Nigeria’s Petrol Import Rises 207% to 543m Litres in One Month, Puts Pressure on Naira

Emmanuel Addeh in Abuja

Nigeria’s petrol import increased significantly from 5.9 million litres per day in May to 18.1 million litres per day in June, representing a 207 per cent rise, compared to the previous month, according to the latest industry data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).

This development has effectively put pressure on the naira as the demand for foreign exchange by marketers increased correspondingly.

 An analysis of the NMDPRA fact sheet indicated that the country’s petrol import rose sharply from a total of 182.9 million in May 2026 to 543 million litres in June.

This represented a dramatic shift in the nation’s fuel supply dynamics, as the Dangote Refinery has consistently maintained that allowing continued imports undermines local refining efforts.

 According to downstream data, Nigeria’s total daily petrol receipt reached 50.6 million liters in June, up from 47.4 million liters in May.

The management of the Dangote Refinery has consistently argued that its massive capacity, operating at an average utilisation rate of 101.36 per cent is more than sufficient to meet the nation’s domestic consumption needs.

In response, oil marketers and the sector regulator, the NMDPRA, have pushed back, citing the need to ensure supply security and maintain price stability for consumers, particularly when domestic production fluctuates.

Besides, they argue that relying solely on a single source creates a monopoly.

 However, the NMDPRA figures showed that the dispute is continuing despite a 10 per cent surge in crude oil receipts by local refineries from 578,000 barrels per day to 632,000 bpd between May and June.

Last week, Dangote began selling products in dollars as the naira-for-crude policy falters.

 Besides, during the period under consideration, Nigeria’s total stock sufficiency of petrol increased from 16.2 days to 19.7 days, a 22 per cent uptick in June compared with the previous month, May.

 Statistics for June also showed that Automotive Gas Oil (AGO) or diesel supply recorded a total daily receipt of 16.2 million litres as against 18.8 million litres per day in May, all of which was sourced domestically, marking a 14 per cent decline compared to the previous month.

 Also, kerosene receipts declined by 31 percent to 2.5 million liters per day, down from 3.6 million liters per day in May.

 In the meantime, the natural gas data revealed that for the first six months of the year, total utilisation fluctuated between 4.888 Bscf/d and 5.142 Bscf/d.

The month of January recorded 5.015 Bscf/d; February, 4.907 Bscf/d; March, 4.888 Bscf/d; April, 5.142 Bscf/d; May, 4.984 Bscf/d and June, 5.116 Bscf/d.

But sectoral utilisation revealed mixed performance across the economy.

Gas supplied to power generation stood at 0.509 Bscf/d in June, indicating lower consumption by electricity producers despite the increase in overall gas supply, while gas-to-commercial and gas-to-industries rose to 0.643 Bscf/day and 0.554 Bscf/day, respectively.

 On the infrastructure, the Ajaokuta-Kaduna-Kano (AKK) gas pipeline project, a critical component of the national energy infrastructure, reached a 94.3 per cent completion rate as of June 2026, while the OB3 gas pipeline project achieved a 96 per cent completion rate, signaling some progress in the country’s efforts to expand its gas utilisation capabilities.