CPPE Warns of 234% Petrol Import Surge Impact

The Centre for the Promotion of Private Enterprise (CPPE) expressed concern over a 234% surge in petrol imports from 5.9 million litres in May 2026 to 19.7 million litres in July 2026, according to data from the Nigeria Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). The average petrol import rose from 5.9 million litres per day in May to 18.1 million litres per day in June (a 206.8% increase) and further to 19.7 million litres per day in July.

During this period, the market share of domestic refineries decreased from 41.5% in May to 25.8% in July, while the market share of imported petrol increased from 12.4% to 43.3%. Dr. Muda Yusuf, Chief Executive of CPPE, stated that imports should not displace domestic refining and called for a transparent import policy that allows local refiners to meet demand.

He warned that indiscriminate import licensing could weaken investment and energy security, urging a shift towards building a competitive domestic refining ecosystem.