Fuelish Fantasies: NNPCL’s Petrol Import Spree Defies Logic, Dangote Refinery, and Basic Arithmetic

Fuelish Fantasies: NNPCL’s Petrol Import Spree Defies Logic, Dangote Refinery, and Basic Arithmetic

Jerry Adesewo

In a masterclass of economic irony, Nigeria’s state oil behemoth, the Nigeria National Petroleum Company Limited (NNPCL), has spent February 2025 doing what it does best: importing staggering quantities of petrol and diesel while local refineries—including the much-vaunted Dangote megaproject—twiddle their thumbs. Why let pesky things like “domestic production” or “common sense” get in the way of a good old-fashioned import binge?

The Numbers Game: A River of Fuel, A Desert of Logic

Fresh data reveals that between 1-12 February 2025, NNPCL imported 213 million litres of Premium Motor Spirit (petrol) and 40 million litres of diesel. For those keeping score, roughly N407.4 billion squandered in 12 days. But fret not! This is merely a continuation of Nigeria’s beloved tradition of haemorrhaging cash on fuel imports, having blown N5.5 trillion on the habit since October 2024. Who needs functioning refineries when you’ve got a bottomless treasury and a flair for fiscal recklessness?

Read Also: Dangote Refinery’s Price Cut: A Lifeline for Nigerians Amid Economic Struggles

The pièce de résistance? This import spree comes hot on the heels of NNPCL’s triumphant announcements that its Warri and Port Harcourt refineries—after swallowing nearly $1 billion in “rehabilitation” costs—are finally operational. One might naively assume this would curb imports. Alas, in Nigeria’s parallel universe, “operational” appears to mean “capable of producing press releases, not petrol.”

Dangote’s Dilemma: A Refinery in Search of a Purpose

Enter the Dangote Refinery, Africa’s largest oil-processing facility, which began operations in 2024 with the promise of ending Nigeria’s humiliating fuel import dependency. With a capacity of 650,000 barrels per day, it could theoretically meet domestic demand and even supply neighbouring nations. Yet, here we are: Dangote is locked in a legal tiff with NNPCL and marketers over their baffling insistence on importing products the refinery already produces. It’s almost as if someone forgot to tell NNPCL that the point of building a refinery is to, well, ‘refine’.

Sources whisper that Dangote’s storage tanks are brimming with unsold fuel, while NNPCL merrily orders tankerloads from abroad. One imagines Aliko Dangote himself staring at his gleaming refinery, muttering, “I built this for a reason, yes?”

ECOWAS’s Clean Fuel Deadline: Nigeria’s ‘Hold My Beer’ Moment

In 2020, ECOWAS—ever the optimists—set a January 2025 deadline for West African nations to adopt cleaner fuels with sulphur content below 50ppm. Nigeria, ever the regional leader, responded by… ignoring the rule entirely. Industry insiders reveal that imported petrol and diesel still contain sulphur levels akin to toxic soup, because why let “environmental health” or “international commitments” spoil the fun?

An exasperated energy expert quipped, “It’s like hosting a vegetarian conference and serving steak. Nigeria chairs ECOWAS but is busy importing pollution. Classic.” The NMDPRA, Nigeria’s regulator, has responded to the scandal with its signature move: radio silence.

NNPCL’s Creative Accounting: 30 Million Litres a Day? Let’s Import 100 Million!

Here’s where the plot thickens. Nigeria’s daily petrol consumption stands at 30 million litres. Yet, on 10 February alone, NNPCL imported 99.2 million litres. When questioned, officials offered this airtight explanation: A senior government source (who probably needs a stiff drink) summed it up: “Even if the refineries were made of papier-mâché, this import volume makes no sense. It’s either staggering incompetence or a magic trick— ‘Now You See the Cash, Now You Don’t!’”

President Tinubu, who rode to power on vows of economic reform, and Petroleum Minister Heineken Lokpobiri (yes, that’s his real name) have yet to clarify why NNPCL is haemorrhaging funds on imports while “functional” refineries gather dust. Perhaps they’re too busy marvelling at NNPCL’s audacity.

The ‘Refinery Rehabilitation’ Farce

Let’s revisit NNPCL’s refinery revival saga. The Warri Refinery, approved for a $897 million facelift in 2021, was declared “restarted” in December 2024. The Port Harcourt Refinery, too, supposedly resumed operations. Cue confetti! But like a Nollywood cliffhanger, the promised fuel independence never materialised. Instead, imports surged. Critics suggest the refineries’ primary output is hot air, not hydrocarbons.

A Nation Addicted to Absurdity 

Nigeria’s fuel import addiction would be laughable if it weren’t so catastrophic. While Dangote’s refinery languishes in bureaucratic purgatory, NNPCL’s import orgies continue draining forex reserves, polluting cities, and subsidising ineptitude. Tinubu’s reformist agenda? More like ‘Groundhog Day’ with higher stakes.

As ordinary Nigerians queue at petrol stations, paying for fuel that’s either imported or imaginary, one wonders: when will the farce end? Perhaps when NNPCL’s tankers finally run out of ocean—or shame. Until then, grab your popcorn. Nigeria’s fuel drama is showing no signs of cancellation.

 

 

 

 

Fuelish Fantasies: NNPCL’s Petrol Import Spree Defies Logic, Dangote Refinery, and Basic Arithmetic