UK buys £1bn Nigerian oil as Dangote refinery expands
The UK imported £1.02bn worth of refined petroleum products from Nigeria in one year, overtaking crude oil as the Dangote refinery boosts export capacity. Read More: https://punchng.com/uk-buys-1bn-nigerian-oil-as-dangote-refinery-expands/
The United Kingdom increased its imports of refined petroleum products from Nigeria by more than 100% in the 12 months ending June 2026, reaching £1.02 billion, as the Dangote Petroleum Refinery expands Nigeria's capacity to export processed fuel. This shift in trade signals a growing reliance on Nigeria's processed petroleum products rather than crude oil exports.
Meanwhile, crude oil imports from Nigeria declined by 56.2% to £550.3 million, representing only 28.9% of total British goods imports from the country. The expansion of the Dangote Refinery, which has a processing capacity of 650,000 barrels per day, has been increasing Nigeria's participation in international petroleum markets.
Brief written by urgent.news from Punch Nigeria's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
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