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The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has reported a 59.5 percent increase in petrol imports in May after several months of decline.
In its latest Midstream and Downstream Petroleum Statistics released on Thursday, the regulator said crude oil supplied to domestic refineries dropped by 5.6 per cent during the period under review. Supply fell from 612,000 barrels per day in April to 578,000 barrels per day in May.
Despite the decline in crude feedstock, total petrol (PMS) availability in the country rose by 6.8 per cent month-on-month. Daily supply increased from 44.4 million litres in April to 47.4 million litres in May.
The report showed that domestic refineries accounted for the bulk of the supply in May, contributing 41.5 million litres per day, while imported petrol accounted for 5.9 million litres per day.
“Crude oil supplied to domestic refineries declined by 5.6 per cent in May, falling from 612,000 barrels per day in April to 578,000 barrels per day. Total petrol supply increased by 6.8 per cent month-on-month, rising from 44.4 million litres per day in April to 47.4 million litres per day,” the report stated.
It further noted that locally refined petrol rose slightly, by 2 per cent, from 40.7 million litres per day in April to 41.5 million litres per day in May. In contrast, imported volumes surged by 59.5 per cent, rising from 3.7 million litres per day to 5.9 million litres per day over the same period.
The NMDPRA also provided a broader overview of supply trends in previous months. In January, total daily petrol supply stood at 64.9 million litres, with domestic refineries producing 40.1 million litres and imports contributing 24.8 million litres.
By February, imports dropped sharply to about three million litres per day as local refining activity increased, with domestic output recorded at 29.4 million litres per day. Total supply for that month stood at 32.4 million litres daily.
In March, imported petrol rose again to 5.9 million litres per day, while local refineries supplied 34.2 million litres per day, bringing total availability to 40.1 million litres per day.
The upward trajectory in domestic supply continued into April, with local refineries delivering 40.7 million litres per day, compared with imports of 3.7 million litres. Overall supply that month increased to 44.4 million litres per day.
