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Nigeria’s petrol imports hit eight-year low amid refining expansion

Nigeria’s petrol imports fell to their lowest level in eight years in September, according to a new report, as ongoing government reforms and growing local refining capacity reshape the country’s downstream oil sector.

Argus reported on Monday that Nigeria imported 116,000 barrels per day—about 18.44 million litres—of Premium Motor Spirit by sea last month, down from 154,000 barrels per day (24.49 million litres) in August, marking the lowest figure since Kpler began tracking the data in 2017.

The decline persisted despite reduced operations at the 650,000-barrel-per-day Dangote Refinery, which has been affected by ongoing maintenance work and a recent industrial action by the Petroleum and Natural Gas Senior Staff Association of Nigeria.

This decline occurred even as the Dangote Refinery undertook maintenance on its gasoline-producing Residual Fluid Catalytic Cracking unit, faced brief union-related disruptions, and operated with limited crude oil supplies during the period.

The report read, “Nigerian gasoline imports in September again scraped at least eight-year lows, even with the country’s 650,000-barrel-per-day Dangote refinery undergoing maintenance and facing industrial action.

“The country received 116,000 barrels per day of seaborne gasoline last month, down from 154,000 barrels per day in August, the lowest on Kpler records that began in 2017.”

The report further revealed that net gasoline imports fell to a record low of 38,000 barrels per day in September, following notable cargo loadings from the Dangote Refinery destined for New York Harbour.

Total gasoline exports from Nigeria, meanwhile, reached 77,000 barrels per day—the second-highest level on record.

The report also noted that Dangote’s Residual Fluid Catalytic Cracking (RFCC) unit was taken offline on September 2 for maintenance, with market participants indicating it was expected to resume full operations in early October.

Later in the month, a dispute between the refinery and the PENGASSAN triggered a two-day strike that disrupted natural gas and crude supplies but was resolved at the beginning of October.

Argus data further showed that crude oil deliveries to the refinery declined to 375,000 barrels per day in September, down from 440,000 barrels per day in August.