Despite Operations of Dangote, PH, Warri Refineries, NNPC Imported 136m Litres of Petrol in One Day
- Oil marketers have continued to import petrol into the country despite earlier agreement to patronise local refineries
- Documents on motor tanker vessels, obtained from the NNPC revealed that petrol importation by marketers has persisted
- The data collected showed that with the current landing cost at N925 per litre, NNPCL would have spent about N126.52 billion on this import
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Legit.ng journalist Victor Enengedi has over a decade's experience covering Energy, MSMEs, Technology, Banking and the Economy.
The Nigerian National Petroleum Company Limited (NNPCL) brought in 136.7 million litres of petrol in a single day as the country continues to rely on imported fuel.
A document seen by Daily Trust showed that the fuel arrived in Nigeria on Monday, February 10.
Meanwhile, checks on Tuesday revealed that petrol prices dropped slightly at some filling stations in Lagos, with some selling for as low as N925 per litre.
Source: UGC
Despite the government’s efforts to boost local fuel production through the reopened refineries in Port Harcourt and Warri, as well as private facilities like the $20 billion Dangote Refinery, large-scale fuel imports have not stopped.
In December 2024, NNPCL announced that the Warri Refinery, which has a capacity of 125,000 barrels per day, had restarted operations. This came weeks after the Port Harcourt Refinery was also said to have resumed production after being inactive for years.
A report on motor tanker vessels, reviewed by Daily Trust, showed that NNPCL spent over N126.5 billion to import more than 136.7 million litres of petrol in one day.
The report, which tracks fuel shipments entering the country, revealed that NNPCL imported 102,000 metric tonnes of petrol on February 10, which is about 136.78 million litres.
The fuel was brought in through Lagos ports. According to the document, 37,000 metric tonnes arrived via the Kriti Bay and Kouris ships at the ASPM terminal, while another 28,000 metric tonnes were delivered by the Hapnia Andre ship at the PWA/BOP/NOJ terminal.
With the current landing cost at N925 per litre, NNPCL would have spent about N126.52 billion on this import, even though the Port Harcourt and Warri refineries were reportedly back in operation.
Some industry experts and stakeholders believe Nigeria should not be importing such large amounts of fuel if the government refineries are truly functioning.
Energy expert Dr. Ayodele Oni said that with the recent progress in local refining, especially with the Dangote, Port Harcourt, and Warri refineries either operating or close to starting operations, the current level of fuel imports raises questions.
He said:
“Regarding Port Harcourt and Warri, the official announcement about the kickoff of operations at Port Harcourt (210,000 barrels per day) and Warri (125,000 barrels per day) promised a combined 335,000 barrels daily output. Yet, their operational efficiency seems troubled."
Ayodele however admitted that despite having three refineries, operational challenges, crude supply issues, and market factors continue to limit their effectiveness, forcing the Dangote Refinery to temporarily import crude.
NNPC gives update on Kaduna Refinery
In related news, Legit.ng reported that the NNPC Limited announced that the Kaduna refinery is about 60% completed.
The NNPC vice president (Downstream) Isiyaku Abdullahi disclosed this, saying that the company is working on the pipelines.
He asked Nigerians to get ready to purchase NNPC shares as the company will announce its Initial Public Offering (IPO) soon.
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Source: Legit.ng
