ICIR NIGERIA
NIGERIA’s imports of gasoline is on course for an eight-year low, dropping to 110,000 barrels a day between January 1-24, 2025.
Data compiled by Bloomberg from analytics firm Vortexa show this on Wednesday, January 29.
It attributed the drop in petrol importation into the country to the ramp-up of petroleum production from the Dangote Refinery.
“Shipments into the country stood at about 110,000 barrels-a-day during Jan. 1-24, data compiled by Bloomberg from analytics firm Vortexa show.
“If that rate were to continue for the rest of the month, the country’s imports—most of which come from Europe—would hit their lowest since 2017,” it said.
The 650,000 nameplate refinery started the production of premium motor spirit (PMS), otherwise known as petrol, in September 2024, after months of delay in coming on stream, arising from regulatory bottlenecks and securing crude oil from the state-owned oil firm, the Nigerian National Petroleum Company Limited (NNPCL).
The data further indicated that the country’s new mega-refinery is pushing out foreign suppliers, boosting the African nation’s fuel independence…
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