Nigeria’s downstream oil regulator, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), issued 830,000 metric tons (~6.97 million barrels) in Premium Motor Spirit (PMS/gasoline) import licenses for the fourth quarter of 2026 on September 18.
The volume—equivalent to approximately 75,800 barrels per day (bpd) through the end of December—matches the Q3 allocations issued in June and will be distributed across six licensed oil marketing companies.
The regulatory move underlines the government’s strategy of maintaining import channels to prevent domestic supply crunches and foster market competition alongside domestic production from the 700,000 bpd Dangote Petroleum Refinery.
Market Dynamics & Strategic Context
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Hedging Global Market Strain: The issuance comes as international refined product markets face tight supply and steepening gasoline backwardation (where prompt prices command a premium over future delivery) driven by Middle East geopolitical tensions. Securing Q4 import commitments early ensures domestic buffer stocks through the high-demand holiday period.
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Regulatory Dual-Track Competition: Despite the Dangote Refinery operating at full 700,000 bpd nameplate capacity and supplying the bulk of domestic PMS demand[, the NMDPRA continues to exercise its mandate under the Petroleum Industry Act (PIA) to grant selective import licenses. The regulator maintains that maintaining parallel import options prevents single-supplier market dominance and anchors competitive pricing across domestic gantries.
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