BY NKECHI NAECHE-ESEZOBOR—The Central Bank of Nigeria (CBN) has injected about $1.26 billion into the oil and gas sector in the first quarter of 2025 to support fuel importation and ease foreign exchange pressure on petroleum marketers.
According to the CBN’s Quarterly Statistical Bulletin, the disbursement was made between January and March, with $457.83 million released in January, $283.54 million in February, and $517.55 million in March.
READ ALSO: CBN Assures Nigerians Of Price, Monetary Stability
The intervention comes amid ongoing tensions between the Dangote Petroleum Refinery and fuel-importing marketers over pricing and market dominance in Nigeria’s downstream oil sector.
Despite Dangote’s growing production capacity, data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) show that Nigeria still imported about 2.28 billion litres of petrol in the first quarter of 2025 — one of the lowest import levels in recent years, but still significant.
Between August 2024 and October 2025, marketers reportedly accounted for nearly 69% of the 21 billion litres of petrol consumed nationwide, underscoring the country’s continued reliance on imports despite domestic refining progress.
The CBN’s intervention, analysts say, reflects efforts to stabilise the fuel supply chain, reduce market volatility, and ensure adequate foreign exchange liquidity for energy imports.
