By Sarah Sam Adda
The Central Bank of Nigeria (CBN) disbursed $1.259 billion to oil sector operators for fuel imports between January and March 2025, according to data obtained by The PUNCH.
Despite the start of local production from the Dangote Petroleum Refinery, fuel marketers continue to rely heavily on imports — citing pricing advantages and market dynamics as key factors.
Data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) shows that marketers supplied 69 per cent of the 21 billion litres of petrol consumed in Nigeria between August 2024 and October 2025.
During the first quarter of 2025, the CBN released $457.83 million in January, $283.54 million in February, and $517.55 million in March — totalling 2.28 billion litres of imported petrol.
Industry sources say the rift between Dangote and fuel marketers is largely driven by price competitiveness.
Ukadike added that fluctuations in global oil prices, exchange rates, and government policy shape the current pricing gap.
Meanwhile, the Major Energies Marketers Association of Nigeria (MEMAN), in its latest Energy Bulletin, pegged the import parity price of Premium Motor Spirit (PMS) at ₦805.46 per litre, citing continued pressure from global crude prices and currency volatility.
The data underscores the tension between government-backed local refining efforts and market-driven import economics, as Nigeria continues to navigate its post-subsidy fuel landscape.
