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Dangote now supplies 92% of petrol as FG pauses imports

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The Dangote Petroleum Refinery accounted for about 92 per cent of Nigeria’s daily petrol supply in February, as the Federal Government has paused the importation of Premium Motor Spirit (petrol).

This came as filling stations on Tuesday retained petrol prices at above N1200 per litre despite a N100 reduction in the gantry price by the Dangote refinery.

Multiple sources at the Nigerian Midstream and Downstream Petroleum Regulatory Authority and among major fuel-importing companies confirmed to The PUNCH on Tuesday that no licences had been issued for fuel imports this year.

According to sources at the NMDPRA, the country does not need to import petrol now, as local refining can meet the country’s daily fuel needs.

“It’s correct that we’ve not issued import licences this year. It is obvious that the local production has met national requirements. So, there’s no need for importation,” an impeccable source at the NMDPRA, who spoke to one of our correspondents in confidence due to the lack of authorisation to speak on the matter, stated.

Figures released in the February 2026 fact sheet by the NMDPRA show that local refineries supplied 36.5 million litres per day of petrol in February 2026, while imports contributed just three million litres per day.

This brought the total national daily supply for February to 39.5 million litres, with domestic refining accounting for roughly 92 per cent of the volume, a sharp shift from the long-standing dependence on imported fuel. The data indicates a drastic drop in imports compared with the previous month.

Currently, the Dangote refinery is the only plant that produces petrol, as other modular refineries basically refine crude for the production of Automotive Gas Oil (diesel).

In January 2026, petrol imports by oil marketing companies and the Nigerian National Petroleum Company Limited averaged 24.8 million litres per day, while domestic refineries supplied 40.1 million litres per day, pushing total daily supply to 64.9 million litres.

The NMDPRA noted that the sharp reduction in imports caused overall supply to decline significantly in February. The regulator’s report stated, “PMS supply in February 2026 reduced by 25.4 million litres per day due to a significant drop in imports.”

The trend signals a major restructuring of Nigeria’s fuel supply chain, with local refining—particularly output from the Dangote facility—beginning to dominate the market.

Earlier data in the fact sheet show that imports historically accounted for a substantial portion of the petrol supply in Nigeria. For instance, in December 2025, imports averaged 42.2 million litres per day, compared with 32.0 million litres per day from domestic refineries, resulting in a total daily supply of 74.2 million litres.

In the early months of 2025, total daily supply hovered between 43.7 million litres in January and 57.1 million litres in May, with domestic refineries contributing a modest 18 to 25 million litres per day, representing about 32 to 47 per cent of the market.

Imports filled the gap, peaking at 38.6 million litres per day in May 2025 as demand pressures mounted. September 2025 recorded the lowest total supply of 39.7 million litres. Dangote supplied 17.6 million litres daily, while 22.1 million litres were imported each day. The NMDPRA said there was a low petrol supply in September, prompting the granting of licences for importation.

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However, a recovery began in October with a total of 46 million litres per day, out of which Dangote supplied just 17.1 million litres daily. November 2025 recorded huge petrol imports. Total supply jumped to 71.5 million litres per day, driven largely by a surge in imports to 52.1 million litres per day – the highest import volume in the dataset. The Dangote refinery domestically supplied a paltry 19.5 million litres per day in the 11th month.

Dissatisfied, the President of the Dangote Group, Aliko Dangote, accused the former Chief Executive of the NMDPRA, Farouk Ahmed, of economic sabotage, saying he issued “reckless” licences even while his tanks were full.

By December 2025, the Dangote refinery’s influence became evident: domestic supply doubled to 32 million litres per day, pushing the total to a peak of 74.2 million litres per day, even as imports eased slightly to 42.2 million litres per day.

However, the steady ramp-up of local refining capacity has begun to reverse that trend. The January and February figures showed that the Dangote refinery has overtaken importers to dominate the petrol market, especially under the new leadership of the NMDPRA.

The surge in domestic supply in late 2025 and early 2026 is significantly reducing Nigeria’s reliance on imported petrol. While many stakeholders said the development could reshape the downstream sector by reducing foreign exchange demand for fuel imports and altering the role of traditional fuel importers, some feared that it could promote monopolistic tendencies.

But the Dangote refinery said it had hit its full capacity of 650,000 barrels per day, supplying over 50 million litres of petrol to the domestic market daily.

However, an operator, who sought anonymity due to the sensitive nature of his position, expressed concern over the development, saying Nigerians may be at the receiving end.

“The NMDPRA has not issued any licence for petrol imports this year. Dangote is gradually enjoying a monopoly in the downstream, and we all know that this is not healthy for any sector.

“The price of imported petrol was lower than the locally produced petrol from the refinery, and this was captured by MEMAN in their last report. This tells you that it won’t be right to allow a monopoly in the downstream. It won’t be in the interest of the country.”

Amid the ongoing tension in the Middle East and its attendant fuel price hikes, Dangote assured Nigerians of a sufficient fuel supply.

The February data showed that the country’s average daily supply of petrol dropped to 39.5 million litres per day, down from 64.9 million litres per day in January 2026, due to a lack of imports. The figures indicate a decline of 25.4 million litres per day, representing a 39.1 per cent drop month-on-month.

NMDPRA said oil marketers imported an average of three million litres of petrol per day in February, amounting to 84 million litres for the 28-day period, compared with an average daily supply of 36.5 million litres from domestic refineries, which translated to about 1.022 billion litres within the same period.

A breakdown of the statistics shows that PMS imports plunged from about 24.8 million litres per day in January to just 3.0 million litres per day in February, representing a drop of 21.8 million litres daily or about 87.9 per cent.

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N1,200 petrol price

The Dangote refinery on Tuesday slashed its petrol gantry price by N100, from N1,175 to N1,075 per litre, but filling stations refused to slash their pump prices. Despite the N100 reduction, prices have yet to drop at filling stations as of the time of filing this report.

On Tuesday evening, many filling stations still sold petrol between N1,200 and N1,250 per litre in Ogun and Lagos states. Also, petrol prices at several retail outlets in the Federal Capital Territory remained unchanged as of Tuesday evening.

Findings from a price survey conducted by one of our correspondents at filling stations along Airport Road in Abuja showed that many marketers were still dispensing petrol at rates above N1,250 per litre, with some stations selling as high as N1,330 per litre.

At Shafa Filling Station and AA Rano, petrol was dispensed at N1,330 per litre, while Afdin sold the product at N1,310 per litre. Similarly, Shema offered petrol at N1,300 per litre, while NIPCO sold the product at N1,285 per litre.

Other stations such as Bovas and Optima dispensed petrol at N1,270 per litre, although Optima recently reduced its price from N1,330 per litre following the refinery’s gantry price adjustment.

Matrix Energy continued to sell petrol at N1,330 per litre, one of the highest rates recorded during the survey. Dangote’s price reduction followed a slump in the global oil prices as Brent dropped below $90 per barrel, down from over $100 earlier on Monday.

The Dangote refinery has reportedly blamed global crude for the repeated price hikes occasioned by the US-Iran war. Since last week, the Dangote refinery has hiked the petrol gantry price three times, forcing petrol pump prices to jump from around N820 to N1,300 on Monday.

In a statement, the refinery said, “Under the revised pricing structure, the gantry price of PMS has been reduced from N1,175 to N1,075 (N100) per litre, while the coastal price has been lowered from N1,150 to N1,028 (N122) per litre. The price of diesel has also been reduced from N1,620 to N1,430 (N190) per litre.”

The company said the decision was intended to assure Nigerians that the pricing mechanism remains responsive to global market dynamics and indicative of its fair pricing system.

“As responsible corporate citizens operating in a high-governance code and ethical environment, we believe it is imperative to reduce the price of our products as a reflection of the decline in global crude oil prices. All our crudes are priced on the global benchmark price plus a $3 to $6 additional premium.

“Our forex is paid at the prevailing market rate of the day with no subsidy in either crude or forex. For the avoidance of doubt, the crude supplied under the Naira-for-Crude arrangement is priced according to the global benchmark price plus a premium, which is then converted to naira using the prevailing market exchange rate,” it explained.

Amid complaints by Nigerians, the refinery recalled that in 2025, it reduced the gantry price not less than eight times while increasing it only twice.

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“This is borne out of a sense of economic patriotism and a duty to the people of Nigeria. We affirm our commitment to setting prices of refined products by passing on the benefits to all Nigerians across the 36 states of the federation and the Federal Capital Territory,” the statement added, noting that the refinery is fully committed to strengthening national energy security while remaining mindful of the economic realities faced by Nigerians.

According to oilprice.com, Brent oil prices witnessed a dramatic reversal on Tuesday, plunging nearly 27 per cent from the previous day’s high of $119 per barrel to as low as $87 per barrel.

Earlier, the Independent Petroleum Marketers Association of Nigeria said the surge was temporary, saying prices would normalise immediately when the war ends. “The price of fuel would come down once Brent crude comes down immediately after the war,” IPMAN spokesman Chinedu Ukadike said.

Reuters reports that oil prices plunged over 13 per cent on Tuesday after soaring to their highest levels since 2022 in the previous session after US President Donald Trump predicted the war with Iran could end soon, lowering expectations of prolonged oil supply disruptions.

Brent futures fell $12.46, or 12.6%, to $86.50 a barrel at noon, while US West Texas Intermediate crude fell $12.24, or 12.9%, to $82.53.

Both crude benchmarks surged to more than $119 a barrel on Monday to their highest since June 2022 as supply cuts by Saudi Arabia and other producers stoked fears of major disruptions to global supplies. This prompted Dangote to hike the petrol price to N1,175.

Oil prices later retreated late on Monday and so far on Tuesday after Trump and Russian President Vladimir Putin reportedly had a call and shared proposals aimed at a quick settlement to the war.

In a statement on Tuesday, the Executive Director of the International Energy Agency, Fatih Birol, said he hosted a meeting of G7 Energy Ministers in Paris. The meeting was chaired by Minister Roland Lescure of France, who holds the G7 presidency.

At the meeting, Birol provided an update on the IEA’s view of the situation in global oil and gas markets, which have been significantly affected by the conflict in the Middle East.

“In oil markets, conditions have deteriorated in recent days. In addition to the challenges of transit through the Strait of Hormuz, a substantial amount of oil production has been curtailed. This is creating significant and growing risks for the market.

“We discussed all the available options, including making IEA emergency oil stocks available to the market. IEA member countries currently hold over 1.2 billion barrels of public emergency oil stocks, with a further 600 million barrels of industry stocks held under government obligation,” he stated.

Given the conditions in oil markets, he said, IEA members are in close contact about the situation with energy ministers from key energy producers and consumers around the world.

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NAFDAC destroys N8bn products, targets sachet alcohol in N’Central

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The National Agency for Food and Drug Administration and Control (NAFDAC) has confiscated and destroyed unwholesome, banned, fake and adulterated products worth more than N8 billion in the North-Central states.

Speaking during the destruction ceremony on Thursday in Lafia, the Nasarawa State capital, the Director-General of NAFDAC, Prof. Mojisola Adeyeye, said the products were seized from manufacturing outfits, sales outlets, markets and motor parks across the zone.

The DG, who was represented by a Deputy Director of NAFDAC in the zone, Joseph Edor, said most of the confiscated products were banned alcoholic beverages in small volumes of less than 200 ml (20 cl).

According to her, NAFDAC was established by Decree No. 19 of 1993, as amended, with the mandate to protect and promote public health by ensuring that only quality, efficacious and regulated products are manufactured, imported, distributed and sold in Nigeria.

She explained that the agency banned alcoholic beverages in sachets and glass bottles of less than 200ml due to their availability, affordability and portability, which have made them easily abused by youths and underage schoolchildren.

“Research has shown that early exposure to alcohol affects the brain and other vital organs such as the liver and kidneys.

“It stymies the brain, resulting in mental retardation, brain damage, poor performance of pupils in school, low productivity and several types of illnesses,” she said.

The DG said the ban and subsequent raids were based on these abuses, addiction and adverse health effects, while other seized items included expired, fake and unwholesome food, drugs and cosmetics.

“It is in the course of carrying out these activities that this heap of unwholesome, banned, fake and adulterated products worth about eight billion naira was confiscated from manufacturing outfits, sales outlets, markets and motor parks.

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“The bulk of the products in that pile are predominantly banned alcoholic beverages in low volumes of less than 200ml (20cl),” she emphasised.

The Director-General further commended other law enforcement agencies, sister agencies and stakeholders for their continuous collaboration, especially in intelligence sharing and security cover during operations.

Also speaking at the event, the Nasarawa State Coordinator of NAFDAC, Dr Gyani Stephen, explained that the exercise was not targeted at hurting people but was intended to save lives.

He advised those in the habit of selling fake and banned products to desist or be ready to face the full wrath of the law, warning that the agency would come after them if they did not change their ways.

In his goodwill message, the Nasarawa State Commander of the National Drug Law Enforcement Agency, Daniel Saidu, represented by Yakubu Awoh, commended NAFDAC for saving lives through the regular seizure and destruction of expired and fake drugs.

He explained that if these dangerous products were allowed into the markets, they could have destroyed millions of lives and affected the mental health of many others.

Source: punchng.com

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Seven modular refineries to begin operations in 2027, read details

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Nigeria’s modular refining sector is expected to expand next year, with seven new refineries projected to commence operations with a combined capacity of 83,000 barrels per day, according to Argus Media’s George Maher-Bonnett.

Maher-Bonnett disclosed this in Lagos on Wednesday during a presentation at the OTL Africa Downstream conference, where he highlighted the changing dynamics of Nigeria’s petroleum products market amid rising local refining capacity and declining fuel demand.

In his presentation, titled ‘African Energy Outlook’, Maher-Bonnett said four modular refineries operated in Nigeria in September, with a combined capacity of 32,000 barrels per day.

“Four modular refineries operating in September, total 32,000 b/d capacity,” he said.

He added, “Seven new modular refineries to start next year“ with a total of 83,000 barrels per capacity.

The projected additions would represent more than two and a half times the combined capacity of the four modular refineries operating in September, potentially increasing the contribution of smaller refining facilities to Nigeria’s domestic petroleum products supply.

However, the presentation did not identify the seven proposed refineries, their owners or locations, or provide individual capacity figures and commissioning schedules.

Maher-Bonnett also highlighted the growing role of the Dangote Petroleum Refinery in improving Nigeria’s self-sufficiency in petroleum products, despite a decline in fuel demand during the year.

“Nigerian fuels demand is down this year,” the presentation stated, attributing the development to “higher flat prices.”

He added self-sufficiency is improving with Dangote ramp-up, projecting that modular refineries would play a growing role.

The presentation linked the decline in demand to higher prices and noted that the only government intervention during the period covered was an NNPC price reduction.

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“No government interventions, besides NNPC price cut this month,” it stated.

The expected expansion of modular refining capacity comes as Nigeria’s petroleum products market adjusts to increased domestic production and changing international trade flows.

Maher-Bonnett said the Dangote refinery is operating at a high rate, with steady petrol output, reducing the attractiveness of importing some petroleum products from Europe into West Africa.

“Dangote’s 700,000 bpd Lekki refinery is running hard, gasoline output is steady,” the presentation stated.

It also highlighted Ghana’s growing refining capacity, noting that the 45,000-barrel-per-day Tema refinery is ramping up production and improving the country’s self-sufficiency.

According to the presentation, the economics of shipping petroleum products from Europe to West Africa and from Europe to the United States has weakened, with freight costs further affecting the competitiveness of the routes.

Source: punchng.com

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Falana tasks Senate on recovery of $123bn, N66bn oil funds, read details

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Human rights lawyer, Femi Falana, has asked the National Assembly to compel the recovery of $123.17bn in alleged outstanding oil royalties, taxes and dividends, alongside N66.4bn, from the Nigerian National Petroleum Company Limited and other oil and gas companies.

In a letter dated 28 October, 2026, and titled ‘Request to Recover Dividends, Taxes and Royalties Worth $123.17bn and N66.4bn from NNPC and Other Companies and Remit Same to the Federation Account’, Falana urged the National Assembly to ensure that the alleged outstanding revenues were recovered and remitted to the federation account.

He warned that he would institute legal proceedings at the Federal High Court if the authorities failed to initiate measures to recover the funds within 14 days of receiving the letter.

In an acknowledged copy of the letter made available to The PUNCH on Thursday, the senior advocate said the outstanding revenues covered several categories, including $62bn in unpaid oil royalties, $23.1bn in alleged unremitted dividends from Nigeria LNG Limited, $6.071bn in outstanding industry revenues, and claims relating to stolen crude oil and refinery rehabilitation contracts.

The letter also cited a Supreme Court consent judgment delivered on 20 October, 2018, which it said directed the Federal Government to collect outstanding royalties accrued over 18 years under the Deep Offshore and Inland Basin Production Sharing Contracts Act.

According to Falana, the governments of Akwa Ibom, Bayelsa and Rivers states had approached the Supreme Court to compel the Federal Government to enforce the law, which provided for an upward review of royalties when international crude oil prices exceeded $20 per barrel.

He said a committee constituted by the Office of the Attorney-General of the Federation subsequently determined that $62bn in royalties had not been collected from international oil companies.

Falana added that Akwa Ibom and Rivers states later obtained a Federal High Court judgment for a combined $3.3bn, while Bayelsa State secured a separate judgment for $951m over their alleged entitlements from the outstanding royalties.

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He said the Federal Government had yet to comply with the judgments.

The lawyer also called for the recovery of $29bn linked to alleged crude oil theft and undeclared exports, citing investigations by the Nigerian Maritime Administration and Safety Agency and the House of Representatives.

He said lawyers engaged by NIMASA discovered that about 60.2 million barrels of crude oil, valued at $12.7bn, allegedly stolen from Nigeria, were discharged at the Port of Philadelphia in the United States between 2011 and 2014.

According to the letter, the lawyers submitted their findings to the Office of the Attorney-General after which they filed nine civil cases at the Federal High Court in Abuja and Lagos to recover the value of the alleged stolen crude oil and liquefied gas.

Falana further cited a 2016 House of Representatives ad hoc committee investigation, which he said found that $17bn worth of crude oil and liquefied natural gas had been exported from Nigeria without proper records.

He said the committee found that the crude oil was discharged at the ports of Houston and Lake Charles in the United States.

He urged the National Assembly to direct the Economic and Financial Crimes Commission to pursue the recovery of the funds from the companies allegedly involved.

On the NLNG dividends, Falana alleged that NNPC had failed to remit $23.1bn due to the Federal Government from its 49 per cent shareholding in NLNG.

He explained that NLNG, established in 1989, had paid more than $47bn in dividends to its shareholders over 26 years, with the Federal Government’s share paid through NNPC.

The other shareholders listed in the letter are Shell, with 25.6 per cent; TotalEnergies, 15 per cent; and Eni International, 10.4 per cent.

Falana argued that the dividends received by NNPC on behalf of the Federal Government should have been transferred to the Federation Account in accordance with Section 162 of the 1999 Constitution, as amended.

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He added that resolutions of the Senate and the House of Representatives calling for the remittance of the funds had allegedly been ignored.

The senior advocate also called for the recovery of $6.071bn and N66.4bn in outstanding revenues owed by oil and gas companies, citing the Nigerian Extractive Industries Transparency Initiative’s 2022/2023 Independent Oil and Gas Industry Report.

According to him, NEITI disclosed on 27 September, 2024, that the outstanding collectible revenues due to the Federal Government as of June 2024 stood at the stated amounts.

He said copies of the report were forwarded to both chambers of the National Assembly in November 2024 in line with the provisions of the NEITI Act.

Falana urged lawmakers to support NEITI in recovering the outstanding revenues without further delay.

The letter also questioned the outcome of the rehabilitation of the Port Harcourt, Warri and Kaduna refineries, for which the Federal Executive Council approved contracts totalling about $2.98bn in 2021.

It said the government approved $1.5bn for the rehabilitation of the Port Harcourt refineries in April 2021 and another $1.48bn for the Warri and Kaduna refineries in August of the same year.

Falana argued that NNPC announced in December 2024 that the Port Harcourt and Warri refineries had been substantially completed, while work on the Kaduna refinery was almost finished.

However, he cited NNPC’s subsequent announcement that the Warri refinery ceased operations on 25 January, 2025, following safety issues involving its crude distillation unit main heater. He also referred to the shutdown of the Port Harcourt refineries for planned maintenance in May 2025.

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He argued that the contractors had breached the terms of the rehabilitation agreements and called for the recovery of the contract sums.

“In view of the foregoing, we are compelled to request the Office of the Attorney-General to recover the total sum of $123.17bn and N66.4bn owed the Government of the Federation by the Nigerian National Petroleum Corporation Limited, and some oil and gas companies operating in Nigeria,” the letter stated.

Falana said recovering the funds would reduce the Federal Government’s dependence on external borrowing and provide additional revenue for the federation and the states.

He warned that failure to begin recovery measures within 14 days would prompt legal action.

“If you fail to initiate legal measures for the recovery of the aforesaid huge funds belonging to the Government of the Federation within 14 days of the receipt of this letter, we shall not hesitate to file the necessary processes in the Federal High Court with a view to compelling you to discharge the duty of your office,” he wrote.

Falana also defended his firm’s standing to pursue the matter, citing its involvement in drafting and submitting a bill to amend the Deep Offshore and Inland Basin Production Sharing Contracts Act in 2017.

He noted that the bill was adopted and sponsored by a senator, subsequently passing first reading in the Senate before the dissolution of the Eighth National Assembly. According to him, the Ninth National Assembly subsequently adopted and passed the amendment.

He recalled that the then President of the Senate, Ahmad Lawan, had said the amendment would increase the country’s revenue by at least $1.5bn annually.

Source: punchng.com

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