Petrol imports jump 97% as consumption drops in March

By Abubakar Yunusa

Nigeria’s importation of Premium Motor Spirit surged by 96.7 per cent in March 2026, despite a notable increase in domestic supply, fresh data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority has shown.
The latest figures point to a shifting landscape in the downstream petroleum sector, where rising imports are occurring alongside improvements in local refining capacity.
Details contained in the regulator’s March fact sheet revealed that petrol import volumes rose sharply from 3.0 million litres per day in February to 5.9 million litres per day in March.
Domestic supply also recorded growth, increasing from 30.5 million litres per day to 34.2 million litres per day within the same period.
Consequently, total daily petrol supply edged up slightly from 39.5 million litres to 40.1 million litres.
However, in a surprising twist, petrol consumption dropped significantly from 56.9 million litres per day in February to 47.3 million litres per day in March.
Despite the spike in imports, domestic supply remained the dominant contributor to total fuel availability across the country.
Findings further showed that the sector is undergoing a series of policy and structural adjustments aimed at stabilising supply while boosting local production.
The regulator had earlier restricted the issuance of petrol import licences in a bid to encourage domestic refining, following increased output from the Dangote Petroleum Refinery.
However, the licences were later reinstated to avert potential shortages during the transition period.
The moves highlight ongoing efforts by authorities to strike a balance between strengthening local refining capacity and ensuring short-term energy security.