Petrol imports into Nigeria increased by 59.5 per cent in May despite continued growth in domestic refining, according to data released by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
The report showed that daily petrol imports rose from 3.7 million litres in April to 5.9 million litres in May, while domestic refinery output also increased slightly. Industry observers attribute the increase in imports to declining crude oil supplies to local refineries and the need to bridge temporary supply gaps.
Although local refineries now account for nearly 88 per cent of the country’s petrol supply, stakeholders say consistent crude feedstock remains essential if Nigeria is to fully reduce its dependence on imported fuel.
