The United Kingdom imported refined petroleum products worth £1.02bn from Nigeria in the 12 months ending June 2026, reflecting a major shift in bilateral energy trade as the Dangote Petroleum Refinery expands the country’s fuel production and export capacity.
The latest Trade and Investment Factsheet released by the UK government on November 6, 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, imports of refined oil products increased by more than 100 per cent compared with the corresponding 12 months ending June 2025, making them the largest category of goods Britain purchased from Nigeria.
The development points to a changing trade relationship, with Nigeria increasingly exporting processed petroleum products rather than relying mainly on crude oil sales.
The figures come amid the expansion of the Dangote Petroleum Refinery, which has a nameplate processing capacity of 650,000 barrels per day and has increased its participation in international petroleum markets.
An analysis of the report showed that UK imports of Nigerian crude oil fell by 56.2 per cent to £550.3m during the period, accounting for 28.9 per cent of total British merchandise imports from the country.
This means refined petroleum exports were about 85 per cent higher in value than crude oil exports, with a difference of £467m.
Combined, crude oil and refined petroleum products accounted for approximately £1.57bn, representing 82.4 per cent of Britain’s merchandise imports from Nigeria.
Other major Nigerian products imported by the UK included gas worth £179.5m, representing 9.4 per cent of total imports and an increase of seven per cent from the previous period.
Coffee, tea and cocoa products contributed £40.3m, recording growth of more than 100 per cent, while beverages and tobacco accounted for £30m, representing a 24.2 per cent increase.
Overall, Nigeria’s merchandise exports to Britain reached approximately £1.9bn, an increase of 10.4 per cent, or £180m, compared with the preceding 12 months.
Despite the growth in Nigeria’s domestic refining capacity, Britain continued to export refined petroleum products to the country.
UK exports of refined oil products to Nigeria stood at £772.3m, representing 51.5 per cent of total British merchandise exports to Nigeria.
However, the value declined by 42.7 per cent compared with the corresponding period ending June 2025.
The reduction amounted to approximately £575.5m from an estimated £1.35bn recorded in the previous period.
The contrasting figures suggest that the expansion of domestic refining capacity is changing petroleum trade flows between both countries.
Based on the reported export and import values, Nigeria recorded a refined petroleum trade surplus of approximately £245m with the UK.
The development marks a significant change for Nigeria, which has historically exported crude oil while spending substantial foreign exchange on imported refined petroleum products.
The United States Energy Information Administration also highlighted the growing role of the Dangote Refinery in a report published in August.
The agency said Nigeria’s seaborne petroleum product exports had increased sevenfold since 2023, following the rise in domestic production.
“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,” the agency stated.
It disclosed that Nigeria’s seaborne petroleum exports averaged 350,000 barrels per day in the second quarter of 2026, compared with 46,000 barrels per day in 2023.
Exports to Europe also rose to 130,000 barrels per day from 40,000 barrels per day in 2025.
DDM recently reported that the United Kingdom had exempted Nigeria from stricter compliance requirements under its new sanctions targeting fuels refined from Russian crude oil in third countries.
The exemption was contained in guidance released by British authorities and analysed by S&P Global.
The new import restrictions, which took effect on May 20, are intended to close what has been described as the “refining loophole”.
The loophole allowed countries to process Russian crude oil into products such as petrol, diesel and aviation fuel before exporting them to Western markets.
