The Federal Government has announced that Nigeria’s petrol consumption has decreased to 50 million liters per day. Domestic refineries supply half of the daily demand, and importation provides the remaining half. None of the companies involved in domestic refining are part of the importation process.
At a stakeholders meeting in Abuja, NMDPRA’s Executive Director of Distribution Systems, Storage, and Retailing Infrastructure, Ogbugo Ukoha, highlighted that petrol importation is crucial to prevent scarcity in the downstream sector. He noted that petrol consumption peaked at around 66 million liters per day before the current administration’s withdrawal of subsidy on May 29, 2023, which led to a decline to the current level of 50 million liters per day.
The authority has also banned 60,000-litre capacity tankers from transporting petrol and other petroleum products starting March 1, 2025, despite protests from truck owners. The National Association of Road Transport Owners (NARTO) warned that this ban would impact their investments in over 2,000 such trucks. Ukoha cited these tankers as contributors to recent petrol tanker fires and significant damage to Nigerian roads.
Additionally, he announced that trucks exceeding 60,000 liters capacity would no longer be allowed to load at any depot beginning March 1, 2025. By Q4 of 2025, the limit for loading or transportation of petroleum products will be reduced further to trucks with a capacity of 45,000 liters.
