KEY POINTS
- Petrol imports fell 26% to 14.6m litres daily.
- Domestic petrol receipts rose 39% to 35.9m litres daily.
- Dangote supplied 35.87m litres daily to the local market.
Nigeria’s average daily petrol imports fell sharply in August as domestic supplies increased, according to the latest data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA.
The regulator reported that petrol imports declined by 26% to 14.6 million litres per day in August, compared with 19.7 million litres per day recorded in July.
At the same time, domestic petrol receipts rose by 39% to 35.9 million litres per day from 25.8 million litres per day in July.
The figures mean domestic petrol receipts exceeded imported supplies by 21.3 million litres per day during the month, pointing to a stronger contribution from local refineries to the domestic fuel market.
NMDPRA said total petrol receipts increased by 11% to 50.5 million litres per day in August, up from 45.5 million litres per day in July.
However, petrol consumption declined during the same period. Volumes trucked into the domestic market fell by 14% to 41.5 million litres per day, compared with 48.5 million litres per day in July.
The lower consumption came despite the increase in overall petrol receipts, resulting in an improvement in petrol stock sufficiency.
Petrol stock sufficiency increased marginally from 22.4 days in July to 22.9 days in August.
Diesel demand and receipts also fall
The diesel market recorded declines in both consumption and receipts during the month.
Daily diesel consumption fell by 15% to 14.3 million litres in August from 16.8 million litres in July.
NMDPRA also reported a 39% drop in diesel receipts, which declined from 23.6 million litres per day in July to 14.5 million litres per day in August.
Despite the lower receipts, diesel stock sufficiency improved by 11% to 51.6 days from 46.5 days.
Aviation fuel moved in the opposite direction, with daily receipts rising by 63% to 3.1 million litres in August from 1.9 million litres in July
The Dangote refinery was a major contributor to domestic petroleum supply during August.
According to NMDPRA, the refinery produced an average of 41.94 million litres of petrol per day during the month. Of this volume, 35.87 million litres were supplied to the domestic market, while 9.73 million litres were exported.
The refinery ended August with 360.4 million litres of petrol in stock. Its average capacity utilisation was recorded at 105.21%.
Dangote refinery also produced an average of 18.01 million litres of diesel per day. About 12.37 million litres were supplied to the domestic market, while 8.75 million litres were exported.
The figures underscore the growing role of the 650,000-barrel-per-day refinery in Nigeria’s fuel supply chain as the country reduces its reliance on imported refined products.
