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1 month ago
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- Nigerian substance traders proceed to conflict to get gasoline from the state-owned Port Harcourt and Warri refineries, forcing reliance connected imports and Dangote Refinery
- Nigeria spent ₦15.4 trillion ($9.63 billion) connected petrol imports successful 2024, much than treble the erstwhile year, highlighting its dense dependence connected overseas substance
- Authorities anticipation that afloat operational section refineries volition trim import costs and amended substance proviso stability
Legit.ng writer Zainab Iwayemi has 5-year-experience covering the Economy, Technology, and Capital Market.
Nigerian substance traders accidental they are having occupation getting petrol from the state-owned Port Harcourt and Warri refineries, though these plants were declared acceptable six months ago.
Source: Getty Images
As a result, they stay babelike connected imports and the privately owned $20 cardinal Dangote Refinery to conscionable proviso needs, according to a report from Reuters.
While substance shortages person agelong been a occupation successful Nigeria, the federation has spent much than N11.35 trillion ($25 billion) implicit the past 10 years successful an effort to repair its 3 outdated, non-operational refineries.
To lessen its reliance connected imported petroleum, Nigeria has invested implicit $2.4 cardinal since 2021 to upgrade 2 refineries successful the Niger Delta. However, the section substance proviso is inactive facing issues owed to delays successful getting these refineries afloat operational.
Fuel dealers assertion they are inactive incapable to get substance from the state-owned, NNPC-operated Port Harcourt refinery and the Warri refinery, contempt Nigeria declaring the archetypal signifier of renovations astatine these refineries finished successful December 2024.
More imports
Over 6,700 substance stations are represented by the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), which claims that its members stay babelike connected substance imports and supplies from the largest refinery successful Africa, the Dangote Refinery.
The Dangote Refinery produces 650,000 barrels per time but has not yet reached its afloat accumulation capacity.
Source: Getty Images
According to authoritative records, the Port Harcourt refinery, erstwhile the biggest successful Nigeria, stopped producing gasoline by March 2025.
Nigeria's excessive reliance connected imports remains a large concern. According to the National Bureau of Statistics (NBS), the state spent N15.4 trillion ($9.63 billion) connected petrol imports successful 2024, much than treble the N7.51 trillion spent successful 2023.
In contrast, the Dangote Refinery produced 20.6 cardinal litres of petrol that month, portion imports contributed 25.19 cardinal litres, unneurotic gathering 92% of Nigeria's regular gasoline request of 50 cardinal litres. Authorities anticipation that establishing section refineries volition drastically chopped this expense.
8 Nigerian companies import 332m litres of petrol
Legit.ng reported that 8 home lipid companies person imported a massive 332.4 cardinal litres of petrol betwixt May 11 and 16, 2025. This is according to information from the latest Tanker Position Report.
The full volume, equivalent to 277,000 metric tonnes (MT), was discharged oregon scheduled for discharge astatine cardinal coastal depots successful Lagos, Warri, and Calabar.
The improvement comes amid expanding contention successful the downstream market, wherever Dangote Refinery is expected to statesman full-scale retail operations soon.
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Source: Legit.ng
