₦airaland Forum

Seven vessels carrying imported Premium Motor Spirit, popularly called petrol, are expected to berth at seaports along the nation’s borders between Monday, March 17, and Sunday, March 23, Saturday PUNCH reports.

According to a document obtained from the Nigerian Port Authority on Thursday, these vessels carrying 115,000 metric tonnes representing 154.22 million litres of PMS will bring in products through three seaports to improve fuel supply nationwide.

The latest development follows an exclusive report by The PUNCH, which disclosed that the landing cost of imported PMS dropped to N797 per litre.

It also comes amidst the suspension of the sales of petroleum products in naira by the Dangote Petroleum Refinery following a stalled renegotiation of the naira-for-crude deal with the Nigerian National Petroleum Company Limited.



Domestic crude oil refiners argued that the halt in crude supply in naira was the latest ploy to frustrate the Dangote refinery and bring back the full importation of refined petroleum products.

The National Publicity Secretary of the Crude Oil Refinery-owners Association of Nigeria, Eche Idoko, disclosed that suspending the deal defeats the efforts of all stakeholders to achieve energy security in-country.

He said some persons were aggrieved by the continuous reduction in petrol prices by the Dangote refinery and only used monopolistic talks to bring back importation as an alternative.

True to this fact, the continuous importation of refined products has persisted despite improving local capacity.

Recall that the Nigerian Midstream and Downstream Petroleum Regulatory Authority recently stated that the country’s three operational refineries contribute less than 50 per cent of the nation’s daily petrol consumption, with the shortfall being filled with imported products.

An analysis of the document from NPA showed that the commodities landed at the Tincan port in Lagos, the Lekki Deep Seaport in Lagos and the Calabar port in Cross River State.

The document also revealed that the Dangote refinery imported 654,766 metric tonnes of crude oil within the same period.

The first shipment carrying 20,000 metric tonnes of PMS allocated to the West African Port Services berthed at the Dangote terminal on Monday, March 17, 2025, at 4:03 pm.

On the same day, two vessels conveying 20,000 metric tonnes respectively berthed at the Tincan and Calabar seaports.

This was followed by the arrival of a 20,000 metric-tonne Watson vessel on Thursday, March 20, at 3:18 pm. It berthed at the Ecomarine terminal and was handled by a Kach maritime agent.


Similarly, a Binta Saleh ship was scheduled to berth at the Tincan port in Lagos carrying 5,000 metric tonnes of imported petrol on Friday, March 21 at midnight.

On Saturday, March 22, at 11:06 am, another vessel carrying 15,000 metric tonnes of fuel will berth at the Calabar port. It was assigned to Peak Shipping as its agent.

At the same port, a vessel carrying 15,000 metric tonnes of fuel will arrive at the Eco marine terminal on Sunday at 5:10 pm. This means the seven vessels should bring in 115,000 metric tonnes.

Going by the conversion rate of 1,341 litres to one metric tonne, it, therefore, implies that the marketers are bringing in about 154.22 million litres of petrol.

Meanwhile, depot owners have continued to effect an increase in the loading cost of petrol and other refined petroleum products at their depots.

An analysis of data obtained by our correspondent revealing petrol price movements at loading depots on Thursday showed that Rainoil Depot increased its price from N835 to N860 per litre, and MEN depot effected an increase to N860 per litre despite not making sales the previous day.

Pinnacle Depot made a similar price change from N835 to N860 per litre, while Aiteo and Nipco changed their prices to N856 and N860 per litre, respectively, from N835.

Whalis:
Many of us seem not to know what is happening. The government wants petrol to sell above 1500/l. This is the only way they won't have budget deficit. Anything less as Dangote is trying to help out is anti-government but pro-people. He will be fought with anything available including using government agencies.

Mynd44:
Whiever taught you econonics owes you a profound appology

Whalis:
Many of us seem not to know what is happening. The government wants petrol to sell above 1500/l. This is the only way they won't have budget deficit. Anything less as Dangote is trying to help out is anti-government but pro-people. He will be fought with anything available including using government agencies.

ebexofficial:
Tinubu will not use his veto power here

Mynd44:
Whoever taught you econonics owes you a profound appology

Mynd44:
Whoever taught you econonics owes you a profound appology

cenaman:
Useless NNPCL.

NNPCL deliberately trying to frustrate Dangote refinery.

RealLordZeus:

This is too brutal for a Mod

Whalis:
Many of us seem not to know what is happening. The government wants petrol to sell above 1500/l. This is the only way they won't have budget deficit. Anything less as Dangote is trying to help out is anti-government but pro-people. He will be fought with anything available including using government agencies.

adenigga:
Source: https://punchng.com/Naira-for-crude-crisis-Petrol-imports-rise-to-154m-litres-weekly

Whalis:
Many of us seem not to know what is happening. The government wants petrol to sell above 1500/l. This is the only way they won't have budget deficit. Anything less as Dangote is trying to help out is anti-government but pro-people. He will be fought with anything available including using government agencies.

cenaman:
Useless NNPCL.

NNPCL deliberately trying to frustrate Dangote refinery.

Mynd44:
Whoever taught you econonics owes you a profound appology

Proudlyngwa:
Just two questions
What brand and What location.

Back to the topic

Issue of crude is a very dicey one.

Crude is supposed to be sold in dollars, but it's constituents except when being exported are meant to be sold in local currencies.

The problem is Past government have sold our crude upto our grandchildren allocation, and we are not producing enough for local consumption.
During Buhari s era, there was an understanding to ramp up production to four million barrels, why that was not achieved only yemi Osibanjo can explain.
Until we have our daily crude above 4 million don't expect any improvement, because we won't be able to meet local consumption quota, pay up our debts and still have some dollars for expenditure left.

ebexofficial:
Tinubu will not use his veto power here