Nigeria’s importation of Premium Motor Spirit (PMS), commonly called petrol, has fallen to its lowest level in eight years, according to a new report by Argus. The drop reflects the impact of government policies and the gradual rise in local refining, which are reshaping the nation’s oil market.
The report showed that Nigeria imported about 116,000 barrels of petrol per day in September — roughly 18.4 million litres — compared to 154,000 barrels per day (24.5 million litres) in August. This marks the lowest level since records began in 2017.
The decline occurred even as the 650,000-barrel-per-day Dangote Refinery operated below capacity due to scheduled maintenance and a brief strike by members of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN).
According to the report, the refinery’s Residual Fluid Catalytic Cracking (RFCC) unit was shut down on September 2 for maintenance and expected to resume full production in early October. A two-day strike later in the month disrupted crude oil and gas supply but was quickly settled.
Argus data also revealed that Nigeria’s net petrol imports dropped to 38,000 barrels per day in September, with some shipments from Dangote heading to New York Harbour. Meanwhile, total gasoline exports from the country reached 77,000 barrels per day — the second-highest ever recorded.
Despite lower import volumes, the domestic market experienced no significant shortages, with pump prices remaining steady at around N820 per litre. The continued implementation of the naira-for-crude programme — allowing Dangote to buy local crude and sell refined products in naira — also helped stabilize supply.
Dangote Refinery estimated that Nigeria’s petrol demand averaged about 40 million litres daily in September. Globally, petrol prices rose during the month, partly due to limited output from the Dangote plant and tighter supply conditions.
Between January and September 2025, Nigeria’s petrol imports declined by over 40 percent to 162,000 barrels per day compared to last year, when the country ranked fifth among the world’s top importers. It now occupies the eighth position globally but remains Europe’s largest buyer of petrol, though at nearly half of 2024’s import levels.
