TUESDAY April 15, 2025 |
By thenewsdesk.ng
Imports of Premium Motor Spirit (petrol) have plunged from 44.6 million litres a day in August 2024 to 14.7 ML by 13 April 2025—a fall of roughly 30 ML, or 67 per cent, according to the latest Nigerian Midstream and Downstream Petroleum Regulatory Authority supply tracker.
The Authority’s Chief Executive Officer, Farouk Ahmed, disclosed this to State House correspondents on Tuesday during the sixth edition of the Meet-the-Press briefing series organised by the Presidential Communications Team at the Aso Rock Villa, Abuja.
According to Ahmed, local supply rose 670 per cent within that period.
After contributing virtually nothing in August, local plants delivered 26.2 ML/day in early April, a jump from the 3.4 ML recorded in September, the first month with measurable output.
He credited the surge to the phased restart of the Port Harcourt Refining Company in late November and to incremental volumes from modular refineries.
Despite the progress, combined supply crossed the government’s 50 ML/day consumption benchmark only twice in the eight-month window—November (56 ML) and February (52.3 ML).
In March it slipped just below target at 51.5 ML, and in the first half of April, it remained short at 40.9 ML.
The NMDPRA chief argued that the Authority only grants imports licenses relative to the country’s supply requirements.
