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

FG to Phase Out Electricity Subsidy, Introduce Cost-Reflective Tariffs Within a Year

CBN Keeps Benchmark Rate at 26.5% as MPC Maintains Tight Monetary Policy

Foreign Reserves Cross $52 Billion, Highest Level in 17 Years

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

Nigeria Exports Electricity Worth N23bn as Local Consumers Suffer Outages.

FG to Phase Out Electricity Subsidy, Introduce Cost-Reflective Tariffs Within a Year

by Victoria Attah
July 24, 2026
0

The Federal Government has confirmed plans to gradually eliminate electricity subsidies and fully implement cost-reflective tariffs across Nigeria’s power sector....

$26 Billion for unidentified source passed through Binance-Cardoso

CBN Keeps Benchmark Rate at 26.5% as MPC Maintains Tight Monetary Policy

by Stephen Akudike
July 22, 2026
0

The Central Bank of Nigeria (CBN) has decided to retain the Monetary Policy Rate (MPR) at 26.5%, maintaining its tight...

Nigeria’s Foreign Reserve Records a Slight Increase of $12 Million

Foreign Reserves Cross $52 Billion, Highest Level in 17 Years

by Jide Omodele
July 22, 2026
0

Nigeria’s external reserves have reached $52.02 billion, marking the highest level recorded in more than 17 years and surpassing the...

CBN Scrambles over Nigeria’s Cryptocurrency Problem

Nigeria’s $40 Billion Blockchain Ambition Lags as Focus Shifts to Crypto Regulation

by Bolarinwa Mathew
July 22, 2026
0

Nigeria’s national blockchain policy, launched three years ago with the potential to generate up to $40 billion in economic value,...

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

Nigeria Exports Electricity Worth N23bn as Local Consumers Suffer Outages.

FG to Phase Out Electricity Subsidy, Introduce Cost-Reflective Tariffs Within a Year

July 24, 2026
NEC Affirms CBN $3 Billion Loan for Naira Stability

Naira Strengthens as FX Turnover Hits Record $1.5 Billion in a Single Day

July 24, 2026

Popular Story

  • Nigeria’s Debt to China Surges by $800 Million in One Year

    31 Nigerian States Grapple with N2.57 Trillion Domestic Debt Amid No Foreign Inflows

    0 shares
    Share 0 Tweet 0
  • Nigeria’s $40 Billion Blockchain Ambition Lags as Focus Shifts to Crypto Regulation

    0 shares
    Share 0 Tweet 0
  • Cryptocurrency Rave as Bitcoin Exceeds $60,000 Mark for First Time Since 2022

    0 shares
    Share 0 Tweet 0
  • Crypto-Tsunami as over 247,000 investors lose $1.7 billion

    0 shares
    Share 0 Tweet 0
  • FG Increases 2026 Borrowing Plan to N29.20 Trillion as Fiscal Deficit Widens

    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}
?>