Nigerians Keep Buying Petrol Despite Rising Prices, Consumption Hits 52.4 Million Litres



Nigeria’s appetite for petrol appears far from slowing down despite worsening fuel prices and growing economic hardship across the country.


New data released by the Nigerian Midstream and Downstream Petroleum Regulatory Authority showed that daily consumption of Premium Motor Spirit (PMS), commonly known as petrol, rose by 10.78 per cent in April 2026 to 52.4 million litres. The figure represents a sharp increase from the 47.3 million litres recorded in March.


The rise in consumption comes at a time when petrol prices have climbed dramatically due to escalating tensions in the Middle East and disruptions in global crude oil supply chains.


Crude oil prices reportedly surged to as high as $106 per barrel amid the ongoing conflict involving Iran, Israel and the United States. The crisis has severely affected shipping routes around the Strait of Hormuz, forcing oil tankers to reroute and creating fresh uncertainty in global energy markets.


In Nigeria, the impact has been immediate.


Average petrol prices reportedly rose to about ₦1,370 per litre in April, representing an increase of roughly 13.8 per cent from the ₦1,180 average recorded in March. Yet instead of reducing demand, Nigerians continued buying more fuel.


The development reflects the deep dependence of Africa’s largest economy on petrol-driven transportation, generators and informal energy systems.


For many Nigerians, fuel is no longer optional. It powers homes during blackouts, keeps businesses alive and supports transportation in cities where public infrastructure remains weak. Even amid inflation and declining purchasing power, millions still rely heavily on petrol for daily survival.


Local refining activities also witnessed significant changes during the period.


According to the NMDPRA report, combined petrol supply from local refining and imports rose by 10.7 per cent to 44.4 million litres daily in April, compared to 40.1 million litres in March.


The Dangote Refinery accounted for most of the increase.


Supply from the refinery reportedly climbed by 19 per cent to 40.7 million litres daily in April, up from 34.2 million litres in March. At the same time, petrol imports dropped sharply by 37.3 per cent from 5.9 million litres to 3.7 million litres per day.


The report also revealed that imported crude oil declined drastically by 95.65 per cent to 0.41 million barrels in April, compared to 9.43 million barrels recorded the previous month.


Meanwhile, crude supply from Nigerian upstream producers to domestic refineries increased by 56 per cent to 17.99 million barrels.


The NMDPRA stated that the 650,000 barrels-per-day Dangote Refinery achieved 99.12 per cent operational capacity in April, while government-owned refineries in Port Harcourt, Warri and Kaduna remained inactive.


Nigeria’s crude oil production also recorded modest growth during the month, rising to 1.663 million barrels per day from 1.546 million barrels recorded in March, including condensates.


The continued rise in fuel consumption despite soaring prices highlights a long-standing structural reality in Nigeria’s economy.


Years of unreliable electricity supply, inadequate public transport systems and weak refining capacity have left millions heavily dependent on petrol. Analysts warn that unless alternative energy infrastructure and stable electricity systems improve significantly, Nigerians may continue absorbing painful fuel costs regardless of price increases.


The situation also revives memories of previous fuel-related crises in the country, including the historic Occupy Nigeria protests triggered by petrol price hikes and subsidy removal debates.

Post a Comment

0 Comments

@bhglifetv