Preheat oven to 350°F and butter and flour a 9-inch springform pan.
In a large bowl, combine oil, sugar, honey, ricotta, and vanilla. Mix on medium speed with an electric mixer until ingredients are well combined. Add eggs and mix well.
Add flour, baking powder, and salt; mix until incorporated.
Remove ¼ cup of cake batter and whisk together with ½ cup fig jam and 4 to 6 tablespoons of water. (The goal here is a drizzling consistency.) Set aside.
Pour cake batter into the prepared springform pan. Dollop fig jam mixture over the top of the cake and use a toothpick or knife to swirl it into the batter.
Bake for 40 to 45 minutes or until cake is set in the center and a toothpick inserted into the center comes out clean. Let cake cool completely.