The Nigerian Downstream segment of the Oil & Gas industry has witnessed a lull in recent years. Factors inhibiting growth within the industry centre around import constraints and cost unreflective pump prices- particularly for premium motor spirit (PMS) which accounts for over two-thirds of white fuel consumption. This is in addition to constrained access to credit from financial institutions given the weak financial condition of operators (particularly independent marketers), who are burdened by soaring receivables from the Federal Government of Nigeria under the Petroleum Support Fund program. Pricing of products remains a top subject, not just in Nigeria, but globally, largely driven by demand pressures vis-à-vis the ability to refine crude oil, supply dynamics of refined products and regulatory peculiarities. The 2019 report includes:
The report focuses on the marketing and distribution of white fuels – particularly petrol, diesel, household kerosene, aviation fuel and liquified petroleum gas – in Nigeria, alongside the recent market developments, regulatory changes and key factors impacting financial performance.
A wide audience range was considered in preparing this report, inclusive of