₦airaland Forum

Nigeria Spends N930bn on Fuel Imports in February Despite Rising Local Refining Capacity

Nigeria imported petrol and diesel in February 2025 valued at about N930 billion, despite rising local refining capacity, raising questions as to the economic sense behind the licensing of oil marketers to bring in fresh petroleum products.

Data on the importation of the fuels last month, showed that aside from the N930 billion bill in February, oil marketers licensed by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), imported products worth N5.5 trillion between October 2024 and January this year.

However, this development is taking place despite the growing capacity of the Dangote Refinery as well as the Port Harcourt Refinery owned by the Nigerian National Petroleum Company (NNPC). Both refineries produce petrol.

In addition, the Warri Refinery as well as other modular refineries scattered mostly in the Niger Delta, refine diesel locally.

In February this year, the petroleum products import licensing body, the NMDPRA, argued that it had continued to approve oil marketers to bring in products, to address shortfalls in the country. It disclosed that the local refinery only meets 50 per cent of daily fuel consumption, justifying the continued importation of petrol to meet the deficit.

Executive Director of Distribution, Systems, Storage, and Retailing Infrastructure of NMDPRA, Ogbugo Ukoha, told journalists: “Just before the current administration came in, the daily PMS (Premium Motor Spirit) supply sufficiency was always more than 60 million.

“In fact, averaging about 66 million a day for PMS. And following Mr. President’s withdrawal of subsidy, the announcement of May 29th, 2023, we immediately saw a steep decline in consumption. And between then and as we speak, we’ve continued to do plus or minus 50 million.

“Of these 50 million litres averaging for each day, less than 50 per cent of that is contributed by domestic refineries. And so the shortfall in accordance with the Petroleum Industry Act (PIA) is sourced by way of imports. So just for clarity, what I’m saying is that the contribution of local refineries towards the sufficiency is less than 50 per cent.”

But President of Dangote Industries Limited (DIL), Aliko Dangote, also speaking in February, said that his refinery holds over 500 million litres of petrol and N600 billion worth of total petroleum products in stock.

A Business Consultant, Mr Dan Kunle, agreed with this position, stating that the sustained import dependency by Nigeria could erode recent gains in the stability of the naira.

In all, the import data for February 2025 indicated that Nigeria brought in 701.75 million litres of petrol and 265.88 million litres of diesel during that month.

Based on landing cost estimates from the Major Oil Marketers Association of Nigeria (MOMAN) as of February 20, the total import bill in February is believed to have exceeded N650.8 billion, while diesel amounted to over N278.5 billion.

The fuel tanker vessels came mainly through Lagos and Port Harcourt, Calabar, and Warri ports.

The NNPC Group CEO, Mele Kyari had stated that the company had not imported petrol this year.

“These significant import figures come at a time when local refining output is increasing. Two of NNPC’s four refineries, in Warri and Port Harcourt, have reportedly resumed operations, while private refineries such as Dangote Refinery, Waltersmith, and Aradel are actively producing.

“Despite these positive developments, the continued large-scale importation of refined petroleum products underscores structural bottlenecks in the industry, including logistics challenges, production scale-up issues, and supply chain inefficiencies,” Kunle explained.

According to him, reducing import reliance will require accelerated refinery optimisation, competitive local pricing structures, and strengthened regulatory frameworks to incentivise domestic supply over costly imports.

Kunle stressed that the continued large-scale dollar-denominated imports could reverse these gains that the naira garnered in the last few months, putting additional pressure on foreign exchange reserves.

donself9:
You cant see it becos, those expected to distribute, hoard and re bag it to sell

Those working in Alausa and Apc members are the big saboteurs of govt goodies cos they must hoard n divert a lot


the two times i got lagos rice ... it was through my friend who is media spokeperson to a chieftain in APC

Govt is not serious, saboteurs can be handled

The agency’s spokesperson, Femi Babafemi, revealed this in a Sunday post on X.com, accompanied by photos and a video.

Babafemi revealed that the candies, which were imported and branded as sweet treats for children, were found to contain a potent strain of cannabis, raising serious concerns about the safety of children’s snacks.

He wrote: “Narco-trends: One of the latest seizures by #ndlea_nigeria officers is candies confirmed to contain a strong strain of cannabis.


“The importer shipped them in for sale in his kiddies’ shop in Lagos, where he sells children’s items, making it seem as though school kids were the target.”


He also urged parents to be vigilant in monitoring their children’s snacks, saying: “Parents, let’s stay alert to the sweets and snacks our kids take to school or bring home.”

kaludestiny10:
What of those that were under payed, will they be credited?

The Office of the Accountant General of the Federation has confirmed that some federal workers experienced salary overpayments in December 2024 due to a system error.

The overpayments are currently being recovered through deductions from affected workers’ salaries.

In a statement released on Friday, and signed by the Director of Press and Public Relations, Bawa Mokwa, the OAGF clarified that there were no shortfalls in salaries paid to federal workers in January and February 2025.

It explained that the amounts received during this period reflected normal salaries after the exhaustion of various arrears paid in the last quarter of 2024.

The statement noted that workers had received arrears for the minimum wage, the 25 per cent and 35 per cent salary increase, and wage awards between October and December 2024.

These additional payments had temporarily inflated salaries, leading some workers to mistakenly believe their January and February salaries had been reduced.

“Payment of normal salaries after exhausting the various arrears began in January 2025, which made some workers think that they were shortchanged when in actual sense, it was their real salaries. A glance at the current salary table will substantiate this further,” the statement read.

Barring any future salary adjustments, the OAGF maintained that the salaries paid in January and February 2025 would remain unchanged until a review by the Federal Government.

On the December 2024 overpayments, the OAGF confirmed that the system error responsible for the excess payments had been corrected, and deductions were ongoing to recover the funds.

“There were cases of overpayments in December 2024 due to system error, adding that the error has been corrected and deductions in respect of the overpayments from the salaries of affected workers were ongoing and shall continue until such overpayments were fully recovered,” it stated.

Regarding the payment of promotion arrears, the OAGF explained that the process is managed by a Standing Committee on Promotion and Salary Arrears in the Budget Office of the Federation, which compiles and vets salary and promotion arrears from Ministries, Departments, and Agencies before forwarding them to the Integrated Payroll and Personnel Information System for payment.

According to the OAGF, batches 1 to 6 of the promotion arrears payments have been fully processed, with further payments awaiting approval from the Budget Office.

Reaffirming its commitment to efficient payroll management, the OAGF urged workers with genuine salary complaints to follow the formal resolution channels.

It encouraged affected staff to report their concerns promptly for resolution.

iwaeda:
People should be weary of job interviews in hidden places. Nlfpmod, ama senkan ni Nigeria. Pakistanis have joined the trade.

Operatives of the Lagos State Police Command have arrested two Pakistani nationals, Roman Gull, 19, and Aftab Ahmad, 28, for allegedly leading a kidnapping syndicate in the state.

PUNCH Metro gathered that the suspects, alongside five accomplices, lured a 48-year-old Pakistani from Kano State with a fake job offer as a chef before abducting him and demanding a ₦50 million ransom from his employer.

The state Police Public Relations Officer, Benjamin Hundeyin, disclosed this in a statement on Thursday, noting that officers from the Ikeja Division acted on a distress call and successfully rescued the victim.

However, some gang members managed to escape.

“A distress call was received at the Ikeja Division of the Lagos State Police Command on Wednesday, March 5, 2025, about the kidnap of a 48-year-old Pakistani within Ikeja.

“Anti-crime patrol teams were swiftly deployed, leading to the rescue of the victim and the arrest of two of his captors, Roman Gull and Aftab Ahmad, both Pakistani nationals, while five others escaped,” Hundeyin stated.

Preliminary investigations revealed that the arrested suspects and their accomplices lured the victim to Lagos by promising him employment as a chef.

They booked his flight from Kano and lodged him in a hotel on February 28, 2025.

The next day, the gang visited the victim, overpowered him, tied his hands and legs, and sent a message to his employer in Kano demanding a ₦50 million ransom, threatening to kill him if their demand was not met.

In a bid to buy time, the employer paid ₦1 million three days later before alerting the police.

Items recovered from the suspects included a grey Toyota Camry, $2,000 cash belonging to the victim, three ATM cards, a green card, a driver’s licence, and a National Identity Number slip.

Hundeyin confirmed that efforts were ongoing to track down the fleeing suspects, adding that they would be prosecuted upon the conclusion of the investigation.

Meanwhile, the rescued victim is said to be in good condition, and contact has been established with his family.

Lagos State Commissioner of Police, Olohundare Jimoh, commended the officers for their swift response and assured residents of the command’s commitment to maintaining security in the state.

WATCH: Nigerian Military Officers Invade Ikeja Electric Offices, Assault Staff After IKEDC Disconnected Power Supply To Ikeja Air Force Base Over Unpaid Electricity Bills

Video Credit: @GuardianNigeria pic.twitter.com/QivSGtkC9J

— Sahara Reporters (@SaharaReporters) March 6, 2025

The Federal Government, through the Ministry of Information and National Orientation, has stated that 2025 will be a year when all the transformative reforms initiated by President Bola Tinubu’s administration will begin to yield tangible benefits for Nigerians.

The Minister of Information and National Orientation, Mohammed Idris, made this assertion at the Ministerial Press Briefing series held on Tuesday in Abuja.

Since the inauguration of the current administration in May 2023, Nigerians have faced economic challenges resulting from various government policies, including the removal of the fuel subsidy and the unification of the foreign exchange market.

Additionally, the government has approved a 50 per cent increase in the cost of data and calls, and there are plans to raise electricity tariffs for non-Band A customers in the coming months. These measures have contributed to widespread economic hardship.




However, Idris reaffirmed the government’s commitment, stating that these reforms — designed to foster economic growth, improve infrastructure, and enhance national security — are expected to start delivering concrete results that will positively impact citizens across the country.

He also highlighted that the recent signing of the N54.2 trillion budget by President Bola Tinubu, the largest in Nigeria’s history, underscores the administration’s dedication to economic growth, national security, and infrastructure development.

He said, “The signing of the N54.2 trillion budget by President Bola Tinubu, the largest in Nigeria’s history, testifies to the administration’s commitment to economic growth, national security, infrastructure development, and human capital advancement.

“The 2025 budget is not just a financial document; it is a bold statement of intent—a roadmap for economic resilience, social stability, and national progress.

“This year, 2025, is set to be the year of consolidation — a year when all the transformative reforms initiated by President Tinubu’s administration begin to yield tangible benefits in the lives of Nigerians.

“The budget reflects a renewed focus on security, infrastructure, education, health, solid minerals, agriculture, and other key sectors that directly impact the country’s well-being and socio-economic development. Let me assure you that the Federal Government remains committed to the efficient implementation of this budget to maximise its full impact on our citizens’ lives.”

Idris also commended the Nigerian media for their dedicated coverage of the Ministerial Briefing Session.

Present to give accounts of their ministries on Tuesday were the Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, and the Minister of State, Senator John Owan Enoh.

The briefing provided an opportunity for the ministers to update Nigerians on the successes and milestones achieved under their leadership.