NIGERIA’S domestic supply and consumption of Premium Motor Spirit (PMS) declined in January 2026, even as refinery capacity utilisation improved and national stock levels strengthened.

Latest data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) January 2026 fact sheet showed that PMS domestic supply fell from 74.2 million litres in December 2025 to 63 million litres per day in January 2026.

Nigerians spent N6.3 trillion on buying PMS in the last four months as importation of the product declined sharply to 24.8 million litres per day last month, following improved supply from Dangote Refinery, NMDPRA has said.

Consumption also dipped from 63.7 million litres per day in December to 60.2 million litres per day in January.

Despite the decline in volumes, PMS stock sufficiency rose to 33 days in January, up from 29.2 days recorded in December, indicating stronger inventory buffers during the period. The data also showed a decline in marine stock, reflecting reduced import volumes.

The fact sheet highlighted improved domestic refining activity during the month, led by the Dangote Refinery and modular operators, while state-owned refineries remained shut.

Dangote Refinery recorded an average capacity utilisation of 61.27 per cent in January, with peak utilisation reaching 67.69 per cent. Planned domestic supply of PMS stood at 75 million litres per day, but actual average domestic supply was 40.1 million litres per day, underscoring a sizeable shortfall relative to projections.

For Automotive Gas Oil (AGO), the refinery posted an average domestic supply of 10.9 million litres per day, reinforcing its growing role in supporting diesel availability.

In contrast, the Port Harcourt Refinery operated under limited conditions and was reportedly shut, though evacuation of AGO produced while operational averaged 0.376 million litres per day. The Warri and Kaduna refineries remained shut.

“Port Harcourt Refinery is shut down. However, evacuation of AGO produced while the refinery was operational averaged 0.376 million litres/day,” the report stated.

Modular refineries contributed to domestic supply as Waltersmith recorded an average capacity utilisation of 61.66 per cent with AGO supply of 0.124 million litres per day. Edo Refinery recorded 63.23 per cent capacity utilisation and an average AGO supply of 0.055 million litres per day. Aradel operated at 29.09 per cent capacity utilisation with an average AGO supply of 0.118 million litres per day. OPAC and Duport refineries remained shut, bringing total average modular refinery output to 0.296 million litres per day.

The report also outlined 2026 daily consumption benchmarks of 50 million litres per day for PMS, 14 million litres per day for AGO and three million litres per day for Aviation Turbine Kerosene (ATK), while Liquefied Petroleum Gas (LPG) benchmark stood at 3,900 metric tonnes per day.

However, average daily truck-out volumes in January exceeded these benchmarks. PMS truck-out stood at 60.2 million litres per day, diesel reached 19.2 million litres per day, aviation fuel averaged 3.5 million litres per day, and LPG supply was 4,860 metric tonnes per day.

For AGO, domestic supply increased from 17.9 million litres per day in December to 18.7 million litres per day in January, while consumption rose from 16.4 million litres per day to 19.2 million litres per day. AGO stock sufficiency improved to 34.2 days from 32.6 days.

National fuel sufficiency for January stood at 33 days for PMS, 34 days for AGO, 20 days for ATK and 18 days for LPG.

The fact sheet also indicated that there was no new refinery licences issued in January. It further noted commissioning activities at Waltersmith’s Train 2 with a planned capacity of 5,000 barrels per day, and the introduction of hydrocarbons during the month.

WHILE the pump price of petrol in Nigeria in January 2026 stood between N739 and N860 per litres with the average price being N795, NMDPRA said the country consumed 60.2 million litres of the white product in the month, up from 63.7 million litres in the previous month.

When multiplied by the daily consumption of 60.2 million litres, Nigerians’ total spending on fuelling their vehicles stands at N1.4 trillion.

In December 2025, Nigeria spent an estimated N1.7 trillion on PMS, consuming 63.7 million litres of fuel per day.

In November 2025, when the average retail price of petrol in Nigeria was N1,061.35 per litre, according to the National Bureau of Statistics (NBS), Nigerians consumed 71.5 million litres of petrol daily, translating to N1.6 trillion.

This comes as Nigeria’s petrol supply rose from 43 million litres per day in 2025 to 64.9 million litres per day in 2026, marking a difference of 21.9 million litres.