The Federal Government, through the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), has granted fresh import permits for petrol and diesel for the third quarter of 2026 (July to September). This strategic move aims to pre-empt potential supply disruptions and guarantee adequate fuel availability across the nation, according to a report by global energy intelligence firm Argus Media.
The approvals, issued to major downstream operators, come amid concerns over tightening fuel stock levels and a reported reduction in gasoline production at the Dangote Petroleum Refinery. The decision signifies Nigeria’s ongoing effort to harmonise its expanding domestic refining capabilities with the critical need for consistent petroleum product supply to consumers. The latest wave of permits follows an earlier issuance in May, which authorised the importation of approximately 720,000 metric tonnes of petrol for the second quarter.
Specific downstream companies that have received approvals to import Premium Motor Spirit, commonly known as petrol, for the July to September period include AA Rano, AYM Shafa, Bono Energy, Nipco, Matrix Energy, and Pinnacle Oil. With the exception of Nipco, these same companies have also been granted permits to import Automotive Gas Oil, widely referred to as diesel. A regulatory source confirmed that many of the recipients of these latest permits are familiar players, having been beneficiaries of previous import authorisation rounds. In terms of allocated volumes, AA Rano and Matrix Energy have each received approvals to import 180,000 metric tonnes of petrol. AYM Shafa is authorised to import 120,000 metric tonnes, while Pinnacle Oil secured a permit for 150,000 metric tonnes of petrol. For diesel imports, AYM Shafa is permitted to bring in 60,000 metric tonnes, and Pinnacle Oil has secured approval for 45,000 metric tonnes. The issuance of these import permits experienced a delay, with an initial target date of June 15 being missed. Sources indicate that the NMDPRA’s decision was prompted by projections of supply gaps within the country’s fuel market. A regulatory source stated, “The permits were issued to head off projected shortfalls in supply.
Issuance is still ongoing, so the final volume cannot be determined right now. But gasoline permits will likely be above 800,000T.” Should this projected volume be realised, it would surpass the total quantity authorised under the second-quarter import programme. The timing of these approvals is particularly significant as fuel inventories in Nigeria are showing signs of strain. Data cited by Argus reveals a decline in petrol stock sufficiency, dropping by 1.7 days to 16 days in May. Similarly, diesel stock sufficiency saw a decrease of eight days, settling at 31 days during the same period. Such reductions in stock levels typically prompt regulatory intervention to ensure uninterrupted supply chains. Market participants attribute the current tightening of stock levels and the reduced gasoline production at the Dangote Petroleum Refinery to ongoing maintenance activities. Specifically, maintenance on the refinery’s Residual Fluid Catalytic Cracker (RFCC), a key unit responsible for gasoline production, is cited as a primary factor. A source familiar with the refinery suggested that while increased exports of low-sulphur straight-run fuel oil and the maintenance programme are “partially correct” explanations for the drop in output, they declined to offer further details. The Dangote refinery did not respond to requests for comment on the matter, according to Argus. The report also highlights that recent fluctuations in international fuel prices are making imports a more attractive option for independent marketers.
Argus reported that the average price for front-month Eurobob oxy swaps, which are increasingly used as a benchmark for gasoline trading in West Africa, decreased from $1,128.50 per tonne in May to $946.25 per tonne in June. A similar trend was observed for offshore Lomé ship-to-ship diesel prices, which fell from $1,409.25 per tonne in May to $1,093.50 per tonne in June. These lower international prices are expected to improve the economic viability for marketers looking to supplement domestic supply. Despite the availability of import permits, industry observers suggest that marketers might not fully utilise the approved volumes.
Preliminary vessel-tracking data from Kpler, as cited by Argus, indicates that independent marketers are expected to import approximately 354,000 metric tonnes of petrol during the current quarter. This figure is considerably lower than the 720,000 metric tonnes authorised under the second-quarter permit programme. The disparity is partly attributed to the timing of the permit approvals, with marketers having a limited window to execute import plans due to the permits being issued mid-quarter. In parallel, the Dangote refinery itself is projected to import around 257,000 metric tonnes of gasoline in the current quarter, according to Kpler data referenced in the report.
Although the refinery operates within a free zone and does not require import permits for its own product imports, it must secure regulatory approval from the NMDPRA before any imported cargoes can be discharged into the Nigerian market. These latest import approvals underscore the persistent reliance on imported fuels within Nigeria’s energy supply chain, even as significant investments are being channelled into enhancing domestic refining capacity. The Dangote Petroleum Refinery, which commenced supplying refined products to the local market last year, has undoubtedly contributed to reducing Nigeria’s dependence on imported fuels. However, industry stakeholders maintain that imports remain an essential component whenever local production falls short of demand or during periods of refinery maintenance. The NMDPRA has consistently affirmed that import licences are granted strategically, primarily to ensure energy security, maintain adequate product stock levels, and prevent fuel scarcity.
The current approvals are seen as a testament to the regulator’s commitment to ensuring market stability while simultaneously supporting the nation’s long-term objective of increasing self-sufficiency through locally refined petroleum products. The report by Argus Media indicates that while domestic refining is on the rise, the dynamic nature of supply and demand, coupled with operational exigencies like maintenance, necessitates a flexible import strategy to safeguard the nation’s energy needs.
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