Nigeria’s petrol imports triple as Dangote Refinery prioritises exports
Following the increase in petrol pump price to N151 Naira per liter by the federal government, petrol stations in Jalingo the Taraba state capital have increased their pump price. Nigeria’s petrol imports more than tripled in June as the Dangote Petroleum Refinery redirected a chunk of its output to export markets, highlighting growing strains in the country’s domestic fuel supply despite the presence of Africa’s largest refinery.
Latest data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) showed petrol imports rose to 18.1 million litres per day in June from 5.6 million litres per day in May, reversing recent gains in reducing the country’s dependence on imported fuel.
The increase comes as the 650,000-barrel-per-day Dangote Refinery, which supplied about 90 percent of Nigeria’s petrol demand in May, scaled back domestic sales in favour of exports to generate foreign currency needed to purchase crude oil.