Refined petroleum products have emerged as the United Kingdom’s largest goods import from Nigeria, accounting for 47.5 per cent of total Nigerian goods imported by Britain in the 12 months ended March 2026, according to the latest UK trade data.
The shift marks a notable change in the composition of Nigeria’s exports to the UK, where crude oil has traditionally held the largest share.
The UK Department for Business and Trade’s latest Nigeria Trade and Investment Factsheet showed that Britain imported £674.5 million worth of refined petroleum products from Nigeria during the period, compared with £438.9 million worth of Nigerian crude oil.
Crude oil accounted for 30.9 per cent of UK goods imports from Nigeria, while natural gas ranked third at £179.3 million, representing 12.6 per cent of total goods imports.
The change was driven partly by a sharp reduction in British purchases of Nigerian crude. UK crude oil imports from Nigeria fell by 64.3 per cent from the preceding 12-month period, while imports of Nigerian natural gas increased by 6.9 per cent.
Other Nigerian products imported by the UK included coffee, tea and cocoa products, valued at £29.3 million, or 2.1 per cent, and processed fertilisers worth £25.2 million, representing 1.8 per cent.
The trade data also reveals a notable feature of the petroleum relationship between the two countries: refined petroleum products were Nigeria’s largest goods export to the UK while simultaneously ranking as Britain’s largest goods export to Nigeria.
The UK exported £725.6 million worth of refined petroleum products to Nigeria during the same 12-month period, accounting for 51.2 per cent of its total goods exports to the country. However, the value represented a 44.7 per centdecline from the previous year.
Other major UK goods exports to Nigeria included toilet and cleansing preparations valued at £61.6 million, textile fabrics at £48.6 million, general industrial machinery at £40.3 million, and mechanical power generators at £32.9 million.
Despite the changes in the composition of trade, overall commercial activity between Nigeria and the UK weakened during the period.
Total trade in goods and services stood at £7.3 billion in the four quarters ended March 2026, down 3.4 per cent, equivalent to £258 million, from the corresponding period of the previous year.
UK exports to Nigeria declined by 0.9 per cent to £5.3 billion, while imports from Nigeria recorded a sharper 9.3 per cent decline to £2 billion.
Of the £2 billion worth of Nigerian goods and services imported by the UK, £1.4 billion, or 69.7 per cent, came from goods, while services accounted for £616 million, or 30.3 per cent.
Within the goods category, UK imports from Nigeria declined by 11.3 per cent year-on-year, while services imports fell by 4.3 per cent.
The figures point to a changing structure in Nigeria’s petroleum trade with one of its major international trading partners, with refined products taking a larger role even as crude oil exports to the UK recorded a substantial decline.