Nigeria’s import of Premium Motor Spirit, popularly known as petrol, by oil marketers fell to a record low in June, majorly driven by a ramp-up in output from the 650,000 barrels-per-day Dangote Petroleum Refinery, new data has shown.
An Argus report quoting Kpler tracking data on Tuesday said rising output from the Dangote refinery sharply reduced demand for the product from European Union countries, the United Kingdom, and Norway, traditional suppliers of refined petrol to Nigeria.
Kpler data indicated that June marked the lowest level of petrol shipments from Europe to Nigeria since tracking began, highlighting the growing impact of local refining on the country’s fuel import profile.
The drop in purchases by Nigerian importers pulled overall West African imports of European gasoline to a four-month low of 926,000 metric tonnes, down from 1.315 million metric tonnes in May and 20 per cent lower year-on-year.
It added that the country, long the region’s largest gasoline importer, slipped behind Togo last month as the Dangote refinery hit its highest monthly run rate since coming online.
