Nigeria’s marketers and retailers of petroleum products imported 154.22 million liters of premium motor spirit from March 17 to March 23, 2025, as reported by the Nigerian Port Authority.
This indicates that during the specified period, petrol marketers and retailers sought alternative sources for petroleum products beyond the Dangote Refinery. According to a document released by the NPA on Thursday, vessels transporting 115,000 metric tonnes, equivalent to 154.22 million liters of PMS, are set to deliver these products through the Tincan port in Lagos, the Lekki Deep Seaport in Lagos, and the Calabar port in Cross River State.
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The document further disclosed that the Dangote Refinery imported a total of 654,766 metric tonnes of crude oil during the same timeframe.
In line with this, the initial shipment of 20,000 metric tonnes of Premium Motor Spirit (PMS) designated for the West African Port Services arrived at the Dangote terminal on Monday, March 17, 2025, at 4:03 PM.
On that same day, two vessels, each carrying 20,000 metric tonnes, docked at the Tincan and Calabar seaports. Additionally, a Watson vessel, also with a capacity of 20,000 metric tonnes, arrived on Thursday, March 20, at 3:18 PM, docking at the Ecomarine terminal and managed by a Kach maritime agent.
Moreover, Binta Saleh’s vessel is set to arrive at the Tincan port in Lagos, transporting 5,000 metric tonnes of imported petrol, scheduled for Friday, March 21, at midnight.
On Saturday, March 22, at 11:06 am, a vessel carrying 15,000 metric tonnes of fuel is scheduled to dock at the Calabar port, with Peak Shipping designated as its agent.
Additionally, another vessel with the same capacity of 15,000 metric tonnes of fuel is set to arrive at the Eco Marine terminal at the same port on Sunday at 5:10 pm. Collectively, these seven vessels are expected to deliver a total of 115,000 metric tonnes.
In summary, using the conversion rate of 1,341 litres per metric tonne, this indicates that petrol retailers and marketers will be receiving approximately 154.22 million litres of petrol during this timeframe.
This development occurs in the context of Dangote Refinery’s recent decision to halt the sale of its petroleum products in Naira.
The decision by the refinery, which processes 650,000 barrels per day, to cease sales in Naira is closely linked to the ongoing deadlock regarding the Naira-for-crude sale agreement with the Nigerian National Petroleum Company Limited.
Previously, the Petroleum Retailers Outlets Owners Association of Nigeria indicated to DAILY POST that its members would not hesitate to explore alternatives with NNPCL and consider petrol imports.
It is noteworthy that as of March 12, 2025, the landing cost of imported Premium Motor Spirit (PMS) had decreased to between N774 and N797 per litre, while the ex-depot price at Dangote Refinery was recorded at N815 to N825 per litre.
In support of PMS imports, the Nigerian Midstream and Downstream Petroleum Regulatory Authority recently pointed out that the country’s three functioning refineries account for less than 50 percent of the daily petrol consumption, with the remainder being supplied by imported products.
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