Nigeria's Petrol Imports Rise Despite Dangote Refinery Capacity

In July, imported Premium Motor Spirit (petrol) accounted for approximately 43% of Nigeria's total petrol supply, despite the Dangote Petroleum Refinery's capability to meet and exceed domestic demand. Data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority indicated that petrol imports averaged 19.7 million litres per day in July, an increase from 18.1 million litres per day in June.

Conversely, petrol supplied by domestic refineries fell from 32.5 million litres per day in June to 25.8 million litres per day in July. The combined supply of domestic and imported petrol was 45.5 million litres daily, with imports significantly rising from just 5.9 million litres per day in May.

The Dangote Petroleum Refinery expressed concern over the issuance of petrol import licenses, complicating inventory management and domestic demand predictions. The refinery maintained sufficient petrol stocks but indicated that excess inventory may need to be exported due to uncertainties surrounding import volumes.