No fewer than 355 million litres (263,000 tonnes) of Premium Motor Spirit (PMS) worth N431 billion have been shipped into the country in May.

The figure represents a 40 per cent increase in shipment within one month of issuance of import licence to six marketing companies by Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). A total of 158,000 tonnes was shipped through the Lagos port jetties at ASPM jetty, Bulk Oil Jetty (BOJ), Kirikiri Lighter Terminal Phase 3a; Lister Oil Jetty (LOJ) and Pinnacle, Lekki in Lagos in April 2026.

The beneficiaries, who were licensed to import 960 million litres (720,000 tonnes) of petrol, are NIPCO, AA Rano, Matrix, Shafa, Pinnacle, and Bono. Findings from the Nigerian Ports Authority (NPA)’s shipping data revealed that five ships were engaged in the shipments of the fuel to Lagos and Calabar jetties.

It noted that a vessel, Dune, berthed at Pinnacle terminal to discharge 70,000 tonnes; Sabaek, 110,000 tonnes; Pinarello, 38 000 tonnes; Zonda, 25,000 tonnes at Kirikiri Lighter Terminal (KLT) Phase 3a and Savanna with 20,000 tonnes at Calabar Port jetty as port landing price reached N1,215 per litre.

The landing price comprise of Cost, Insurance and Freight (CIF), shipping, freight and insurance charges, port handling and terminal charges by Nigerian Ports Authority, Nigerian Maritime Administration and Safety Agency (NIMASA) and other agencies. Findings revealed that a total of 182 million litres was imported in March but shipment was reduced to 158 million litres in April.

The authority disclosed that the country imported an estimated 1.8 billion litres of PMS in the first quarter of 2026 when the landing price was stable at between N930 and N940 per litre, saying the imports stood at 24.8 million litres per day in January 2026, translating to 798.8 million litres for the month; however, figure declined sharply in February to just 3 million litres per day, equivalent to 84 million litres, before recovering slightly to 5.9 million litres per day or 182.9 million litres in March. It was gathered that the overall supply was 39.5 million litres per day, well below the 52 million litres per day average benchmark.

According to the authority, domestic supply peaked at 40.1 million litres per day in January and remained elevated at 36.5 million litres per day in February and 34.2 million litres per day in March, effectively offsetting part of the import shortfall.

Meanwhile, NPA shipping data in February revealed that two vessels berthed at ASPM jetty to deliver 30,000 tonnes from Princess Oge laden with 15,000 tonnes each, noting that Um Balwa offloaded 28,000 tonnes of its cargo at BOJ in Apapa, while another two vessels, named Princess Oge discharged 20,000 tonnes each at KLT’s Phase 3a. The data also revealed that STI Magnetic offloaded 30,000 tonnes at Pinnacle Jetty in Lekki, while Kingis discharged 15,000 tonnes at Lister Oil Jetty (LOJ).