Between October 18 and October 20, 2024, four vessels carrying a total of 123.4 million litres of Premium Motor Spirit (PMS), also known as petrol, docked at two Nigerian seaports, according to data from the Nigerian Ports Authority. This significant influx is intended to bolster the nation’s fuel supply, following reports of inadequate production from the $20 billion Dangote Petroleum Refinery. The refinery, located in Lekki, had promised to produce 25 million litres of petrol daily but is currently delivering only 10 million litres, leaving a shortfall in domestic supply.
Oil marketers have taken the initiative to import PMS, citing the current deregulated market conditions, which permit such actions under fair market pricing. The recent imports came after the Nigerian National Petroleum Company Limited (NNPCL) raised petrol prices, leading dealers to import about 141 million litres of fuel in September. The current batch of 92,000 metric tonnes of PMS arrived at Lagos’ Apapa port and Calabar port in Cross River State, with individual shipments ranging from 10,000 to 37,000 metric tonnes.
Authorities, including the Nigerian Midstream and Downstream Petroleum Regulatory Authority, maintain strict testing protocols for imported PMS. These products undergo multiple assessments to ensure they meet the required standards before being allowed into the Nigerian market. The tests are carried out at the ports and product origin points to confirm that the fuel meets the specified criteria before being distributed to local markets.
