Nigeria’s Petrol Supply Rises as Imports Fall 26%: What it Means for Pump Prices

• Nigeria’s petrol receipts rose 11 per cent in August as imports fell 26 per cent and domestic deliveries strengthened
• Dangote supplied about 71 per cent of petrol received, holding 360.4 million litres in petrol stock at month-end
• Stronger supply does not prove lower pump prices, leaving affordability for motorists and businesses unresolved

Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.

Nigeria’s petrol supply increased in August as imports fell by 26 per cent, but the improvement leaves a crucial question unanswered for motorists and businesses: whether more fuel is translating into lower pump prices.

Figures from the Nigerian Midstream and Downstream Petroleum Regulatory Authority show that domestic deliveries strengthened, with Dangote Petroleum Refinery supplying about 71 per cent of petrol received for the Nigerian market.

However, the supply figures alone do not establish that consumers paid less at filling stations or that a price reduction is imminent.

Domestic petrol supply climbs as imports retreat

According to NMDPRA’s August 2026 factsheet, average daily petrol imports dropped from 19.7 million litres in July to 14.6 million litres in August.

Domestic receipts moved in the opposite direction, rising by 39 per cent from 25.8 million litres daily to 35.9 million litres.

Together, imported and locally supplied petrol lifted total receipts to 50.5 million litres per day, an 11 per cent increase from July’s 45.5 million litres.

The figures demonstrate a growing contribution from domestic refining, although imported petrol continued to account for approximately 29 per cent of receipts.

Dangote’s petrol stock stands at 360.4 million litres

Dangote refinery ended August with 630.9 million litres of combined petroleum products in storage.

That total comprised 360.4 million litres of petrol, 137.2 million litres of diesel and 133.3 million litres of aviation fuel.

The distinction matters: the entire 630.9 million litres cannot be counted as petrol available to motorists.

The refinery produced an average of 41.94 million litres of petrol daily during August, according to the regulator.

However, the closing inventory figure, without a comparison with opening stocks, does not establish that petrol accumulated during the month or that all stored volumes were awaiting domestic buyers.

Higher supply offers no automatic pump-price guarantee

For consumers, the missing link is evidence showing how refinery and depot prices compared with filling-station prices during the period.

The figures cited provide no corresponding July-to-August retail price comparison. They therefore cannot establish how much, if anything, motorists saved as domestic supply increased.

Meanwhile, reported petrol consumption fell by 14 per cent, from 48.3 million litres daily in July to 41.5 million litres in August.

NMDPRA measures this indicator using volumes trucked into the domestic market. It should not automatically be interpreted as proof that households bought less petrol because of high prices.

Petrol stock sufficiency improved only marginally, rising from 22.4 days to 22.9 days.

Imports debate needs a consumer focus

Dangote has argued that uncertainty over import volumes complicates inventory planning and could force it to export products not absorbed locally.

That remains the refinery’s commercial position. The presence of imports alongside domestic stocks does not, on its own, establish that those imports were unnecessary.

NMDPRA also reported that the state-owned refineries in Port Harcourt, Warri and Kaduna recorded no production in August.

For Nigerian consumers, the test of this supply shift is whether petrol becomes reliably available at more affordable prices. August’s figures show stronger domestic deliveries, but leave the affordability question unresolved.

FG names 6 marketers to import 830,000t of petrol

Legit.ng earlier reported that the Federal Government has approved the importation of 830,000 metric tonnes of Premium Motor Spirit (PMS), commonly known as petrol, for the fourth quarter of 2026, as Nigeria prepares for increased fuel demand during the Christmas and New Year festivities.

The approval comes as the Dangote Petroleum Refinery reduces its petrol prices below estimated import landing costs, intensifying competition between locally refined and imported petroleum products.

Marketers release fresh prices for petrol

Legit.ng earlier reported that Nigeria’s downstream petroleum market recorded significant petrol price reductions in three major cities during the trading week, with depot rates falling to as low as N1,330 per litre.

The latest weekly market review by Petroleumprice.ng showed that petrol prices declined across Warri, Port Harcourt and Calabar, while Lagos remained relatively firm at around N1,350 per litre.