Nigeria's Petrol Supply Drops 23% Despite Dangote Refinery Boost

In September, Nigeria's daily petrol supply decreased by 23%, dropping from 50.5 million litres per day in August to 38.7 million litres. This decline occurred despite the Dangote Petroleum Refinery operating above its installed capacity, with production rising by 13% to 47.22 million litres daily.

Local petrol receipts fell by 21%, from 35.9 million litres to 28.5 million litres, while imports decreased by 30%, from 14.6 million litres to 10.2 million litres. Consequently, the market received 11.8 million fewer litres daily compared to August.

The refinery supplied an average of 28.5 million litres to the domestic market, significantly higher than the 10.2 million litres from imports. Exports from the refinery increased by 59%, reaching 15.47 million litres daily.

The indicative petrol prices in various cities exceeded N1,400 per litre, with the highest price recorded at N1,464.75 in Maiduguri.