Nigeria plans to create a national strategic petroleum products stockpile in 2025 to protect its economy against global supply disruptions.
This initiative, mandated by Nigeria’s petroleum industry law, aims to ensure energy security and stability in fuel supply amidst frequent shortages.
The reserves will exceed the current 30-day supply buffer and be modeled after the US Strategic Petroleum Reserve.
The project leverages Nigeria’s growing domestic refining capacity, particularly the Dangote Refinery and five smaller facilities, which have collectively reduced gasoline imports significantly.