Petrol imports rose sharply by 59.5 per cent in May after months of decline, as oil marketers increased purchases from foreign suppliers despite rising output from domestic refineries, according to data obtained from the Nigerian Midstream and Downstream Petroleum Regulatory Authority.
The latest Midstream and Downstream Petroleum Statistics released by the NMDPRA, on Thursday, showed that average daily imports of Premium Motor Spirit increased from 3.7 million litres per day in April to 5.9 million litres per day in May.
The increase came as crude oil supply to domestic refineries declined during the period, raising concerns over the sustainability of local fuel production and the country’s drive towards self-sufficiency in petroleum products.
According to the data, crude receipts by domestic refineries fell from 612,000 barrels per day in April to 578,000 barrels per day in May, representing a 5.6 per cent decline.
The report showed that total PMS supply rose
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