The importation of Premium Motor Spirit, popularly known as petrol, into Nigeria has dropped to an eight-year low in September, a new report has stated.
The sharp decline happened, as government reforms and expanding local refining capacity continue to redefine Nigeria’s downstream oil market.
A report on Monday disclosed that Nigeria received 116,000 barrels per day, equivalent to 18.44 million litres of petrol shipped by sea last month, down from 154,000 barrels per day (24.49 million litres) in August, the lowest on Kpler records that began in 2017.
The decline persisted even as operations at the country’s 650,000-barrel-per-day Dangote Refinery were slowed by ongoing maintenance and a recent industrial action by the Petroleum and Natural Gas Senior Staff Association of Nigeria.