Nigeria's Petrol Imports Surge 207% Amid Refinery Growth

The Centre for the Promotion of Private Enterprise (CPPE) reported a significant increase in petrol imports, rising from an average of 5.9 million litres per day in May 2026 to 19.7 million litres per day in July 2026, marking a 206.8% increase. This surge occurred despite Nigeria's expanding domestic refining capacity, leading CPPE Chief Executive Officer Dr Muda Yusuf to express concerns that indiscriminate import approvals could undermine investment in the local refining industry.

Domestic petrol receipts fell from 41.5 million litres per day in May to 25.8 million litres per day in July, while imports accounted for 43.3% of total petrol receipts in July, up from 12.4% in May. Yusuf emphasized that imports should only serve as a contingency for genuine supply shortfalls and called for the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to enhance transparency in its import-approval process, linking it to verified domestic supply gaps.