The United Kingdom imported £1.02bn worth of refined petroleum products from Nigeria in the 12 months ending June 2026, more than double the previous year's volume, according to a Trade and Investment Factsheet released by the UK government on 6 November 2026. Refined petroleum products accounted for 53.5 per cent of Britain's total merchandise imports from Nigeria during the period, making them the largest category of goods the UK purchased from the country. The expansion reflects the growing output of the Dangote Petroleum Refinery, which has a nameplate processing capacity of 650,000 barrels per day and has been increasing its participation in international petroleum markets.
The shift marks a significant change in Nigeria's petroleum trade composition. Crude oil imports into Britain fell by 56.2 per cent to £550.3m during the same period, representing 28.9 per cent of total British goods imports from Nigeria. Refined petroleum exports were approximately 85 per cent higher in value than crude oil exports, 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.
Other Nigerian exports to Britain also grew during the period. Gas worth £179.5m represented 9.4 per cent of goods imports, up 7 per cent from the previous year. Coffee, tea and cocoa products contributed £40.3m, recording growth exceeding 100 per cent, while beverages and tobacco accounted for £30m, increasing by 24.2 per cent. Overall, Nigeria's merchandise exports to Britain reached approximately £1.9bn, representing an increase of 10.4 per cent, or £180m, compared with the preceding 12 months.
Britain's own refined petroleum exports to Nigeria declined substantially. UK refined oil exports to Nigeria amounted to £772.3m, representing 51.5 per cent of total British merchandise exports to the country, but fell by 42.7 per cent compared with the corresponding period ending June 2025, a reduction of approximately £575.5m from an estimated £1.35bn. Nigeria consequently recorded a refined petroleum trade surplus of approximately £245m with Britain. The United States Energy Information Administration confirmed the trend, reporting in August that Nigeria's seaborne petroleum product exports had increased sevenfold since 2023, averaging 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 reversal is particularly significant for a country that historically exported crude oil while spending substantial foreign exchange importing refined petroleum products. According to the US Energy Information Administration, with increased petroleum product supply from Nigeria's largest refinery, imports fell, exports increased, and Nigeria became more self-sufficient in refined petroleum products. 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.