Daily Petrol Use Drops to 56.9m Litres as Supply Tightens
Nigeria’s daily petrol consumption fell to 56.9 million litres in February, down from 60.2 million litres in January. New data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) reveals a cooling of demand alongside a sharp contraction in supply. Total domestic petrol supply plummeted to 39.6 million litres per day, a significant drop from the 64.9 million litres recorded the previous month. This downward trend coincides with a period of intense price volatility and shifting logistics in the downstream sector.
The Dangote Petroleum Refinery remains the nation’s primary source of fuel, yet its output saw a noticeable dip. Supply from the Lekki facility declined to 36.5 million litres per day in February, compared to 40.1 million litres in January. Despite this, the refinery continues to dwarf all other local sources. The broader supply deficit suggests that importers and marketers are struggling with liquidity as international crude costs fluctuate.
State-owned refineries continue to be a drain on the national balance sheet without producing a single drop of petrol. The Port Harcourt, Kaduna, and Warri facilities remained entirely inactive throughout February. While rehabilitation work continues, these multibillion-naira assets contributed nothing to the petrol pool. They did, however, release small quantities of previously refined diesel stocks to the market, averaging less than 0.5 million litres per day combined.
In contrast to the petrol slump, the diesel market showed signs of resilience. Daily supply of Automotive Gas Oil (AGO) rose to 24.4 million litres, up from 18.9 million in January. This 29 per cent increase was bolstered by modular refineries and the evacuation of old stocks from government depots. The shift suggests that while petrol demand is price-sensitive, industrial and logistical reliance on diesel remains firm.
Modular refineries are quietly carving out a niche in the diesel segment. Edo Refinery led the pack with an 81.66 per cent capacity utilisation rate, while WalterSmith operated at nearly 60 per cent. Conversely, some smaller players like OPAC and Duport remained shut. These private ventures provide a vital, albeit modest, buffer against total reliance on imports or a single large-scale refiner.
The overall picture for February is one of a tightening energy market. Falling consumption often signals a struggling middle class and reduced commercial activity, as citizens cut back on non-essential travel. With state refineries still “under repair” and the Dangote plant recalibrating its output, the Nigerian consumer remains exposed to the whims of a volatile global market. For now, the nation is using less because it can afford less.