Petrol imports rise as domestic refinery supplies fall

In July 2026, Nigeria experienced a significant shift in its petrol supply dynamics, with domestic refinery supplies falling by 21 per cent, leading to a corresponding rise in petrol imports. According to statistics published by Punch Nigeria, total Premium Motor Spirit (PMS) receipts declined from 50.6 million litres per day in June to 45.5 million litres per day in July, a 10 per cent drop.

This decline was primarily driven by a 21 per cent decrease in domestic supplies, which fell from 32.5 million litres per day to 25.8 million litres per day. Simultaneously, petrol imports increased by nine per cent, rising from 18.1 million litres per day to 19.7 million litres per day. The shift in supply composition highlights the ongoing challenge for Nigeria, Africa's largest oil producer, in transitioning from its historical reliance on imported petroleum products to output from local refineries.

The data also showed that the Dangote Petroleum Refinery, the country's largest private refinery, operated at an average capacity utilisation of over 71 per cent during this period, indicating growing capacity but also underscoring the dependency on imported crude oil and the need for improved refining efficiency.

Brief written by urgent.news from Punch Nigeria's own syndicated text. Machine-written — may contain errors; check the original before relying on it.