Nigeria’s petrol imports surged by 59.5 percent, in May, reversing months of sharp declines driven by scaling domestic refinery output. Data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) reveals that average daily imports of Premium Motor Spirit (PMS) climbed to 5.9 million litres, up from 3.7 million litres in April.
This aggressive influx of foreign fuel comes as nationwide consumption simultaneously dropped by 9.4 percent in the period.
BusinessDay’s analysis of the NMDPRA factsheet for May showed that total consumption at 46.3 million litres is a sharp decline from 51.1 million litres consumed in April. Meanwhile, total supply at 47. 4 million litres per day is 6 percent increase from 44.4 million litres per day supplied in April.
While total petrol supplied in the month stood at 47.4 million litres, domestic supply by the Dangote refinery accounted for 41.5 million litres, representing a 2 percent increase from 40.7 million litres domestically sourced in April. Related News Tuchel's halftime talk inspired England's win over Croatia, says Kane Sanusi raises concern over El-Rufai’s bail conditions, warns of North’s declining influence T-Bills yields climb as CBN clears 1-yr paper at highest rate in five months
