Petroleum Exports Redraw Nigeria-UK Trade Map as Refined Fuel Takes Top Spot

Refined petroleum products have overtaken crude oil as the United Kingdom’s largest goods import from Nigeria, marking a historic shift in the trade relationship between the two countries.

Figures from the UK Department for Business and Trade show that refined products accounted for 47.5 percent of British goods imports from Nigeria in the 12 months ending March 2026.

The UK imported £674.5 million worth of refined petroleum products from Nigeria during the period, significantly surpassing the £438.9 million spent on crude oil.

Crude oil, which has historically dominated Nigeria’s exports to Britain, now represents just 30.9 percent of UK goods imports from the country, while natural gas ranked third at £179.3 million, accounting for 12.6 percent.

The shift was driven largely by a steep decline in British purchases of Nigerian crude, which fell by 64.3 percent compared with the previous 12-month period. Meanwhile, imports of natural gas increased by 6.9 percent.

The growth rate for refined oil imports was not disclosed because the UK Office for National Statistics suppresses percentage changes when growth exceeds 100 percent from a low base.

The changing composition of trade comes as the Dangote Refinery, Africa’s largest refinery, has rapidly expanded its export capacity.

The 650,000 barrels-per-day facility has emerged as a major supplier of refined products to European markets, with energy analysts noting that approximately 20 percent of the UK’s jet fuel imports now come from Dangote.

The refinery’s strategic Atlantic location and expanding operations have positioned Nigeria as an increasingly important supplier in Europe’s evolving fuel market.

In a striking development, refined petroleum products dominated trade in both directions during the period.

While Nigeria supplied Britain with £674.5 million worth of refined fuel, the UK exported an even larger value of the same category to Nigeria, totalling £725.6 million, making it Britain’s largest goods export to Nigeria and accounting for 51.2 percent of total UK goods exports to the country.

That figure, however, declined by 44.7 percent from the previous year.

The latest figures point to a broader realignment in Nigeria-UK merchandise trade, with refined products gaining prominence as crude oil’s contribution to the relationship declines.

The shift comes as both countries seek deeper commercial ties following President Bola Tinubu’s March 2026 State Visit, during which agreements covering trade, migration and border security were signed.

Despite the changing composition, total trade in goods and services stood at £7.3 billion in the four quarters ending March 2026, down 3.4 percent from the corresponding period a year earlier.