Nigeria recorded an increase in petrol imports in July as the volume of petrol supplied by domestic refineries fell by 21 per cent, according to industry data.
The decline in local refinery supply increased reliance on imported petrol to meet demand across the country.
The development comes amid ongoing efforts to strengthen domestic refining capacity and reduce Nigeria's dependence on imported petroleum products.
A sustained increase in local refinery output is expected to help reduce import dependence, improve fuel supply stability and ease pressure on foreign exchange.
The latest figures have also renewed attention on the performance of Nigeria's emerging domestic refining industry and its ability to meet the country's growing petrol demand.
Post a Comment