Nigeria will continue to depend on imported petroleum products in the short term despite the appointment of new leaders and board members in key oil and gas regulatory agencies, according to industry data and stakeholder views.
This situation unfolds amid growing tension between local refiners, fuel marketers and the Federal Government over pricing, supply and regulation. Concerns also persist over delays in issuing new import permits by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
Data from domestic regulators and international sources show that Nigeria and other West African countries imported over 1.8 million metric tonnes of Premium Motor Spirit (PMS) in November and December last year, the highest volume recorded within a 12-month period. In November alone, imported fuel accounted for about 73 per cent of Nigeria’s petrol consumption, underscoring continued reliance on foreign supply.
Despite a reduction in ex-refinery price to N699 per litre by the Dangote Refinery, pump prices remain above N800 per litre nationwide.
In Abuja, petrol sold between N739 and N920 per litre, with most marketers maintaining higher price bands.
Also Read: Fuel Imports Could Push Petrol to N1,400 per Litre – Dangote Refinery
Members of MEMAN, DAPMAN and IPMAN largely resisted price reductions, while only a few outlets adjusted downward.
Figures from S&P Global Commodities at Sea indicate that most of the imported gasoline originated from Northwest Europe. Analysts say ample supply, lower international prices and local price cuts contributed to recent declines in regional gasoline prices.
Following disputes involving the Dangote Refinery, President Bola Tinubu approved the appointment of new heads for the NMDPRA and the Nigerian Upstream Petroleum Regulatory Commission, alongside new board members.
Presidency sources said the removal of former regulators was politically driven and linked to poor communication and weak data transparency.
Industry experts warn that structural challenges such as low refining capacity, logistics gaps and regulatory inefficiencies will continue to force Nigeria to rely on imports.
Records from the NMDPRA, CITAC and S&P Global show that at least 179 vessels discharged petroleum products into Nigeria between November 2 and November 30, highlighting the scale of continued importation.
