Nigeria: Petrol Imports Surge 97% in March Amid Shifting Supply Dynamics

Nigeria's fuel supply landscape is undergoing significant shifts, with a dramatic increase in petrol imports observed in March 2026. Data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) reveals a nearly 97% jump in imported petrol volumes, from 3.0 million litres per day in February to 5.9 million litres per day in March. This surge highlights a renewed reliance on foreign supply, even as domestic production shows signs of improvement.

Interestingly, this rise in imports coincides with a notable increase in local supply, primarily fueled by domestic refiners such as the Dangote Petroleum Refinery. Local refiners contributed 34.2 million litres per day in March, underscoring their growing importance in stabilizing Nigeria's downstream sector. Despite these combined efforts, overall daily petrol supply saw only a marginal increase, suggesting complex dynamics at play within the market.

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Petrol import volumes rose significantly in March from 3.0 million litres per day in February to 5.9 million litres per day in March.

The NMDPRA's report also points to a significant drop in petrol consumption, falling from 56.9 million litres per day in February to 47.3 million litres per day in March. This decline is likely linked to the high pricing of petroleum products during the period. Furthermore, petrol stock sufficiency decreased from 30.7 days to 21.2 days, indicating tighter inventory levels. These developments follow the NMDPRA's recent policy adjustments regarding import licenses, reflecting an ongoing effort to balance foreign supply with the burgeoning capacity of local refineries.

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Domestic petrol supply rose significantly from 30.5 million litres per day to 34.2 million litres per day, underscoring growing contributions from local refining capacity.