The import of Premium Motor Spirit, also known as petrol, by oil marketers increased sharply in March 2026, surging by about 96.7 per cent compared to February.
This is according to the latest data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
Latest data from the regulator’s March 2026 fact sheet obtained by our correspondent on Tuesday showed that petrol import volumes climbed from 3.0 million litres per day in February to 5.9 million litres per day in March, reflecting renewed reliance on foreign supply amid shifting domestic dynamics.
The report read, “Petrol import volumes rose significantly in March from 3.0 million litres per day in February to 5.9 million litres per day in March.”
At the same time, the NMDPRA said local supply is gradually improving.
This growth is being driven by domestic refiners, including the Dangote Petroleum Refinery, which is quickly becoming a major player in the market.
It said domestic petrol supply rose significantly from 30.5 million litres per day to 34.2 million litres per day, underscoring growing contributions from local refining capacity.
Overall, total daily petrol supply increased marginally from 39.5 million litres to 40.1 million litres during the period under review.
An analysis of the figures indicates that while imports nearly doubled within the month, domestic supply still accounted for the bulk of the market, reinforcing the increasing role of local refiners, particularly the Dangote refinery, as a stabilising force in Nigeria’s downstream sector.
The data also revealed a notable decline in petrol consumption, which dropped from 56.9 million litres per day in February to 47.3 million litres per day in March, suggesting weaker demand due to the high pricing of petroleum products during the period.
Recall that the Dangote refinery increased its petrol price at least five times to ₦1,275 per litre in March.
Similarly, petrol stock sufficiency fell sharply from 30.7 days to 21.2 days, indicating tighter inventory levels despite increased imports.
This combination of rising imports, increasing domestic supply, and falling stock cover highlights ongoing adjustments in Nigeria’s fuel supply chain.
The development comes against the backdrop of policy shifts by the NMDPRA regarding petrol import licences.
Earlier, the regulator had restricted the issuance of new import licences in a bid to prioritise locally refined products and support investments in domestic refining, particularly following the commencement of operations at the Dangote refinery.
However, the authority later reinstated the issuance of import licences to oil marketers, citing the need to prevent supply disruptions and ensure energy security during the transition phase.
Further breakdown of the fact sheet showed that diesel (AGO) supply declined significantly from 24.4 million litres per day in February to 10.3 million litres per day in March, while LPG supply remained stable at 4.7 kilotonnes per day, with domestic contribution increasing.
Domestic gas supply also rose slightly from 4.771 billion standard cubic feet per day to 4.888 bscf/d, reflecting steady growth in the gas segment.
Meanwhile, the regulator highlighted progress in refining projects, noting that the Waltersmith Refinery’s second train has commenced the introduction of hydrocarbons, signalling incremental expansion of Nigeria’s refining capacity.
The combined impact of Dangote refinery’s operations and modular refinery expansions could significantly reduce Nigeria’s long-term dependence on imported fuel.
The PUNCH