Seven vessels bringing 154 million litres of imported petrol are set to arrive in Nigeria between March 17 and March 23 to bolster fuel supply

[dropcap]S[/dropcap]even vessels carrying imported Premium Motor Spirit (PMS), widely known as petrol, are set to berth at various seaports across Nigeria between March 17 and March 23, 2025.

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These shipments, expected to bring in 115,000 metric tonnes (approximately 154.22 million litres) of petrol, will help improve the country’s fuel supply amid ongoing shifts in the domestic petroleum sector.

According to a document obtained from the Nigerian Port Authority (NPA), the shipments will arrive at three major seaports: Tincan in Lagos, the Lekki Deep Seaport in Lagos, and the Calabar port in Cross River State.

This comes as the country faces increasing pressure to ensure stable petrol supplies, especially with fluctuating prices and local refining capacities.

The deliveries are part of efforts to address Nigeria’s ongoing fuel shortages, with the seaport operations set to distribute products nationwide.

The scheduled imports follow recent developments in Nigeria’s fuel market, including a drop in the landing cost of imported PMS to N797 per litre.

This reduction has provided some relief for fuel marketers and consumers, although concerns over price increases at depots remain.

The Dangote Petroleum Refinery, Nigeria’s largest refinery, has also played a pivotal role in the country’s fuel supply, particularly with its reduction in petrol prices.

However, there has been growing contention regarding the suspension of the naira-for-crude deal between the Dangote refinery and the Nigerian National Petroleum Company (NNPC).

The deal’s breakdown has been seen by some as a move to hinder the Dangote refinery’s progress in refining local crude oil, thus pushing the country back into reliance on imported refined products.

In a statement, Eche Idoko, the National Publicity Secretary of the Crude Oil Refinery-owners Association of Nigeria, criticised the suspension of the naira-for-crude deal, stating that it undermines Nigeria’s energy security.

Idoko suggested that some stakeholders had grown frustrated with the Dangote refinery’s continuous reduction of petrol prices, thus seeking to bring back full-scale importation of refined petroleum products.

Despite the refinery’s contributions to reducing petrol prices, Nigeria’s three operational refineries still meet less than 50 per cent of the country’s daily petrol consumption.

The shortfall continues to be filled with imported refined products, highlighting the country’s ongoing dependency on foreign supplies.

This issue has been highlighted by the Nigerian Midstream and Downstream Petroleum Regulatory Authority, which has pointed out that local refining capacity remains insufficient.

The vessels arriving in Nigeria between March 17 and March 23 will follow a well-coordinated schedule. The first shipment, carrying 20,000 metric tonnes of PMS, berthed at the Dangote terminal on March 17, 2025.

On the same day, two other vessels with 20,000 metric tonnes each arrived at the Tincan and Calabar seaports.

Further shipments included a 20,000 metric-tonne vessel which arrived at the Ecomarine terminal in Calabar on March 20, while a smaller 5,000-metric-tonne shipment was expected to reach the Tincan port on March 21.

Additional shipments, including 15,000 metric-tonne vessels, are scheduled to arrive at both the Calabar and Ecomarine terminals by March 22 and March 23, completing the seven-vessel shipment programme.

The total import of 115,000 metric tonnes will amount to approximately 154.22 million litres of petrol, contributing significantly to stabilising Nigeria’s fuel supply.

However, while imports are increasing, the price of petrol continues to rise at depots. Several depot owners have raised the loading cost for petrol and other refined petroleum products, with Rainoil, MEN, Pinnacle, Aiteo, and Nipco all increasing their prices per litre, from N835 to N860 or more.

These price hikes have stirred concerns among Nigerians, particularly as the country grapples with high fuel costs and a growing reliance on imports.

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As the government and stakeholders continue to debate solutions to the nation’s fuel supply challenges, the delivery of these shipments represents a key effort to maintain petrol availability across the country.