UK buys £1bn Nigerian oil as Dangote refinery expands

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The UK imported £1.02bn worth of refined petroleum products from Nigeria in the year to June 2026, as the Dangote refinery expands export capacity. Read More:…

The United Kingdom imported £1.02bn 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 £550.3m 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 £467m.

Together, refined oil and crude oil accounted for approximately £1.57bn, or 82.4 per cent, of the UK’s merchandise imports from Nigeria.

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