Daily petrol imports decline by 42.2% to 24.8m litres

2026-02-15 - 14:50

...As Dangote boosts supply to 40m litres By Obas Esiedesa, Abuja The volume of Premium Motor Spirit (PMS), commonly known as petrol, imported into Nigeria fell by 42.2 per cent in January 2026 to 24.8 million litres per day, down from 42.8 million litres in December 2025, according to a report by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). The report also showed that petrol supplied by the $20 billion Dangote Petroleum Refinery to the domestic market rose by 25.3 per cent last month to 40.1 million litres per day, up from 32 million litres in December 2025. Total daily petrol supply in January 2026 stood at 64.9 million litres, representing a 12.5 per cent decline compared to 74.2 million litres in December 2025. The country recorded 33 days of petrol sufficiency during the month, boosted by a 13 per cent increase in stock availability due to improved supply performance, the report noted. While the daily consumption benchmark remains at 50 million litres, actual petrol consumption averaged 60.2 million litres per day, based on truck-out data. Diesel (Automotive Gas Oil) recorded daily truck-out volumes of 19.2 million litres, aviation fuel 3.5 million litres, and LPG 4,860 metric tonnes. The report stated that the Dangote Refinery operated at 61.27 per cent capacity in January, while the three Federal Government-owned refineries managed by NNPC Limited remained shut. Speaking on the state of the downstream and midstream sectors, NMDPRA Chief Executive, Engr. Saidu Mohammed, described Nigeria’s downstream petroleum sector as experiencing an “irreversible renaissance,” driven by reforms, investments, and regulatory clarity. He highlighted that under the Petroleum Industry Act, the downstream market is now fully liberalised, with pricing increasingly determined by market fundamentals, and praised the Dangote Refinery as a major contributor to reducing import-related fiscal losses of over N6 trillion. Engr. Mohammed assured stakeholders that the regulatory framework remains fair, firm, and decisive, stressing that “regulation must enable value, not inhibit it,” and adding that “confidence is the true currency of any market.”