Nigeria TV Info 

Two-Year Refining Milestone: Nigeria Cuts Fuel Import Spending by 54% to $6.7bn

Nigeria’s efforts to boost local refining have significantly reduced fuel import costs, dropping spending by 54% to $6.7 billion over the past two years. The milestone reflects increased output from domestic refineries and policy support aimed at achieving self-sufficiency. Analysts note that the reduction has eased pressure on the nation’s foreign reserves and strengthened the naira, while also creating jobs in the local refining sector. The government remains committed to completing ongoing refinery projects and incentivizing private sector participation to further cut import dependency.