Key Market Indicators
Nigerian fuel exports are projected to decline to approximately 628 cubic meters by 2028, down from 694 cubic meters in 2023. This represents an average annual decrease of 1.6%. Over the long term, the country's fuel supply has been shrinking significantly, with a 30.6% year-on-year decline observed since 2002. On the import side, Nigeria's fuel imports remained steady at close to 28 cubic meters in both 2019 and 2020, showing no change year over year. However, the long-term trend indicates a sharp decline in demand, with Nigerian fuel imports having decreased by 50.3% annually since 2013.
