RateCaptain
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
No Result
View All Result
Subscribe
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
No Result
View All Result
RateCaptain
No Result
View All Result
Home Economy

Nigeria’s Petrol Imports Reach 15 Billion Litres Despite Dangote Refinery’s Production

Jide Omodele by Jide Omodele
October 23, 2025
in Economy
Reading Time: 2 mins read
A A
0
Share on FacebookShare on TwitterShare on WhatsappShare on Telegram

Nigeria, Africa’s largest oil producer, imported approximately 15 billion litres of Premium Motor Spirit (PMS), commonly known as petrol, between August 2024 and early October 2025, accounting for 69% of the country’s total petrol consumption during this period. This reliance on imports persists despite the operational start of the Dangote Refinery, which began producing petrol in September 2024, according to data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).

The NMDPRA’s report, covering 15 months of petrol supply trends, indicates that Nigeria consumed a total of 21.68 billion litres of PMS during this period. Of this, locally refined petrol from the Dangote Refinery contributed 6.67 billion litres, or 31%, while imports made up the remaining 15.01 billion litres. The data highlights a gradual shift toward domestic refining, with local production steadily increasing, but imports still dominating the market.

AlsoRead

CBN Tightens Oversight on Digital Finance as Nigeria’s Fintech Boom Accelerates

NNPCL Reports 4.24% Revenue Growth to N2.68 Trillion in February Despite Iran War

World Bank Downgrades Nigeria’s 2026 Growth Forecast to 4.1%

In August 2024, before the Dangote Refinery began supplying petrol, imports averaged 44.6 million litres per day. This figure peaked in September 2024 at 54.3 million litres daily, coinciding with the refinery’s entry into the market. However, imports began to decline in subsequent months, dropping to 24.15 million litres per day in January 2025, 19.26 million litres in September 2025, and 15.11 million litres in the first 10 days of October 2025. This reduction reflects the growing influence of the Dangote Refinery, which by October 2025 was producing 18.93 million litres daily, surpassing imports for that month.

Local production has also seen significant growth. Starting at 6.43 million litres per day in September 2024, domestic output rose to a high of 22.66 million litres per day in January 2025 before stabilizing at around 20 million litres daily. Despite this progress, the refinery faces challenges from petrol importers, who have accused Aliko Dangote, the refinery’s owner, of undercutting competitors through frequent price reductions.

The data also reveals fluctuations in Nigeria’s overall petrol supply. Total daily PMS supply reached a high of 60.73 million litres in September 2024 but fell to 44.08 million litres in April 2025 and further to 34.04 million litres by early October 2025. This decline suggests a significant drop in daily petrol consumption, which fell from 60.73 million litres in September 2024 to 34.04 million litres in October 2025.

The shift in Nigeria’s petrol market follows the federal government’s decision in September 2024 to fully deregulate the sector, ending decades-long fuel subsidies previously managed by the Nigerian National Petroleum Company Limited (NNPCL). The move has paved the way for increased local refining capacity, with the Dangote Refinery playing a pivotal role.

Despite the rise in domestic production, Nigeria’s heavy reliance on imported petrol underscores the challenges of transitioning to self-sufficiency. The NMDPRA data indicates that while local refining is gaining ground, imports remain a critical component of the nation’s fuel supply, highlighting the need for further investment in domestic refining infrastructure to reduce dependence on foreign petrol.

Tags: petrol
Previous Post

NGX Maintains Upward Trend with Investors Gaining N1.45 Trillion

Next Post

NNPC Records N380bn Revenue Drop in September 2025 Amid Production Challenges

Related News

$26 Billion for unidentified source passed through Binance-Cardoso

CBN Tightens Oversight on Digital Finance as Nigeria’s Fintech Boom Accelerates

by Jide Omodele
April 13, 2026
0

As Nigeria’s digital finance sector experiences explosive growth, the Central Bank of Nigeria (CBN) is stepping up its regulatory efforts...

NNPC Terminates Crude-for-Petrol Swap Deals, Embraces Cash Payments for Imports.

NNPCL Reports 4.24% Revenue Growth to N2.68 Trillion in February Despite Iran War

by Akpan Edidong
April 13, 2026
0

The Nigerian National Petroleum Company Limited (NNPCL) recorded a 4.24% increase in revenue for February 2026, rising to N2.68 trillion...

World Bank Extends Nigeria’s Digital Identification Project Deadline Amid Missed Targets

World Bank Downgrades Nigeria’s 2026 Growth Forecast to 4.1%

by Victoria Attah
April 13, 2026
0

The World Bank has revised downward its economic growth projection for Nigeria in 2026 to 4.1%, citing a combination of...

Nigerian Equity Market Sees Impressive N1.08tn Wealth Gain Amidst Bullish Trading.

Stock Market Maintains Bullish Run as Investors Gain N1.36 Trillion in Four Days

by Jide Omodele
April 13, 2026
0

The Nigerian equities market sustained its upward momentum last week, with investors recording gains of N1.359 trillion as strong institutional...

Next Post
NNPCL Reports Record Profit of N2.548tn, Uncovers 52 Illegal Refineries

NNPC Records N380bn Revenue Drop in September 2025 Amid Production Challenges

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Naira Strengthens as Anticipation Mounts for $10 Billion Forex Inflows

Naira Strengthens to N1,355/$ as Fragile US-Iran Ceasefire Eases Dollar Pressure

April 13, 2026
$26 Billion for unidentified source passed through Binance-Cardoso

CBN Tightens Oversight on Digital Finance as Nigeria’s Fintech Boom Accelerates

April 13, 2026

Popular Story

  • Naira Strengthens as Anticipation Mounts for $10 Billion Forex Inflows

    Naira Strengthens to N1,355/$ as Fragile US-Iran Ceasefire Eases Dollar Pressure

    0 shares
    Share 0 Tweet 0
  • NNPCL Reports 4.24% Revenue Growth to N2.68 Trillion in February Despite Iran War

    0 shares
    Share 0 Tweet 0
  • CBN Tightens Oversight on Digital Finance as Nigeria’s Fintech Boom Accelerates

    0 shares
    Share 0 Tweet 0
  • Stock Market Maintains Bullish Run as Investors Gain N1.36 Trillion in Four Days

    0 shares
    Share 0 Tweet 0
  • U.S. Dollar Nears Three-Month Low Amid Inflation Concerns

    0 shares
    Share 0 Tweet 0

RateCaptain

We bring you the most accurate in new and market data. Check our landing page for details.

  • Home
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Disclaimer
  • Cookie Policy
  • Contact Us

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

No Result
View All Result
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

RateCaptain
Manage Cookie Consent
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
  • Manage options
  • Manage services
  • Manage {vendor_count} vendors
  • Read more about these purposes
View preferences
  • {title}
  • {title}
  • {title}
?>