The Federal Government has announced that Nigeria’s petrol consumption has dropped to 50 million litres per day with half of this demand being met by local refineries.
As a result, Nigeria imports over 25 million gallons of fuel every day to cover the remaining demand.
This importation approach guards against possible shortages in the downstream industry and guarantees a steady supply of petrol. It’s crucial to remember that domestic refining companies do not take part in the importing process.
In a related development, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) declared that, as of March 1, 2025, petroleum tankers with a capacity of 60,000 litres are not permitted to operate on Nigerian roadways. Reducing traffic accidents involving large, heavy-duty petroleum tankers is the goal of this policy.
