See more as 8 Nigerian companies import 332m liters of petrol

• About 8 lipid marketers person decided to import petrol into the state contempt the beingness of the Dangote Petroleum Refinery
• This improvement is acceptable to make a terms competition, arsenic the marketers volition effort to person a portion of the petrol marketplace share
• It has been confirmed that Dangote Refinery is the large shaper of petroleum products successful Nigeria

Legit.ng writer Dave Ibemere has implicit a decennary of business journalism acquisition with in-depth cognition of the Nigerian economy, stocks, and wide marketplace trends.

Eight home lipid companies person imported a monolithic 332.4 cardinal litres of petrol betwixt May 11 and 16, 2025.

This is according to information from the latest Tanker Position Report.

Oil companies import petrol from abroad Photo credit: nurphoto
Source: Getty Images

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.

Oil companies import petrol

Petroleumprice.ng reports that Pinnacle Oil emerged arsenic the institution with the highest stock, accounting for much than fractional of the country’s petrol inflow during the six days.

The institution received 2 large consignments a 90,000 MT from the HAFNIA TRITON and 62,000 MT from the LEYTE SPIRIT totalling 152,000 MT oregon astir 182.4 cardinal litres.

Other cardinal importers see AA Rano (30,000 MT), Sunbeth (20,000 MT), OBAT, Rainoil, Matrix, Prudent Energy, and Mainland Oil, each bringing successful 15,000 MT.

Dangote faces contention from lipid companies Photo credit: Bloomberg/contributor
Source: Getty Images

All together, the 8 companies contributed to a summation successful petrol supply arsenic marketers reposition for volatility successful crude prices and forex markets.

Confirmed PMS Imports (May 11–16, 2025):

• Pinnacle Oil: 152,000 MT (182.4m litres)
• AA Rano: 30,000 MT (36m litres)
• Sunbeth: 20,000 MT (24m litres)
• OBAT: 15,000 MT (18m litres)
• Rainoil: 15,000 MT (18m litres)
• Matrix: 15,000 MT (18m litres)
• Prudent Energy: 15,000 MT (18m litres)
• Mainland (Calabar): 15,000 MT (18m litres)

Why are lipid companies bringing successful merchandise from abroad

It is reported that the summation successful imports is being driven by 4 cardinal factors:

• Crude lipid rally: Brent crude traded supra $60 per tube past week, expanding PMS landing costs.
• FX pressures: The weakening naira is prompting importers to frontload volumes earlier imaginable devaluation.
• Regulatory freedom: Since deregulation, depot owners tin freely set prices, incentivising bulk purchases.
• Speculative buying: Some marketers are reportedly holding banal to payment from anticipated terms markups.

Depot owners stock caller findings astir PH, Warri refineries

Earlier, Legit.ng reported that the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) has revealed that the Nigerian National Petroleum Company Limited (NNPC) refineries are not producing Premium Motor Spirit (PMS), besides known arsenic petrol.

The DAPPMAN noted that its members are presently incapable to acquisition from the refineries, citing their constricted output of petrol-grade products.

Olufemi Adewole, DAPPMAN’s Executive Secretary, said that portion the revamped Port Harcourt and Warri refineries are operational, they are chiefly producing naphtha, not petrol.

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Source: Legit.ng