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How Nigeria’s crude oil sales drove a £7.6bn trade boom with the UK - BUSINESS INSIDER
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Nigeria’s crude oil exports helped push total trade between Nigeria and the United Kingdom to £7.6bn in 2025, underscoring the continued dominance of energy in their economic ties despite growing calls for export diversification.
- Nigeria-UK trade climbed to £7.6bn in 2025, driven largely by rising crude oil exports.
- The UK imported more than £719m worth of Nigerian crude, refined petroleum products, and gas.
- British exports to Nigeria also rose sharply, led by refined fuel products valued at £1.1bn.
- The latest figures highlight Nigeria’s continued dependence on oil revenues despite renewed diversification efforts.
New trade and investment figures released by the UK Department for Business and Trade showed that crude oil remained Nigeria’s single largest export to the UK during the period under review.
According to the report released on Wednesday, the UK imported £719.2m worth of crude oil from Nigeria, accounting for nearly half of all goods imported from Africa’s largest oil producer. Britain also purchased £514.3m worth of refined petroleum products and £167.8m worth of gas from Nigeria, highlighting strong demand for Nigerian energy exports amid shifting global supply chains.
The figures revealed that total trade in goods and services between the two countries rose by 10.8 per cent, equivalent to £737m, compared with the previous reporting period, which ended in the fourth quarter of 2024.
Analysts say the latest numbers reinforce Nigeria’s strategic importance to the UK’s energy security and broader trade ambitions, particularly at a time when European economies are seeking to diversify their energy sources amid global market disruptions and geopolitical tensions that affect energy flows.
Beyond oil and gas, Nigerian exports to the UK remained relatively limited. Agricultural commodities such as coffee, tea, and cocoa generated £17.9m in export value, while processed fertilisers contributed £17.2m.
UK exports to Nigeria surge amid fuel demand
Overall, UK imports from Nigeria stood at £2.1bn in 2025, representing an 11.3 per cent increase from the previous year. Goods accounted for £1.5bn, or 71 per cent of total imports, while services contributed £614m.
The report showed that imports of Nigerian goods rose sharply by 18.8 per cent, while imports of services from Nigeria declined by 3.5 per cent during the same period.
On the other side of the trade relationship, the UK exported goods and services worth £5.5bn to Nigeria, reflecting a 10.5 per cent annual increase.
British exports were driven primarily by refined petroleum products, valued at £1.1bn, accounting for more than 60 per cent of all UK goods exports to Nigeria. Other major export categories included toilet and cleansing products worth £70.2m, textile fabrics valued at £45.7m, industrial machinery worth £42.2m, and beverages and tobacco products totalling £34.6m.
The data also showed that the UK maintained a significant trade surplus with Nigeria, which widened to £3.3bn in 2025 from £3.0bn recorded a year earlier.
While the UK’s goods surplus with Nigeria fell slightly to £259m, its services surplus rose strongly to £3.1bn, reflecting the growing role of finance, consulting, education, and other professional services in the bilateral economic relationship.
The latest figures come as Nigeria intensifies efforts to expand non-oil exports and reduce dependence on crude revenues, even as petroleum products continue to dominate its international trade profile.
