This post was originally published on this site.
Nigeria’s petrol imports surged in May, reversing previous net export gains due to the presence of Dangote RefineryMaintenance at Dangote Refinery disrupted local petrol production, prompting increased importsIndustry experts remain optimistic about Nigeria’s refining future despite current supply challenges
Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.
Nigeria slipped back into being a net importer of petrol in May after fuel imports climbed to their highest level in four months, raising fresh concerns about the country’s continued dependence on foreign fuel despite the operations of the massive Dangote Refinery.
New market data released by Argus Media showed that petrol imports into Nigeria averaged about 57,000 barrels per day in May, while exports stood at only 23,000 barrels daily. The figures reversed the net export position Nigeria recorded in March and April when local supply briefly outpaced imports.
Read also
Dangote Refinery cuts aviation fuel
