PETROL MARKETERS IMPORT 123 MILLION LITRES AMID ONGOING DISCUSSIONS WITH DANGOTE REFINERY
In a bid to enhance fuel supply across Nigeria, petrol marketers have imported approximately 123.4 million litres of Premium Motor Spirit (PMS), according to findings from seaports. The shipments, spread across four vessels, arrived between Friday, October 18, and Sunday, October 20, 2024, docking at ports in Lagos and Calabar. This marks a significant effort to stabilize fuel availability amidst increasing demands and challenges faced by local refineries.
The recent import comes after industry stakeholders raised concerns that the Dangote Petroleum Refinery—which was expected to produce 25 million litres of petrol daily—was currently delivering only 10 million litres. The import supplements the local production from the $20 billion Lekki-based refinery.
Import Details:
• Ports Involved: Apapa port (Lagos) and Calabar port (Cross River State).
• First Shipment: 35,000 metric tonnes of PMS berthed at Apapa on October 18.
• Subsequent Shipments:
• 37,000 metric tonnes at Apapa.
• Two additional vessels bringing in a total of 20,000 metric tonnes at Apapa and Calabar.
The total shipment, converted to litres using a standard rate of 1,341 litres per metric tonne, brought in the equivalent of 123.4 million litres of petrol.
This activity aligns with recent moves in September, where 141 million litres were imported following price increases by Dangote Refinery. The fair market pricing enabled by the government’s deregulation of the downstream sector has further allowed room for PMS imports.
Regulatory Oversight:
Marketers with approved licenses are authorized to import PMS, provided the fuel passes through stringent quality checks. These include tests at the product’s origin, upon arrival at Nigerian ports, and before the products are distributed to the market.
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) continues to monitor and enforce these standards, ensuring the imported fuel meets the required specifications before it reaches consumers.
In a bid to enhance fuel supply across Nigeria, petrol marketers have imported approximately 123.4 million litres of Premium Motor Spirit (PMS), according to findings from seaports. The shipments, spread across four vessels, arrived between Friday, October 18, and Sunday, October 20, 2024, docking at ports in Lagos and Calabar. This marks a significant effort to stabilize fuel availability amidst increasing demands and challenges faced by local refineries.
The recent import comes after industry stakeholders raised concerns that the Dangote Petroleum Refinery—which was expected to produce 25 million litres of petrol daily—was currently delivering only 10 million litres. The import supplements the local production from the $20 billion Lekki-based refinery.
Import Details:
• Ports Involved: Apapa port (Lagos) and Calabar port (Cross River State).
• First Shipment: 35,000 metric tonnes of PMS berthed at Apapa on October 18.
• Subsequent Shipments:
• 37,000 metric tonnes at Apapa.
• Two additional vessels bringing in a total of 20,000 metric tonnes at Apapa and Calabar.
The total shipment, converted to litres using a standard rate of 1,341 litres per metric tonne, brought in the equivalent of 123.4 million litres of petrol.
This activity aligns with recent moves in September, where 141 million litres were imported following price increases by Dangote Refinery. The fair market pricing enabled by the government’s deregulation of the downstream sector has further allowed room for PMS imports.
Regulatory Oversight:
Marketers with approved licenses are authorized to import PMS, provided the fuel passes through stringent quality checks. These include tests at the product’s origin, upon arrival at Nigerian ports, and before the products are distributed to the market.
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) continues to monitor and enforce these standards, ensuring the imported fuel meets the required specifications before it reaches consumers.