downstream oil sector
Fuel Imports Rise to 71% as Marketers Abandon Local Refineries
In a striking development within Nigeria’s oil and gas sector, new data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) reveals that 71.38% of the nation’s Premium Motor Spirit (PMS) consumption for May and June 2025 came from imports—despite the existence of domestic refining capacity, particularly from the $20 billion Dangote Petroleum Refinery. […]
Fuel Marketers Approve Refinery Divestment, Project Price Relief
Oil marketers and industry stakeholders have expressed strong support for the proposed sale or privatisation of Nigeria’s long-dormant refineries under the management of the Nigerian National Petroleum Company Limited (NNPC Ltd), citing the potential for increased market competition, operational efficiency, and ultimately lower fuel prices for consumers. Their reactions follow the candid remarks by NNPC’s […]
Marketers Import N436bn Petrol as Rift with Dangote Deepens
Nigeria’s downstream petroleum sector is gripped by a new wave of tension as independent oil marketers have resumed large-scale petrol importation, sidelining the $20bn Dangote Petroleum Refinery despite its growing production output. In just nine days, over 496 million litres of Premium Motor Spirit (PMS) valued at approximately N436.37bn were imported into the country, reinforcing […]
Marketers Spend N2.4tn on Petrol Imports to Counter Dangote Output
A fresh round of competition has intensified in Nigeria’s downstream petroleum sector as independent marketers reportedly imported petrol worth over N2.4 trillion in just 70 days, even as the Dangote Refinery increases its domestic supply capacity. According to an exclusive analysis of midstream and downstream import records obtained by ireport247news.com, petroleum marketers imported 2.57 billion […]