FG Sets New Conditions for Petrol Imports as Dangote Refinery Announces Fresh PMS Prices
- Nigeria's government refines petrol import framework amid growing domestic refining capacity
- Stakeholders discuss conditional import permits to avoid artificial fuel shortages and support local production
- Safety concerns regarding tanker accidents prompt calls for stricter enforcement and operational discipline in the sector
Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.
Nigeria’s downstream petroleum sector is entering a new phase as the Federal Government moves to fine-tune the framework guiding petrol imports, even as the Dangote Refinery releases updated Premium Motor Spirit (PMS) prices.
Fresh deliberations were held on Friday, February 20, 2026, at a high-level stakeholders’ meeting convened by the Authority Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority.
The session, led by Engr. Saidu Aliyu Mohammed brought together key industry players, including members of the Depot and Petroleum Products Marketers Association of Nigeria.
Source: Getty Images
At the heart of the discussions was the country’s petrol import permit framework and how it should operate in a market where domestic refining capacity is expanding but supply risks still linger.
Import licences tied to supply gaps
Stakeholders reviewed fuel supply projections for the first quarter of 2026, assessing whether current local production would be sufficient to meet national demand. While acknowledging improved output from domestic refineries, regulators made it clear that import permits would not be issued automatically.
Instead, licences will only be released when clear supply imbalances are identified.
This conditional approach is aimed at preventing artificial shortages while avoiding unnecessary imports that could disrupt local refining economics. Authorities have already approved import permits for Automotive Gas Oil (AGO) and Aviation Turbine Kerosene (ATK) following observed gaps in those segments.
The message from regulators is straightforward: imports remain a stabilising tool, not a default option.
Reconciliation efforts with Dangote Refinery
The meeting also comes amid ongoing efforts to smooth relations between depot owners and the Dangote Refinery over supply terms and pricing dynamics.
Industry sources describe the engagement as part of a broader reconciliation process designed to better align domestic refining output with distribution realities across the country.
Depot operators recognised the refinery’s growing contribution to national petrol stock levels, particularly after the restreaming of its PMS production.
However, marketers stressed the importance of a predictable and transparent supply framework, one that accommodates local production while leaving room for supplementary imports if shortfalls arise.
Modular refineries were also acknowledged for strengthening domestic supply volumes and enhancing Nigeria’s energy security position.
Safety concerns take centre stage
Beyond pricing and imports, stakeholders addressed the persistent issue of tanker-related road accidents, which continue to pose risks to lives and property.
Participants called for stricter enforcement of safety standards, improved coordination among regulatory bodies, and stronger compliance monitoring across the value chain.
The push for enhanced safety reflects growing recognition that sector stability extends beyond supply figures to operational discipline on the ground.
A delicate balance for the downstream sector
Nigeria’s downstream petroleum market is currently navigating a sensitive transition.
On one hand, domestic refining capacity is expanding, led by large-scale investments and modular refinery growth.
On the other, the system still requires flexibility to manage supply fluctuations without triggering scarcity or price volatility.
As reconciliation efforts with the Dangote Refinery continue and the import permit framework evolves, regulators say sustained dialogue will remain central to maintaining transparency and adequacy of supply.
Depot owners, for their part, have reaffirmed their commitment to constructive engagement, signalling a shared understanding that stability in the fuel market is a collective responsibility.
The coming months will test how effectively this conditional import strategy supports both local production and national energy security.
Source: Getty Images
The development came as Dangote Refinery resumed petrol sales, setting prices at N774 per litre.
The new rate emerged after the refinery finished a reconciliation talks with depot owners and the unveiling of authorised marketers nationwide.
Dangote Refinery captures 62% of market share
Legit.ng earlier reported that Nigeria’s downstream petroleum market has entered a new phase after Dangote Refinery supplied 62 per cent of the country’s Premium Motor Spirit in January 2026, overtaking fuel importers for the first time.
Fresh data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority shows that total average daily PMS supply stood at 64.9 million litres in January.
Of that volume, domestic refineries accounted for 40.1 million litres per day, while imports by Oil Marketing Companies and the Nigerian National Petroleum Company Limited contributed 24.8 million litres daily.
Proofreading by Kola Muhammed, copy editor at Legit.ng.
Source: Legit.ng
