Nigeria's Dependence on Imported Petrol Rises Amid Refining Capacity Expansion

Nigeria's dependence on imported petrol has continued to rebound in July, despite efforts to expand refining capacity. The latest statistics from midstream and downstream petroleum operations show that domestic petrol supply fell by 21% within a month, while petrol imports rose by 9%. This trend highlights the ongoing challenge facing Africa's largest oil producer as it seeks to reduce its reliance on imported petroleum products.

The figures indicate that total Premium Motor Spirit receipts declined from 50.6 million litres per day in June to 45.5 million litres per day in July, a 10% drop. However, the composition of supply changed significantly, with domestic refineries supplying 32.5 million litres of petrol daily in June but only 25.8 million litres per day in July.

At the same time, imported petrol receipts increased from 18.1 million litres daily to 19.7 million litres daily. This shift extends a reversal that began in June, when petrol imports surged by 207% to 18.1 million litres per day as domestic supply dropped by 22% to 32.5 million litres.