The importation 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, according to the latest data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority.
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 refinery operated at an average capacity utilisation of 93.62 per cent in March 2026. Data on the refinery’s performance showed that it produced 48.2 million litres per day of Premium Motor Spirit (petrol) during the period, out of which 34.2 million litres per day was supplied to the domestic market.
This indicates that Dangote alone accounted for about 72.3 per cent of Nigeria’s total petrol consumption, estimated at 47.3 million litres per day in March, reinforcing its position as the single largest supplier of fuel in the country. In the diesel segment, the refinery produced 16.5 million litres per day of Automotive Gas Oil, with 2.2 million litres per day distributed locally, while the rest was either exported or held for other uses.
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 N1,275 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. The report also indicates growing concerns that the current days of petrol sufficiency may decline due to the limited number of import licences issued to marketers, raising fears of potential supply constraints.
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.