Petrol Import Bill Drops By $4bn On Domestic Refining—CBN

Nigeria reduced its petrol import expenditure by $4.06 billion to $10 billion in 2025. This marked a 28.88 per cent decrease from the $14.06 billion spent in 2024, data from the Central Bank of Nigeria’s (CBN) 2025 balance of payments report showed. The CBN attributed this reduction primarily to the ramp-up in domestic refining capacity, […]

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