Nigeria spent N952.15bn on fuel imports in the second quarter of 2026, according to Punch, despite the country's growing domestic refining capacity. The spending comes amid an ongoing feud between Dangote Refinery and fuel importers. The figure highlights continued reliance on imported petroleum products even as local refining operations expand, raising questions about the impact of the dispute between Africa's largest refinery and import marketers on the nation's fuel supply and costs.

According to Nairametrics, Nigeria’s petrol import bill rose sharply in the second quarter of 2026, reaching N952.15 billion. The outlet said the figure represents a 989.4% quarter-on-quarter increase from N87.40 billion in the first quarter. The report highlights a major rise in spending on imported petrol within Africa’s largest oil producer, based on the publication’s quarterly comparison of import costs.

Nigeria's large food import gap offers a significant opportunity for the domestic food processing and packaging industry to boost local production, create jobs and retain more value in the economy, according to Alex Gendis, Chief Executive Officer of Beta Glass Plc. Vanguard reported that the country spent N16 trillion on food imports over three years, with a N9 trillion gap that local processing and packaging could help close.

Nigeria's total merchandise trade reached N41.44 trillion in the second quarter of 2026, according to Nairametrics. This represents a 5.61% increase compared to the N39.24 trillion recorded in the same period of 2025, indicating growth in the country's external trade activity year on year. The figures cover total merchandise trade for the quarter, reflecting both import and export transactions during the period under review.

Nigeria's Federal Government spent about N7.21bn running the Ajaokuta Steel Company Limited between 2020 and 2025, even as the nearly 50-year-old complex in Kogi State remained largely dormant, according to spending records obtained by Punch. The expenditure covered taxes, statutory obligations, pension and housing-fund contributions, maintenance, road works and other infrastructure payments across 501 transactions, while the country continued to import steel worth about N1tn.

Nigeria's total merchandise trade reached N41.44 trillion in the second quarter of 2026, driven largely by crude oil and petroleum exports, according to the National Bureau of Statistics. The NBS said the country's trade surplus doubled to N12.60 trillion, while non-oil products remained stuck at 13.8 per cent of exports. Agricultural exports fell sharply by 36 per cent during the period, highlighting continued reliance on oil despite efforts to diversify the economy.