain reached approximately £1.9 billion, representing an increase of 10.4 per cent, or £180 million, compared with the preceding 12 months.
The report also revealed that Britain continued to export refined petroleum products to Nigeria despite the expansion of domestic refining capacity.
UK refined oil exports to Nigeria amounted to £772.3 million, representing 51.5 per cent of total British merchandise exports to the country.
The value declined by 42.7 per cent compared with the corresponding period ending June 2025.
This represents a reduction of approximately £575.5 million from an estimated £1.35 billion in the previous period.
The contrasting trends suggest that Nigeria’s expanding domestic refining capacity may be changing petroleum trade flows.
Nigeria consequently recorded a refined petroleum trade surplus of approximately £245 million with Britain, based on the reported export and import values.
The reversal is particularly significant for a country that historically exported crude oil while spending substantial foreign exchange on importing refined petroleum products.
The United States Energy Information Administration confirmed the growing importance of Dangote Refinery in a report published in August, noting that Nigeria’s seaborne petroleum product exports had increased sevenfold since 2023.
The agency said, ‘With the increased supply of petroleum products in Nigeria from the country’s largest refinery, imports fell, exports increased, and Nigeria became more self-sufficient in refined petroleum products’.
It disclosed that Nigeria’s seaborne petroleum exports averaged 350,000 barrels daily in the second quarter of 2026, compared with 46,000 barrels daily in 2023. Exports to Europe also increased to 130,000 barrels daily from 40,000 barrels in 2025.
The PUNCH recently reported that the United Kingdom exempted Nigeria from stricter compliance requirements under its new sanctions targeting fuels refined from Russian crude oil in third countries, according to guidance released by British authorities and analysed by S&P Global.
The new import restrictions, which came into force on 20 May, are aimed at closing the so-called ‘refining loophole’ that allowed countries to refine Russian crude into products such as gasoline, diesel and jet fuel before exporting them to Western markets.
