Petrol imports jumped 60% in May - NMDPRA

Nigeria experienced a significant surge in petrol imports in May, with purchases from foreign suppliers jumping by 59.5% compared to the previous month. Data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) shows that average daily imports rose from 3.7 million liters in April to 5.9 million liters in May.

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Crude oil supplied to domestic refineries declined by 5.6 per cent in May, falling from 612,000 barrels per day in April to 578,000 barrels per day.

This sharp increase in imported fuel comes at a time when crude oil supply to Nigeria's domestic refineries saw a decline. Receipts fell by 5.6%, from 612,000 barrels per day in April to 578,000 barrels per day in May. Despite this, the total petrol supply in the country increased by 6.8% month-on-month, indicating that imported products played a crucial role in bridging the gap left by reduced domestic production.

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The country’s total petrol supply increased by 6.8 per cent month-on-month, rising from 44.4 million litres per day in April to 47.4 million litres per day in May.

While local refineries still contribute the dominant share of petrol supply, with 41.5 million liters per day in May, the growing reliance on imports highlights persistent challenges in achieving self-sufficiency in petroleum products. This rebound in import volumes follows a period of moderation after the commencement of operations at some domestic refining facilities.

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Petrol supplied from domestic sources rose marginally by two per cent to 41.5 million litres per day in May, compared to 40.7 million litres per day recorded in April.

The NMDPRA statistics underscore the ongoing dependence on imported petrol, particularly as feedstock supplies to local refineries remain unstable. This situation raises concerns about the long-term sustainability of Nigeria's local fuel production capabilities and its broader energy security goals.

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While there was a sharp increase in imported petrol volumes, which surged by 59.5 per cent from 3.7 million litres per day in April to 5.9 million litres per day in May.