Soya bean oil imports in Nigeria: data, top suppliers and prices
Nigeria imported $22.7 million of soya bean oil in 2024 (5.2 thousand tonnes). Value fell 65% from 2023. Over 2017-2024 the trade grew strongly, by about 62% a year on average. The peak in this period was 2023, at $64.6 million.
Public statistics, latest complete year (2024). Values in US dollars. Page updated .
Imports by year, 2017-2024
Hover or tap a year for detail.
Year by year
| Year | Value | Quantity |
|---|---|---|
| 2024 | $22.7M | 5.2K t |
| 2023 | $64.6M | 1.1K t |
| 2022 | $19.3M | 12.1K t |
| 2021 | $368K | 235 t |
| 2020 | $195K | 233 t |
| 2019 | $1.1M | 1.2K t |
| 2018 | $370K | 324 t |
| 2017 | $778K | 712 t |
Where Nigeria imports soya bean oil from
Argentina alone supplied 76% of it. Among the main suppliers, Argentina grew fastest (+37% on the year before).
| Supplier country | Value | Share |
|---|---|---|
| Argentina | $17.2M | 76% |
| Brazil | $2.8M | 13% |
| Togo | $1.8M | 8% |
| Benin | $752K | 3.3% |
| Netherlands | $49K | 0.2% |
| Germany | $3K | 0% |
| Italy | $2K | 0% |
| South Africa | $2K | 0% |
| India | $0K | 0% |
Product types under HS 1507
| 1507.10 | Crude soybean oil | 98% |
| 1507.90 | Refined soybean oil | 1.6% |
Codes and full descriptions: HS heading 1507.
Average import price per kg
The average declared value was about $4.35 per kg, 335% above the world average of $1.00. This usually points to higher-grade or processed goods.
Declared value divided by weight, all 2024 shipments. Prices per shipment and per company are in EximDataX.
Who is behind these numbers in Nigeria?
The shipment records behind Nigeria soya bean oil imports (HS 1507): companies, dates, quantities and declared values.
Shipment records are in the platform
Tell us what you trade and we will show you the latest records on a live call.
Direct customs feed: shipment-level records from the official customs source.
Source: CEPII BACI (reconciled UN Comtrade data), HS 2017 edition, release 202601, Etalab Open Licence 2.0. Annual values in US dollars at the customs border; quantities in tonnes where reported. HS 1507: Soya-bean oil and its fractions; whether or not refined, but not chemically modified.
Common questions
What is the value of soya bean oil imported by Nigeria?
Nigeria imported soya bean oil worth $22.7 million in 2024, the latest year with complete public data, about 5.2 thousand tonnes. That ranks it 58th of 211 countries worldwide, with 0% of world imports. The value was down 65% on 2023.
Which countries supply soya bean oil to Nigeria?
Argentina was the largest supplier with 76% of the value ($17.2 million), followed by Brazil (13%) and Togo (8%). The top three together account for 96%, out of 9 supplier countries in total. Italy grew fastest among the top ten, up 67% on the year.
What is the average import price of soya bean oil per kg?
The average declared import value was about $4.35 per kg in 2024, 335% above the world average of $1.00 per kg. Because it averages all grades and sizes, treat the figure as a market benchmark, not a price offer.
How have imports of soya bean oil to Nigeria changed since 2017?
Imports went from $778 thousand in 2017 to $22.7 million in 2024. The peak was 2023 at $64.6 million. Over 8 years the average was $13.7 million a year.
What is the HS code for soya bean oil?
The HS code for soya bean oil is heading 1507. In Nigeria the largest six-digit codes were 1507.10 (98% of the value) and 1507.90 (2%).
How can I find the companies behind this trade?
EximDataX has a direct customs feed for Nigeria, so the importers and exporters behind these totals are visible by name, shipment by shipment. Ask for a live look at your product.
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