Oil & Energy
Fuel Import Drops As 26 Vessels Sail To Lagos
Petroleum products imports into Nigeria, slumped as just one of the 26 vessels expected into the Lagos ports between now and March 11, is conveying premium motor spirit (PMS).
Latest Shipping Position released by the Nigerian Ports Authority (NPA), and obtained by The Tide, showed that only one vessel (MV Joyce), is conveying PMS, otherwise known as petrol, while 25 other ships are laden with various products.
Other products in the vessels include; fish, salt, bulk sugar, bulk wheat, ethanol, gypsum and general cargoes.
Besides, four motor tankers laden with PMS and Jet A1 are currently awaiting berth as Lagos pilotage district, while 11 motor vessels carrying empty containers with only two laden with general cargoes are also awaiting berth at the port.
Run-off to the general elections, the last two months had witnessed high importation of petrol through Lagos, as 30 fuel-laden vessels called early this month, while 23 others came in late January.
The Nigerian National Petroleum Corporation (NNPC) figures showed that Nigerians consume an average of 53.2 million litres daily.
Recall that the Corporation had promised to meet with the December 2019 deadline proposed by the Federal Government to end the importation of refined petrol into the country.
The development is expected to pave way for local refineries in Port Harcourt, Warri, and Kaduna, to produce most of the petrol consumed in the domestic market.
Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, had earlier disclosed Nigeria would exit importation of petrol and totally depend on its own refined product, adding that a steering committee headed by him and others had been constituted to fine-tune the process.
NNPC, in a recent report stated: “NNPC is intensifying efforts towards the rehabilitation of the refineries to meet December 2019 target of ending fuel importation.”
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Digital Technology Key To Nigeria’s Oil, Gas Future

Experts in the oil and gas industry have said that the adoption of digital technologies would tackle inefficiencies and drive sustainable growth in the energy sector.
With the theme of the symposium as ‘Transforming Energy: The Digital Evolution of Oil and Gas’, he gathering drew top industry players, media leaders, traditional rulers, students, and security officials for a wide-ranging dialogue on the future of Nigeria’s most vital industry.
Chairman of the Petroleum Technology Association of Nigeria (PETAN), Wole Ogunsanya, highlighted the role of digital solutions across exploration, drilling, production, and other oil services.
Represented by the Vice Chairman, Obi Uzu, Ogunsanya noted that Nigeria’s oil production had risen to about 1.7 million barrels per day and was expected to reach two million barrels soon.
Ogunsanya emphasised that increased production would strengthen the naira and fund key infrastructure projects, such as railway networks connecting Lagos to northern, eastern, and southern Nigeria, without excessive borrowing.
He stressed the importance of using oil revenue to sustain national development rather than relying heavily on loans, which undermine financial independence.
Comparing Nigeria to Norway, Ogunsanya explained how the Nordic country had prudently saved and invested oil earnings into education, infrastructure, and long-term development, in contrast to the nation’s monthly revenue distribution system.
Chief Executive Officer (CEO) and Executive Secretary of the Major Energies Marketers Association of Nigeria (MEMAN), Clement Using, represented by the Secretary of the Association, Ms Ogechi Nkwoji, highlighted the urgent need for stakeholders and regulators in the sector to embrace digital technologies.
According to him, digital evolution can boost operational efficiency, reduce costs, enhance safety, and align with sustainability goals.
Isong pointed out that the downstream energy sector forms the backbone of Nigeria’s economy saying “When the downstream system functions well, commerce thrives, hospitals operate, and markets stay open. When it fails, chaos and hardship follow immediately,” he said.
He identified challenges such as price volatility, equipment failures, fuel losses, fraud, and environmental risks, linking them to aging infrastructure, poor record-keeping, and skill gaps.
According to Isong, the solution lies in integrated digital tools such as sensors, automation, analytics, and secure transaction systems to monitor refining, storage, distribution, and retail activities.
He highlighted key technologies including IoT forecourt automation for real-time pump activity and sales tracking, remote pricing and reconciliation systems at retail fuel stations, AI-powered pipeline leak detection, terminal automation for depot operations, digital tank gauging, and predictive maintenance.
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