Fuel Imports Surge 234%, Threatening Investment in Nigeria’s Domestic Refineries, CPPE Says

Nigeria’s petrol imports more than tripled in three months, while domestic refineries lost market share, according to the Centre for the Promotion of Private Enterprise. The group said the trend could discourage investment in the country’s downstream sector.

CPPE cited data from the Nigeria Midstream and Downstream Petroleum Regulatory Authority showing average petrol imports rising from 5.9 million litres per day in May 2026 to 18.1 million litres in June and 19.7 million litres in July. That represented increases of 206.8% in June and 234% over the three-month period cited.

Domestic refineries’ market share fell from 41.5% in May to 32.5% in June and 25.8% in July. Imported petrol’s share rose from 12.4% to 43.3% over the same period. CPPE said a deregulated market still requires regulators to pay attention to how supply is structured.

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CPPE believes that petroleum-product imports should function as a transparent supply-gap instrument and not as a parallel market that displaces adequate domestic production.

The group’s chief executive, Muda Yusuf, said imports could legitimately cover refinery outages, seasonal demand increases, quality shortfalls and strategic-stock replenishment. He objected to import permits issued without transparent evidence that domestic refiners could not meet demand at acceptable quality and competitive prices.

“CPPE believes that petroleum-product imports should function as a transparent supply-gap instrument and not as a parallel market that displaces adequate domestic production,” Yusuf said. He added that Nigeria should move from managing chronic import dependence toward building a competitive domestic refining ecosystem. The article also reports that Dangote Refinery plans to block petrol importers over quality concerns.

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Where local refiners can supply products of acceptable quality, quantity and competitive market price, indiscriminate import licensing weakens investment, jobs, foreign-exchange conservation, industrialisation and national energy security.