Despite efforts to boost local petrol production, Nigeria continues to import substantial quantities of fuel. Over the last three months, oil marketers have imported 2.3 billion litres of petrol, a move that contradicts earlier promises to halt imports in favor of domestic supply.
Two refineries—Dangote Refinery in Lagos, with a capacity of 650,000 barrels per day, and the Port Harcourt Refinery in Rivers State, producing 60,000 barrels per day from its old plant—recently commenced operations. The Dangote Refinery started selling petrol in September, while the Port Harcourt facility began production this week. However, imports persist due to pricing and output limitations.
In the past three days alone, 68.74 million litres of imported petrol arrived at various Nigerian ports. Despite assurances from the Independent Petroleum Marketers Association of Nigeria (IPMAN) and other industry stakeholders about ramping up local supplies, fresh shipments continue.
This raises questions about Nigeria’s ability to transition fully to local production. Meetings with major oil marketers and regulatory authorities have yet to yield tangible results in ending the nation’s reliance on imports.
The situation highlights ongoing challenges in Nigeria’s oil and gas sector, despite government reforms and investments in refinery capacity.
Stay tuned to NIGPOST for more updates on this developing story.
Leave a Reply