Nigeria’s downstream petroleum sector recorded a major boost in November as daily petrol supply surged by an impressive 55 per cent, offering fresh hope to motorists, businesses and households long burdened by scarcity and uncertainty. The sharp rise in supply signals a strategic effort to stabilise the market, improve availability nationwide and cushion the pressure that often accompanies peak demand periods.
A Significant Turnaround in Petrol Availability
Average daily supply of Premium Motor Spirit climbed to about 71.5 million litres in November, up from roughly 46 million litres recorded in October. This leap represents one of the most notable month-on-month improvements in recent times and reflects deliberate steps to rebuild fuel stock levels after weeks of tight supply.
The increase came at a critical period when fuel demand traditionally rises due to festive travel, commercial activity and higher transportation needs across the country. By significantly raising supply, authorities aimed to prevent the familiar cycle of fuel queues, panic buying and price instability.
Consumption Also Rises, but Supply Stays Ahead
Alongside the surge in supply, petrol consumption also recorded a sharp increase. Average daily consumption rose to about 52.1 million litres in November, compared to around 28.9 million litres in October. This growth underscores how closely demand responds to improved availability and reduced fear of scarcity.
Despite the rise in consumption, supply remained well above demand, creating a comfortable buffer. The gap between supply and consumption translated into a sizeable daily surplus, strengthening confidence in the system’s ability to meet national needs without disruptions.
Imports Drive the Supply Boost
The significant rise in petrol availability was largely driven by increased import volumes. A key factor was the discharge of multiple cargoes that had been scheduled for earlier months but eventually arrived and offloaded in November. This inflow helped accelerate stock build-up and reinforced distribution across the country.
The decision to ramp up imports was also influenced by earlier supply shortfalls, which made it necessary to replenish reserves and prevent a recurrence of scarcity during high-demand periods.
Domestic Refining Still Limited
While overall supply improved, domestic refining capacity remained constrained. Local refineries contributed an estimated 17.1 million litres per day to petrol supply in November. However, government-owned refineries continued to record zero output during the period, highlighting ongoing challenges in restoring full domestic refining operations.
This situation reinforces Nigeria’s continued dependence on imported petrol, even as efforts to revive refineries and expand local production remain a key policy objective.
What This Means for Motorists and Businesses
For everyday Nigerians, the increase in petrol supply brings tangible benefits. Improved availability reduces the likelihood of long queues at filling stations, cuts down on time lost searching for fuel and eases pressure on transport costs. For businesses, especially those reliant on logistics and power generation, stable fuel supply supports smoother operations and cost planning.
The surplus recorded in November also helps calm market sentiment, discouraging hoarding and speculative pricing that often worsen scarcity situations.
Broader Energy Sector Implications
The improvement in petrol supply occurred alongside better performance in other segments of the energy sector. Increased gas supply and improved utilisation of processing facilities point to gradual progress in overall energy availability. Together, these developments suggest a coordinated push toward stabilising Nigeria’s energy landscape.
Looking Ahead
While the 55 per cent increase in petrol supply is a welcome development, sustaining this momentum remains crucial. Long-term stability will depend on consistent supply planning, improved logistics, and meaningful progress in domestic refining capacity. As demand continues to grow with population and economic activity, ensuring reliable fuel availability will remain central to Nigeria’s economic stability.
For now, the November figures offer a rare moment of optimism, signalling that with the right mix of planning and execution, fuel scarcity can be reduced and confidence gradually restored in the downstream petroleum sector.
