Premium Motor Spirit (PMS) into Nigeria, spanning October 18 to October 20, according to documents from the Nigerian Ports Authority. This move comes as the oil sector continues negotiations with the Dangote Petroleum Refinery to address domestic supply shortfalls.
Four vessels, carrying a combined 92,000 metric tonnes of PMS, docked at ports in Lagos and Calabar. The shipments are aimed at supplementing the supply from the $20 billion Dangote Refinery, which is currently producing 10 million litres of petrol daily, far below its initial promise of 25 million litres per day.
Despite ongoing talks with Dangote, oil marketers are stepping in to bridge the gap in local fuel supply. The largest shipment, containing 35,000 metric tonnes, arrived at Lagos’ ASPM Jetty on October 18, followed by 37,000 metric tonnes later the same day. Smaller shipments, including one at the Eco Marine Terminal in Calabar, contributed to the overall import.
However , the government’s full deregulation of the downstream oil sector has enabled marketers to freely import PMS, provided the products meet the standards set by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). George Ene-Ita, spokesperson for the NMDPRA, confirmed that all imported fuel must pass rigorous tests before being approved for distribution.
This development follows the import of 141 million litres of PMS in September, as pump prices rose due to supply constraints from the Dangote Refinery. The ongoing talks with Dangote aim to finalise agreements that will stabilise the supply and pricing of petrol nationwide
Marketers hope that the situation will improve as the refinery scales up production to meet its projected capacity.
