Nigeria's Rising Petrol Consumption and Regulatory Shift Towards Gas and Modular Refineries
Nigeria's daily consumption of Premium Motor Spirit (PMS) has increased to 52.9 million liters, surpassing the 2025 benchmark demand of 50 million liters. This rise is attributed to low supply in previous months, stock rebuilding for the festive season, and additional imports by the Nigerian National Petroleum Corporation (NNPC). Despite efforts to reduce fuel import bills, domestic refineries remain largely inactive, with Port Harcourt, Warri, and Kaduna refineries shut down. However, modular refineries are operating at healthy utilization rates, contributing modestly to domestic capacity. The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has issued new licenses for refinery projects, indicating a strategic shift towards enhancing domestic production and energy security.