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Petrol tops Nigeria’s imports with 613.6m litres in one year

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Nigerians consumed a total of 613.62 million litres of Premium Motor Spirit, popularly known as petrol, for transportation, power generation, and other domestic uses between October 2024 and October 10, 2025.

This is according to fresh data obtained from the Nigerian Midstream and Downstream Petroleum Regulatory Authority obtained by our correspondent on Monday in Abuja.

Despite the ramp-up in operations at the Dangote Petroleum Refinery and other local plants, imported petrol still accounted for a larger share of the country’s total fuel supply during the period under review.

Out of the total 613.62 million litres of Premium Motor Spirit consumed between October 2024 and October 10, 2025, the NMDPRA data revealed that 236.08 million litres were supplied by domestic refineries, while 377.54 million litres came through imports.

The figures indicate that imported petrol still accounted for the bulk of Nigeria’s fuel needs within the period, with imports dominating supply, contributing about 63 per cent of Nigeria’s PMS needs.

While local refineries, led by the 650,000-barrels-per-day Dangote Refinery, provided the remaining 37 per cent, marking a significant improvement from the previous year’s levels.

The NMDPRA data further indicated that domestic production rose steadily from 9.62 million litres per day in October 2024 to 18.93 million litres per day by October 2025, showing a near 100 per cent increase within the one-year period.

Conversely, import volumes declined sharply from 46.38 million litres per day in October 2024 to 15.11 million litres per day in October 2025, reflecting a 67 per cent drop.

A monthly breakdown of the data revealed a steady decline in petrol importation and a gradual rise in local supply. Import volumes dropped from 46.38 million litres in October 2024 to 36.39 million litres in November and 38.90 million litres in December.

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By January 2025, import figures had fallen further to 24.15 million litres, and though there were slight fluctuations in subsequent months – 26.79 million litres in February, 25.19 million litres in March, and 23.73 million litres in April – imports rebounded temporarily to 37.37 million litres in May.

Thereafter, volumes declined again, with 28.54 million litres imported in June, 35.07 million litres in July, 20.66 million litres in August, 19.26 million litres in September, and a year-low of 15.11 million litres as of October 10, 2025.

In contrast, domestic refining output showed notable improvement within the same period, rising from 9.62 million litres in October 2024 to 19.36 million litres in November and 13.13 million litres in December.

The upward trend continued into 2025, with local supply climbing to 22.66 million litres in January and 22.42 million litres in February and maintaining over 20 million litres in both March (20.65 million litres) and April (20.35 million litres).

Though there were minor dips to 17.85 million litres in May, 17.82 million litres in June, and 16.50 million litres in July, output surged again to 21.19 million litres in August before stabilising at 18.93 million litres in October 2025.

The figures reflect a gradual but significant shift in Nigeria’s fuel supply structure, with local refineries, particularly the Dangote Petroleum Refinery, steadily closing the gap on imports within just one year of operation.

The document further showed that total petrol supply averaged 46.6 million litres per day, comprising 29.5 million litres from imports and about 17.1 million litres from local production.

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The reduction in petrol imports has also eased pressure on Nigeria’s foreign reserves, as the country spends less on importing refined products. Previously, importers required billions of dollars monthly to settle letters of credit and cover freight and insurance costs.

However, the report noted fluctuations in overall supply, with volumes dipping from 55.21 million litres in May 2025 to 34.04 million litres in October 2025, a sign that logistical constraints and periodic maintenance still affect consistent nationwide distribution.

Oil and gas analysts say the improvement coincides with the first full year of operations of the Dangote Refinery, which began large-scale production earlier in 2025 and now contributes between 15 and 20 million litres of PMS daily to the domestic market.

Since its commissioning in May 2023 and subsequent ramp-up through 2024, the Dangote Refinery has been under global scrutiny as the flagship of Nigeria’s industrial revival agenda.

In its first year of sustained operation, the refinery’s growing output has reshaped Nigeria’s fuel supply structure, reduced foreign exchange exposure, and rekindled confidence in local refining after decades of failed turnarounds at the government-owned Port Harcourt, Warri, and Kaduna refineries.

Commenting, the Chief Executive Officer of Petroleum.ng, Olatide Jeremiah, said that Nigeria’s domestic refining capacity has recorded remarkable progress in the past year, with the Dangote Refinery now supplying about 40 per cent of the country’s daily petrol consumption.

Speaking in reaction to new supply data released by the NMDPRA, the analyst said the progress underscores the growing impact of local refineries on Nigeria’s energy security.

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He, however, stressed that the Dangote Refinery and other local refiners require uninterrupted access to crude oil in naira to scale up production and reduce pump prices nationwide.

“The fact that import remains the country’s major source of refined products shows that there are still unresolved issues. In the last year, domestic supply championed by Dangote Refinery has made tremendous progress with about 40 per cent of our daily consumption. Dangote Refinery needs 100 per cent access to crude in naira to increase domestic supply and drive down prices at the pump,” he said.

He lamented that despite being Africa’s biggest crude oil producer and host to the continent’s largest refinery, Nigeria still imports about 60 per cent of its daily petrol needs, a situation he described as inconsistent with the country’s energy potential.

The Petroleum.ng chief urged the Federal Government and the Nigerian Upstream Petroleum Regulatory Commission to strengthen policies that guarantee local refineries full access to domestic crude supply.

“Nigeria, the biggest producer of crude in Africa with the biggest refinery in Africa, should not be importing about 60% of its daily fuel consumption; thus, our pump prices should be amongst the lowest in the world.

The FG, through NUPRC, should continue to formulate frameworks that would allow local refiners access to crude 100 per cent. For me, that’s the recipe for availability and affordability,” he added.

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X offers changes to blue checkmarks after $138m EU fine

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Elon Musk’s X has offered to make changes to its blue checkmark for “verified” accounts, a European Commission spokesman said Friday, after the platform received a 120-million-euro ($138 million) fine.

The European Union slapped the fine in December on X for breaking its digital rules, including through the “deceptive design” of its blue checkmark.

“X has submitted remedies in relation to its blue checkmark. The commission will now carefully assess the proposed remedies,” EU spokesman for digital affairs Thomas Regnier said.

He did not provide details about what X had submitted.

X risked periodic financial penalties had it not submitted any remedy.

“We have to value the fact that after a constructive exchange with the company, the company has taken its obligation seriously and has submitted us remedies,” Regnier told reporters in Brussels.

When contacted by AFP, X did not provide comment immediately.

Blue checkmarks, long free of charge at what was previously known as Twitter, were intended to signal the identity of certain users — such as celebrities, journalists and politicians — had been verified in an effort to build trust in the platform.

But after Musk bought the platform, he allowed users to pay to get one.

X in February announced it had filed an appeal with the EU’s top court against the fine, which was the first ever under the bloc’s Digital Services Act (DSA).

But Regnier said the commission still expected X to pay it by Monday, and to provide further remedies on other breaches by April 28.

The fine came under a probe started in December 2023.

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That investigation continues as EU regulators study how X tackles the spread of illegal content and information manipulation.

X has often been in the EU’s sights.

The 27-nation bloc in January began another DSA probe into the company’s AI chatbot Grok’s generation of sexualised deepfake images of women and minors after a global outcry.

AFP

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Akwa Ibom to drive large-scale farming with equipment leasing firm

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Akwa Ibom State Government has said it will soon inaugurate its Agric Equipment Leasing Company as part of efforts to promote large-scale mechanised farming in the state.

Governor Umo Eno disclosed this while fielding questions from Government House correspondents shortly after inspecting the progress of work at the company’s facility located at Ekpri Nsukara in Uyo on Thursday.

In a statement obtained from the Government House Press Unit on Friday, the governor commended the contractor for the progress recorded at the project site.

“There is a lot of improvement in the work done here to get the company kick-started in earnest.

“The contractor has given her word that the project will soon be inaugurated, and I hold her to that,” he said.

Eno explained that the essence of the project is to encourage farmers to embrace large-scale farming in order to boost productivity, increase earnings and ensure food sufficiency in the state.

“The farming season is here again, and we are putting everything in place for this project to function optimally. There are over 25 tractors with tracking devices and two low-bed trucks in readiness for the agriculture programme.

“What we intend to do here is to lease these equipment to our farmers across the state at subsidised rates so that they can utilise it for improved farming productivity.

“These farming equipment range from ploughs to harvesters and other implements that will help improve farming output,” he said.

The governor noted that the initiative forms part of his administration’s strategy to mechanise farming methods in the state in order to achieve large-scale crop production and increase farmers’ profits.

See also  World Bank dismisses Nigeria’s single-digit inflation target

Speaking on the government’s tree-crop revolution programme, Eno assured that the initiative would commence once the rainy season sets in, noting that such crops thrive better during the rainy season.

“The nursery for palm seedlings has already been established, and the necessary enumeration of farmers has been conducted across the state.

“Within the next two weeks, the seedlings will be distributed to farmers for planting across the state,” he added.

The governor urged farmers to take advantage of the various agricultural programmes introduced by the government to enhance large-scale farming output and improve economic growth in the state.

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Forum dismisses claims of N210tn missing in NNPC accounts

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A coalition of professionals under the Ajiyya Solidarity Forum has dismissed allegations that about N210tn is missing from the accounts of the Nigerian National Petroleum Company Limited (NNPC).

Addressing journalists on Thursday, ASF National Coordinator, Usman Hamza, described the claim as “mathematically impossible” and politically motivated.

The group’s position is in response to a recent claim by the Chairman of the Senate Public Accounts Committee, Ahmed Wadada, that the NNPC Limited could not account for about N210tn.
Hamza said such a figure was misleading.

“Senator Wadada’s claim of N210tn ‘unaccounted for’ funds is a mathematical impossibility designed to shock the public,” Hamza said.

He argued that the claim did not align with Nigeria’s fiscal reality, noting that the country’s entire 2024 national budget stood at about N28.7tn.

“To suggest that a single entity ‘lost’ nearly eight times the national budget is an insult to the intelligence of Nigerians,” he added.

The forum also condemned threats of arrest warrants against former officials of NNPCL, including former Chief Financial Officer, Umar Ajiya, describing the move as part of a coordinated campaign of political blackmail.

According to the group, the Senate committee may have misinterpreted financial figures by combining accrued expenses and receivables in a way that falsely suggests missing funds.

“We consider that the committee has erroneously ‘netted’ N103tn in accrued expenses, largely joint venture liabilities, with N107tn in receivables owed to NNPCL. Labelling money owed to a company as ‘missing funds’ is a professional travesty,” Hamza stated.

During the ongoing review of the financial records of Nigerian National Petroleum Company Limited, the Senate Public Accounts Committee, chaired by Wadada, had raised concerns over alleged discrepancies running into trillions of naira.

The ASF maintained that the allegations ignored the broader financial and structural reforms undertaken by the national oil company in recent years.

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Furthermore, Hamza mentioned that the tenure of former CFO Ajiya coincided with the transition of the national oil firm into a commercial entity under the Petroleum Industry Act, a reform that ended decades of opaque financial reporting.

“Mr Ajiya’s tenure saw the transition of NNPC into a commercially driven entity and the publication of the first audited financial statements in 43 years,” the forum stated.

ASF defended the N5.9bn cost incurred during the transition process of NNPC to NNPC Limited, saying it covered complex legal and structural reforms required to transform the former state corporation into a limited liability company.

The forum warned that politicising the Senate’s oversight role could damage Nigeria’s credibility in the eyes of international investors.

“Using the Senate’s hallowed chambers to pursue personal vendettas damages Nigeria’s reputation with international investors,” Hamza said.

The forum further called on the leadership of the Senate to institute an independent ethics investigation into what it described as an alleged demand for bribes linked to the ongoing oversight process.

“We call on the Senate leadership and its Ethics Committee to investigate the alleged bribe demand connected to this oversight exercise,” he said.

He urged lawmakers to stop what he described as the harassment of officials who have already submitted several technical responses to the committee.

“Public accountability should be pursued through a sober forensic review of facts, not through sensational claims and phantom numbers,” he added.

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