The Nigerian National Petroleum Corporation (NNPC) imported 6.2bn litres of premium motor spirit (PMS) popularly known as petrol, last year to remain one of Africa’s highest petrol importers.

The imports were made through the Offshore Processing Arrangements (OPA), a system whereby NNPC allocates more than 200,000 barrels of crude oil to another party who would refine abroad and then return the refined products to NNPC.

Africa’s most advanced economy, South Africa, is nowhere close to Nigeria in terms of imports of petroleum products.

South Africa imports around 2bn to 3bn litres of PMS every year, according to data sourced from South Africa’s Department of Energy. Import rise yearly as the country’s refineries are unable to meet growing demands.

NNPC, in its financial and operations report for 2015, revealed that a total of 7.7bn consisting 6.2bn litres of PMS and 1.5bn litres of dual purpose kerosene were imported into the country last year.
The highest imports for the year were in March and December when the corporation imported close to 1 billion litres of PMS to quell the scarcity that hit the country at those periods.
The report revealed that a total 977m litres of PMS was imported in December, while 928m litres was shipped to Nigeria in March.

Despite being Africa’s top crude oil producer, Nigeria imports more than 80 per cent of its petroleum products because of its low domestic refining capacity.
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