Investigation has shown that Nigeria consumes over 40 million liters of petrol per day. This is according to truck out data from the Nigerian Midstream and Downstream Regulatory Authority (NMDPRA).
Out of daily fuel consumption, the country is currently importing 31.8 million liters, or almost 79.5%, of Premium Motor Spirit (PMS) to compensate for its lack of refining capacity.
With NNPC Ltd controlling 1.2 million litres and Dangote Refinery contributing an average of seven million litres, the total in-country refining capacity is 8.2 million litres. Modular refineries are no longer an option because they now exclusively make diesel.
Thus, just 20.5% of the nation’s petrol needs are satisfied by domestic refineries; the rest, 79.5%, or 31.8 million litres, are imported.
Although the Dangote refinery currently produces around 30 million litres of gasoline, only roughly seven million of that amount is sold domestically. The amount rose by five million litres in October from its original 25 million litres.
Due to the Dangote refinery’s persistent complaints about not being able to obtain enough crude oil from NNPC Ltd., it was forced to import unknown amounts of crude oil from the United States and other countries.
With the release of 16.3 million liters, the Dangote Refinery began lifting gasoline to NNPC in September 2024.
When compared to the original 25 million liters per day agreement with NNPC, the volume, according to sources, represents an 8.7 million liter deficiency.
A top executive at a major downstream marketing organization confirmed to the Daily Sun over the weekend that they have started importing petrol because of a scarcity in local production.
According to the source, they are turning to the importation of petroleum products because the refining capacity is insufficient to satisfy local demands.
In October, Dangote Group President Aliko Dangote promised that his refinery had over 500 million liters of gasoline on hand, more than enough to supply Nigeria if merchants purchased from it.
Dangote questioned why private retailers and the state-owned Nigeria National Petroleum Company Limited (NNPC) were still importing gasoline since his refinery can generate enough.
Dangote did not specify how long his refinery, which produces 650,000 barrels of gasoline per day, had been refining and storing the 500 million liters of gasoline.
He clarified that his refinery has enough gasoline on hand, but marketers have not been purchasing it. He also emphasized that, as a producer, the refinery is not accountable for the shortage because it does not manage fuel distribution.
TimesNow.com.ng reported that The Nigerian National Petroleum Company Limited (NNPCL) has announced that the 125,000-barrel-per-day Warri Refining & Petrochemicals Company (WRPC) has resumed operations.
Mele Kyari, the NNPCL Group Chief Executive Officer, disclosed this during a tour of the facility in Delta state on Monday, December 30.
The news of the operational refinery comes barely a month after the old Port Harcourt Refinery began operations.
Source: TimesNow.com.ng
