Nigeria’s Petrol Consumption Rises as Dangote Refinery Runs at Full Capacity
By Aboki Forex —
Nigeria’s petrol consumption increased in April, while domestic refining climbed to near full capacity, driven by strong output from the Dangote refinery. Data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) showed this on Wednesday.
Average daily petrol consumption rose to 51.1 million litres, slightly above the 50 million litres benchmark. Diesel demand also increased to 17.3 million litres per day.
Refining utilisation averaged 99.1% in April. The Dangote refinery operated at full capacity for most of the month. Product output averaged 53.6 million litres of petrol, 23.6 million litres of diesel, and 22.9 million litres of aviation fuel daily. Some volumes were exported.
Fuel stock cover was uneven. Petrol had 18 days of cover, compared with 39 days for diesel and 70 days for aviation fuel.
Retail petrol prices averaged 1,271 naira per litre in coastal Lagos, and 1,371 naira in northern Maiduguri. Brent crude traded at $120.55 per barrel.
All four state-owned NNPC Ltd refineries, with a combined capacity of 445,000 barrels per day, remain shut.