By Maryam Shuaibu
Petrol imports into Nigeria rose sharply in May, climbing by nearly 60 per cent despite growing contributions from local refineries, according to the latest data released by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
The report showed that average daily imports of Premium Motor Spirit (PMS), commonly known as petrol, increased from 3.7 million litres per day in April to 5.9 million litres per day in May.
The surge came as crude oil supply to domestic refineries declined during the same period, raising fresh concerns about the sustainability of local fuel production and Nigeria’s drive towards energy self-sufficiency.
According to the NMDPRA, crude oil supplied to local refineries fell from 612,000 barrels per day in April to 578,000 barrels per day in May, representing a 5.6 per cent decline.
Despite the drop in crude receipts, overall petrol supply increased.
The report showed that total PMS supply rose from 44.4 million litres per day in April to 47.4 million litres per day in May, a 6.8 per cent increase.
Of the total volume supplied in May, domestic refineries accounted for 41.5 million litres per day, while imports contributed 5.9 million litres per day.
Local refineries remain dominant
Although imports increased significantly, local refineries remained the primary source of petrol supply in the country.
Data from the NMDPRA showed that petrol supplied from domestic sources rose slightly from 40.7 million litres per day in April to 41.5 million litres per day in May.
The figures suggest that locally refined products supplied nearly 88 per cent of the country’s petrol needs in May.
Industry analysts say the latest figures highlight Nigeria’s continued reliance on imported fuel to bridge supply gaps whenever refinery feedstock supply becomes unstable.
The increase in imports follows months of declining foreign purchases after major domestic refining facilities ramped up production.
Five-month trend shows declining import dependence
An analysis of fuel supply data from January to May indicates that Nigeria’s dependence on imported petrol has reduced considerably compared to previous years.
In January, imports stood at 24.8 million litres per day, while domestic refineries supplied 40.1 million litres daily.
Imports dropped sharply to three million litres per day in February as local refining gained momentum.
By March, imported petrol rose slightly to 5.9 million litres per day before declining to 3.7 million litres in April.
However, imports rebounded in May, reaching 5.9 million litres per day.
Despite the increase, imported volumes remain significantly lower than levels recorded at the beginning of the year.
Diesel production records strong growth
The report also revealed improved performance in the diesel market.
Automotive Gas Oil (AGO), commonly known as diesel, recorded one of the strongest gains during the month.
Daily diesel supply rose from 10.2 million litres in April to 18.8 million litres in May, representing an 84.3 per cent increase.
Notably, all diesel supplied during the month came from domestic sources as imports dropped from 1.7 million litres per day in April to zero in May.
Domestic diesel production increased by more than 121 per cent during the period.
Aviation fuel also recorded growth.
Daily supply of Aviation Turbine Kerosene (ATK), also known as jet fuel, rose from 2.6 million litres in April to 3.6 million litres in May.
Petrol consumption declines
While supply increased, petrol consumption moderated during the month.
Average daily PMS consumption fell from 51.1 million litres in April to 46.3 million litres in May, representing a 9.4 per cent decline.
Diesel consumption also dropped from 17.3 million litres per day to 16 million litres per day.
The report further showed that PMS stock sufficiency declined from 17.7 days in April to 16 days in May, indicating tighter fuel inventories.
Diesel stock sufficiency also fell from 39 days to 31 days during the review period.
In the gas segment, domestic gas supply declined by 3.1 per cent, dropping from 5.142 billion standard cubic feet per day in April to 4.984 billion standard cubic feet per day in May.
Refinery challenges raise concerns
The increase in petrol imports comes amid reports of operational and feedstock challenges at the Dangote Petroleum Refinery.
Recent industry reports indicated that the refinery reduced the operating rate of its gasoline-producing unit due to feedstock constraints and technical issues.
Stakeholders say consistent crude oil supply to domestic refineries remains critical if Nigeria is to reduce fuel imports and achieve long-term refining self-sufficiency.
They argue that local refineries require adequate and uninterrupted feedstock to sustain production and reduce the need for imported petrol during supply disruptions.
The latest NMDPRA figures underscore the delicate balance between expanding domestic refining capacity and ensuring adequate fuel availability across the country.