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Gasoline imported in eight months increased from 44.6 million per day in August 2024 to 14.7 million liters on April 13, 2025.
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Marketers attribute the decline to foreign exchange scarcity and price volatility, not just improving local refining.
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Local supply has increased due to the reboot of the port refinery and increased output from the modular and Dangot refinery.
Oil marketers say the sharp decline in Nigeria’s gasoline imports is mainly due to limited opportunities for foreign exchange and unstable prices in local and international markets.
Data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) show that petrol imports dropped from 44.6 million litres per day in August 2024 to 14.7 million litres as of April 13, 2025. The NMDPRA CEO, Farouk Ahmed, said this drop has been balanced by a 670% rise in local supply, supported by the resumption of operations at the Port Harcourt modular refinery and outputs.
Also read: National fuel scarcity is imminent, because Ipman
But, stakeholders say the shift is not driven only by domestic production rather than just economic reality. “Marketers are no longer introducing products due to certain transaction factors,” said Ipman’s Chinedu Ukadike.
“We must now consider international and domestic pricing dynamics to avoid huge losses.” Dr. Billy Gillis-Harry of Petroan also noted that forex scarcity is a major limitation: “If access to forex is limited, then that’s it.” Industry analyst Olatide Jeremiah added that more marketers are now sourced directly from Dangote refineries, whose prices are increasingly affecting the entire supply chain.
