Nigeria’s petroleum products marketers and retailers imported a total of 154.22 million litres of premium motor spirit (PMS) between March 17 and 23, 2025, according to data from the Nigerian Port Authority (NPA).
This development highlights a shift in sourcing strategies as marketers increasingly look beyond the Dangote Refinery for fuel supplies.
Key Details:
- Import Volume: The 154.22 million litres of PMS were brought in through seven vessels carrying 115,000 metric tonnes of fuel. These vessels berthed at major seaports, including the Tincan Port and Lekki Deep Seaport in Lagos, as well as the Calabar Port in Cross River State.
- Dangote Refinery’s Role: The Dangote Refinery, which has a capacity of 650,000 barrels per day, has recently suspended sales of petroleum products in naira due to stalled renegotiations of the naira-for-crude deal with the Nigerian National Petroleum Company (NNPC). This has prompted marketers to seek alternative sources for fuel imports.
- Market Dynamics: The suspension of the naira-for-crude deal has created a gap in local supply, leading to increased reliance on imported fuel. The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) noted that local refineries, including Dangote Refinery, currently meet less than 50% of the nation’s daily petrol consumption.
- Economic Implications: The shift to imported fuel has raised concerns about the impact on fuel prices and the broader economy. The landing cost of imported PMS has dropped to between ₦774 and ₦797 per litre, while the ex-depot price of Dangote Refinery’s products remains higher, at ₦815 to ₦825 per litre.
This surge in imports underscores the challenges facing Nigeria’s downstream oil sector, as stakeholders navigate supply chain disruptions and policy uncertainties.
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