Dangote Refinery Supplies 71% of Nigeria Petrol as Consumption Falls 14%

Nigeria's domestic petrol receipts jumped 39% to 35.9 million litres per day in August, pushing the Dangote Petroleum Refinery's share of total supply to 71%, according to the NMDPRA's monthly factsheet released Thursday. Over the same period, petrol imports fell 26% to 14.6 million litres daily, meaning domestic output exceeded imports by 21.3 million litres per day.

Total petrol receipts rose 11% to 50.5 million litres per day, yet average daily consumption declined 14% to 41.5 million litres. The Whistler reported a 17% drop against a 50 million-litre benchmark, attributing the fall to successive pump price increases.

“Domestic PMS receipts exceeded petrol imports by 21.3 million litres per day in August.”

Dangote's gantry price rose from N1,165 per litre on August 21 to N1,350 by September 12, a 15.9% increase in 22 days. The refinery produced 41.94 million litres daily in August, supplying 35.87 million litres domestically and exporting 9.73 million litres, while closing the month with 360.4 million litres in stock.

Petrol stock sufficiency stood at 22.9 days, 7.1 days below the 30-day national benchmark. Only LPG joined petrol below the threshold at 17.2 days, while diesel and aviation fuel recorded 51.6 and 82.3 days of sufficiency respectively.