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Petrol imports drop to eight-year low – Report

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BREAKING NEWS: Death Hit Nigeria Again As Popular Nigerian Senator Dies Just Because of ThisSee Viral Photos/Videos Before They Are Deleted.....TAP TO CONTINUE READING

The importation of Premium Motor Spirit, popularly known as petrol, into Nigeria has dropped to an eight-year low in September, a new report has stated.

The sharp decline happened, as government reforms and expanding local refining capacity continue to redefine Nigeria’s downstream oil market.

A report by Argus on Monday disclosed that Nigeria received 116,000 barrels per day, equivalent to 18.44 million litres of petrol shipped by sea last month, down from 154,000 barrels per day (24.49 million litres) in August, the lowest on Kpler records that began in 2017.

The decline persisted even as operations at the country’s 650,000-barrel-per-day Dangote Refinery were slowed by ongoing maintenance and a recent industrial action by the Petroleum and Natural Gas Senior Staff Association of Nigeria.

This development came despite the Dangote Refinery carrying out maintenance on its gasoline-producing Residual Fluid Catalytic Cracking unit, experiencing brief union-related disruptions, and receiving limited crude oil supplies during the period.

The report read, “Nigerian gasoline imports in September again scraped at least eight-year lows, even with the country’s 650,000-barrel-per-day Dangote refinery undergoing maintenance and facing industrial action.

“The country received 116,000 barrels per day of seaborne gasoline last month, down from 154,000 barrels per day in August, the lowest on Kpler records that began in 2017.”

The report added that net gasoline imports slumped to a new low of 38,000 barrels per day in September, after cargoes were notably loaded from Dangote for New York Harbour.

Total gasoline loadings from Nigeria were their second-highest on record at 77,000 barrels per day.

It also reported that the Dangote’s RFCC was taken offline on September 2, according to market participants, and was due to return fully online in early October.

Towards the end of September, a dispute between the refinery and oil workers’ union PENGASSAN led to a two-day strike that disrupted natural gas and crude supply. This was resolved at the start of October.

Argus tracking showed 375,000 barrels per day of crude arrived in September, down from 440,000 barrels per day in August.

But no local gasoline supply shortages were reported in September, and gasoline asking prices at the Dangote refinery were broadly steady around N820 naira per litre.

The report added that the naira-denominated domestic gasoline sales were further bolstered by the resumption of the naira-for-crude programme, under which Dangote pays local currency for domestic crude grades sourced from state-owned NNPC and sells gasoline and diesel to the local market in naira.

A one-day suspension of naira gasoline sales by Dangote on September26 was “amicably resolved”, according to a finance ministry statement.

Dangote said Nigeria’s domestic petrol demand averaged 40 million litres per day, equivalent to 252,000 barrels daily in September.

It noted that global gasoline prices climbed during the month, partly due to the Dangote RFCC incident early in September, which affected regional supply. The benchmark non-oxygenated gasoline barge crack to ICE Brent crude surged to a 16-month high of $21.17 per barrel on September 17, driven by tighter supply fundamentals.

Data from global energy intelligence firm Kpler showed that Nigeria’s petrol imports dropped by more than 40 per cent to 162,000 barrels per day between January and September 2025, down from last year’s levels when the country ranked as the world’s fifth-largest petrol importer. Nigeria now occupies the eighth position globally, though it remains Europe’s largest gasoline buyer, albeit at nearly half of 2024 volumes.

BREAKING NEWS: Death Hit Nigeria Again As Popular Nigerian Senator Dies Just Because of ThisSee Viral Photos/Videos Before They Are Deleted.

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BREAKING NEWS: Nigerian National Assembly Finally Clears Femi Fani-Kayode As Ambassador

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The Senate Committee on Foreign Affairs has cleared Ambassador-designate, former Minister of Aviation, Femi Fani-Kayode.....TAP TO CONTINUE READING

Naija News reports that Fani-Kayode was cleared after his appearance before the Senate.

Fani-Kayode, who is also a former Minister of culture, was given the ‘bow-and-go’ privilege.

It was gathered that during the screening, after a brief introductions, former ministers, ambassadors and lawmakers were asked to “take a bow and leave,” in line with Senate tradition.

Senate Leader Opeyemi Bamidele defended the continued use of the “bow and go” procedure for certain nominees, saying it is reserved for individuals with established and verifiable records of public service.

Speaking during the screening of non-career ambassadorial nominees, Bamidele explained that anyone who has previously served in the National Assembly automatically qualifies for the privilege,

He noted that their legislative history and public profile are already well known to lawmakers.

Recall that President Tinubu submitted a 32-member list of ambassadorial nominees to the Senate on November 29 for confirmation.

The list includes 15 career diplomats and 17 non-career appointees, who are expected to be posted to countries where Nigeria maintains diplomatic relations and to international organisations such as the United Nations.

The nominations attracted attention due to the inclusion of high-profile political figures. Notable names on the list include former INEC Chairman Mahmood Yakubu, former governors Okezie Ikpeazu and Ifeanyi Ugwuanyi, former presidential aide Reno Omokri, and Fani-Kayode.

Women also feature in the list, with four career diplomats and six non-career nominees.

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BREAKING NEWS: Finally United States Surveillance Aircraft Monitors JNIM Smuggling Route On Nigeria–Benin Border

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A United States Air Force intelligence, surveillance, and reconnaissance (ISR) aircraft is currently conducting operations over Babana, a strategic border crossing between Nigeria and the Benin Republic known for militant smuggling activity. Babana has long served as a key transit route for armed groups, particularly Jama’at Nasr al-Islam wal Muslimin (JNIM), who exploit the porous border to smuggle weapons and supplies. Security expert, Brant Philip, confirmed the ongoing surveillance in a post on (formerly Twitter) on....TAP TO CONTINUE READING

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BREAKING: Economic and Financial Crimes Commission EFCC, Compiling Charges, To Arraign Malami In Court

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The Economic and Financial Crimes Commission (EFCC) has reportedly begun compiling charges against the former Attorney-General of the Federation (AGF) and Minister of Justice, Abubakar Malami (SAN), over alleged misappropriation of funds.....TAP TO CONTINUE READING

Malami, who has been in the anti-graft agency’s custody since Monday, has been granted administrative bail but remains detained due to ongoing verification of documents submitted to meet his bail conditions.

A source within the EFCC confirmed the development to Daily Trust, stressing that the commission is concluding its investigation and intends to arraign the former AGF in court soon.

“He has been granted an administrative bail but he’s with us because he’s yet to perfect his bail conditions. The documents he submitted for bail are still being scrutinised. Once that is done, he will go,” the source explained.

The source added, “Secondly, he would be arraigned in court as soon as we conclude our investigation. Charges are already being compiled against him. We’re not bittered. This is not persecution, we’re just doing our job.”

The current probe is reportedly revisiting a series of high-profile financial transactions that trailed Malami’s tenure, including those linked to the Abacha loot recovery and other controversial payments.

In the midst of the ongoing detention and compilation of charges, Malami issued a statement strongly defending his innocence and denying any involvement in terrorism financing or other crimes.

Malami stated “My attention has been drawn to a recent publication in which my name was mentioned in connection with allegations of terrorism financing and so-called ‘links’ to persons described as terror suspects or alleged financiers.

“I consider it necessary, in the interest of truth, justice and public record, to make the following clarifications.

“First, I state clearly and unequivocally that I have never at any time been accused, invited, interrogated, investigated or charged by any security, law-enforcement, regulatory or intelligence agency—within or outside Nigeria—in respect of terrorism financing or any related offence.”

He added, “Secondly, even the retired military officer cited as the principal source in the said publication categorically admitted that he was not accusing me, or other named individuals, of financing terrorism.

“His own account, as reported, was limited to a vague assertion that certain suspects allegedly had some form of ‘business’ or ‘institutional’ relationship with various persons.

“That important clarification was, unfortunately, overshadowed by a headline and framing capable of misleading well-meaning members of the public into drawing inaccurate and damaging conclusions which was unfortunately politically manipulated by my political opponents to create mischievous insinuations implying my involvement in terrorism financing.

“Terrorism financing is a grave crime with devastating consequences for national security and human life. Any attempt—whether by direct allegation or indirect innuendo—to associate an individual with such an offence must be grounded in verifiable facts, due process and lawful findings, not in conjecture, speculation, or guilt by association.

“To suggest that lawful professional or institutional engagements can, without more, be read as evidence of terrorism financing is both mischievous and unjust.”

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