Nigeria’s petrol reserves remain below safety threshold
By the AFREEQUE newsroom, based on Leadership
Nigeria’s petrol reserves covered 23.9 days in September, 6.1 days below the 30-day safety threshold. The situation, linked to a drop in imports and domestic deliveries, could cause supply constraints at the end of the year, according to data from Nigeria’s petroleum authority.
Nigeria’s petrol reserves remained below the 30-day safety threshold for seven consecutive months, reaching 23.9 days in September. The situation is raising fears of supply constraints as the year-end holidays approach, according to Nigeria’s downstream petroleum regulator, cited by Leadership.
Stock cover has nevertheless recovered from its low of 16.2 days in May: it rose to 19.6 days in June, 22.4 in July, 22.9 in August and 23.9 in September. The average over the seven months stands at about 20.6 days, compared with 16.9 days in September 2025, Leadership reports.
Petrol imports fell by 30% in September, to 10.2 million litres a day from 14.6 million in August. Total arrivals declined by 23%, to 38.7 million litres daily, while consumption rose by 7%, to 44.4 million litres a day. Domestic deliveries fell by 21%, to 28.5 million litres.
The decline came despite a 13% increase in output from the Dangote refinery, from 41.94 million to 47.22 million litres a day between August and September. Importers cite difficulties obtaining letters of credit from banks, while approved import permits have reportedly been almost exhausted, according to Leadership.
