The Federal Government, through the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), has authorised new petrol and diesel imports for the third quarter of 2026 (July–September) in a bid to avert possible fuel shortages in the local market, according to a report by global energy intelligence company Argus Media.
The report, released on Tuesday and based on information from regulatory and industry insiders, stated that the approvals were granted to major downstream operators amid declining fuel reserves and concerns about lower petrol output from the Dangote Petroleum Refinery.
The decision reflects Nigeria’s ongoing effort to balance growing domestic refining capacity with the need to maintain sufficient petroleum product supplies nationwide.
Argus reported that local companies including AA Rano, AYM Shafa, Bono Energy, Nipco, Matrix Energy, and Pinnacle Oil were issued permits to import Premium Motor Spirit (PMS), commonly known as petrol, during the July–September period.
The publication also disclosed that the same firms, except Nipco, received authorisation to import Automotive Gas Oil (AGO), otherwise known as diesel. These latest approvals come after an earlier round of petrol import permits issued in May, covering roughly 720,000 metric tonnes.
Citing a regulatory source, Argus noted that several of the companies granted the new permits had participated in previous approval rounds. “These are some of the same ones that previously received the PMS permits,” the source said.
Sources quoted by the publication indicated that AA Rano and Matrix Energy were each cleared to import 180,000 metric tonnes of petrol, while AYM Shafa received approval for 120,000 metric tonnes. Pinnacle Oil was authorised to import 150,000 metric tonnes.
For diesel, Argus stated that AYM Shafa obtained a permit for 60,000 metric tonnes, while Pinnacle was approved for 45,000 metric tonnes. The report added that the permits were only recently issued after being postponed from the initial target date of June 15.
The report stated: “The Nigerian Midstream Downstream Petroleum Regulatory Authority has issued clean product import permits for July to address supply shortages, according to sources. Domestic firms AA Rano, AYM Shafa, Bono, Nipco, Matrix and Pinnacle received gasoline import permits, while the same companies – minus Nipco – received gasoil import permits for the third quarter, sources said.
“The recipients are some of the same ones that [previously] received the PMS [gasoline] permits,” according to a regulatory source. Another regulatory official quoted by the publication explained that the approvals were intended to prevent anticipated supply deficits in the nation’s fuel market.
“The permits were issued to head off projected shortfalls in supply”, the source said. “Issuance is still ongoing, so the final volume cannot be determined right now. But gasoline permits will likely be above 800,000T”, the source continued.
If realised, the projected volume would surpass the quantity approved under the second-quarter import programme. The approvals come as fuel inventories show signs of tightening.
Data referenced by Argus showed that petrol stock coverage in Nigeria fell by 1.7 days to 16 days in May, while diesel stock coverage declined by eight days to 31 days over the same period. Such reductions typically prompt regulators to take proactive steps to avoid disruptions in supply.
The report attributed the decline in inventories partly to reduced petrol production at the Dangote Petroleum Refinery in Lekki, Lagos. Figures cited by Argus indicated that the refinery’s petrol output dropped by 16 per cent to 44.7 million litres per day, while diesel production rose by four per cent to 24.5 million litres daily.
Industry participants quoted in the report linked the decrease in petrol production to maintenance work on the refinery’s Residual Fluid Catalytic Cracker, one of its key gasoline-producing units.
Argus further reported that a source familiar with the refinery described claims connecting increased exports of low-sulphur straight-run fuel oil and the maintenance programme as “partially correct” but declined to elaborate.
According to the publication, the Dangote refinery did not respond to requests for comment. It also observed that recent declines in global fuel prices could make imports more appealing for independent marketers.
Argus noted that front-month Eurobob oxy swaps, now widely used as the benchmark for gasoline trading in West Africa, averaged $946.25 per tonne in June, down from $1,128.50 per tonne during the same period in May.
Likewise, offshore Lomé ship-to-ship diesel prices averaged $1,093.50 per tonne in June, compared with $1,409.25 per tonne in May. These lower international prices are expected to enhance import profitability for marketers seeking to complement local supply.
Despite the availability of permits, the report suggested that marketers may not utilise all approved volumes. Preliminary vessel-tracking data from Kpler, cited by Argus, showed that independent marketers are expected to import around 354,000 metric tonnes of petrol during the current quarter.
This figure is significantly below the 720,000 metric tonnes approved under the second-quarter programme. Sources attributed the disparity partly to the timing of the approvals, noting that permits were granted midway through the quarter, leaving marketers with limited time to implement import plans.
Meanwhile, Kpler data referenced in the report projected that the Dangote refinery would import approximately 257,000 metric tonnes of gasoline during the current quarter.
Although the refinery operates within a free zone and does not require import permits for bringing foreign products into the country, it must still obtain NMDPRA approval before such cargoes can be released into the Nigerian market.
The new approvals highlight the continued importance of imports within Nigeria’s fuel supply system despite substantial investments in domestic refining.
The Dangote Petroleum Refinery, which began supplying refined products to the local market last year, has contributed to reducing Nigeria’s reliance on imported fuel. Nevertheless, industry stakeholders argue that imports remain necessary whenever local production cannot meet demand or when refineries are undergoing maintenance.
The NMDPRA has consistently stated that import permits are issued only when needed to safeguard energy security, maintain adequate stock levels, and prevent fuel shortages nationwide.
These latest approvals demonstrate the regulator’s commitment to preserving market stability while advancing Nigeria’s transition toward greater dependence on locally refined petroleum products.
