In response to the Dangote Refinery’s inability to fulfill its production commitments, petroleum marketers have resumed petrol imports to bolster Nigeria’s fuel supply.
Between October 18 and October 20, four vessels carrying a total of 123.4 million litres of Premium Motor Spirit (PMS) docked at Nigerian seaports. This development comes amid growing concerns about potential fuel shortages, as the Dangote Refinery, which has a capacity of 650,000 barrels per day, has been producing only 10 million litres of petrol daily—significantly below its initial target of 25 million litres.
The federal government’s decision to fully deregulate the downstream oil sector has paved the way for increased PMS imports. Marketers capitalized on favorable market conditions, bringing in approximately 141 million litres of PMS in September alone.
Documentation from the Nigerian Port Authority reveals that the four vessels arrived at Apapa port in Lagos and Calabar port in Cross River State. Specifically, the shipments included 35,000 metric tonnes, 37,000 metric tonnes, and 10,000 metric tonnes of fuel at Apapa port, along with an additional 10,000 metric tonnes at Calabar port.
Utilizing a conversion rate of 1,341 litres per metric tonne, the total petrol importation is estimated at around 123.4 million litres.
