FG Confirms Daily Importation Of 25m Litres Of Petrol
The Federal Government said Wednesday d that Nigeria’s petrol consumption has dropped to 50 million litres per daily with local refineries supplying half of the requirements.
The Federal Government said Wednesday d that Nigeria’s petrol consumption has dropped to 50 million litres per daily with local refineries supplying half of the requirements.
The government said that none of the companies involved in the refining of the 25 million litres locality is also allowed to be involved in mportation of fuel.
The government said that none of the companies involved in the refining of the 25 million litres locality is also allowed to be involved in mportation of fuel.
The Executive Director of the Distribution Systems, Storage and Retailing Infrastructure, Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, Mr. Ogbugo Ukoha, spoke in an interview with reporters in Abuja, noting that importation of petrol
was necessary to ensure that scarcity did not return to the downstream sector.
Ukoha said, "Let me speak a little bit about supply. All of us have experienced a yuletide free of any scarcity and let me just reconfirm that from year to year we saw an increase in the demand for PMS by 2021, 2022 up to 2023 just before the current administration came in.
was necessary to ensure that scarcity did not return to the downstream sector.
Ukoha said, "Let me speak a little bit about supply. All of us have experienced a yuletide free of any scarcity and let me just reconfirm that from year to year we saw an increase in the demand for PMS by 2021, 2022 up to 2023 just before the current administration came in.
"The daily PMS supply sufficiency was always more than 60 million, in fact averaging about 66 million a day for PMS. And following Mr. President’s withdrawal of subsidy, the announcement on 29th May 2023, we immediately saw a steep decline in consumption and between then and as we speak, we’ve continued to do plus or minus 50 million.
"Of these 50 million liters averaging for each day, less than 50% of that is contributed by domestic refineries and so the shortfall in accordance with the PIA (Petroleum Industry Act) is sourced by way of imports."
He further noted that NMDPRA had banned 60,000 litres capacity tankers from transporting petrol and other petroleum products beginning 1 March 2025, despite protests from truck owners.
"Of these 50 million liters averaging for each day, less than 50% of that is contributed by domestic refineries and so the shortfall in accordance with the PIA (Petroleum Industry Act) is sourced by way of imports."
He further noted that NMDPRA had banned 60,000 litres capacity tankers from transporting petrol and other petroleum products beginning 1 March 2025, despite protests from truck owners.
The National Association of Road Transport Owners, NARTO, had last week warned that the ban would cost them over N300 billion invested in procuring over 2,000 units of 60,000 litres capacity trucks currently involved in the transportation of petroleum products across the country.
However, Ukoha said tankers with 60,000 litres capacity were responsible for some of the recent spike in petrol tanker fires across the country, apart from impacting negatively on Nigerian roads.
According to him, “The breaking news about that today is that in today’s meeting comprising DSS, FEMA, Federal Fire Service, Road Safety, NATO, NUPENG, MEMAN, PETROAN, IPMAN, DAPMAN, SON, ONSA, it was decided that beginning 1st March, any truck with an axle load that is carrying more than 60,000 litres of hydrocarbon will not be allowed to load at any loading depot.
‘Let me repeat, beginning March 1, 2025, trucks with a capacity in excess of 60,000 litres will not be allowed to load in any loading depot for petroleum products. By Q4 of 2025, we will also preclude the loading or transportation of petroleum products on any truck in excess of 45,000 litres. So that is the breaking news for today."
However, Ukoha said tankers with 60,000 litres capacity were responsible for some of the recent spike in petrol tanker fires across the country, apart from impacting negatively on Nigerian roads.
According to him, “The breaking news about that today is that in today’s meeting comprising DSS, FEMA, Federal Fire Service, Road Safety, NATO, NUPENG, MEMAN, PETROAN, IPMAN, DAPMAN, SON, ONSA, it was decided that beginning 1st March, any truck with an axle load that is carrying more than 60,000 litres of hydrocarbon will not be allowed to load at any loading depot.
‘Let me repeat, beginning March 1, 2025, trucks with a capacity in excess of 60,000 litres will not be allowed to load in any loading depot for petroleum products. By Q4 of 2025, we will also preclude the loading or transportation of petroleum products on any truck in excess of 45,000 litres. So that is the breaking news for today."
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