Nigeria’s petroleum industry uses several technical terms to describe fuel products, distribution and energy supply, many of which directly affect consumers and businesses.
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), in its August 2026 midstream and downstream statistics factsheet, has listed key industry abbreviations and their meanings.
Among them is Premium Motor Spirit (PMS), the industry’s official term for petrol, which powers most petrol-driven vehicles in Nigeria.
Automotive Gas Oil (AGO), commonly known as diesel, is another major petroleum product used by commercial vehicles, generators and industrial equipment.
The factsheet also identifies Aviation Turbine Kerosene (ATK), the fuel used by aircraft turbine engines, and Liquefied Petroleum Gas (LPG), commonly used for domestic cooking and other applications.
It lists Oil Marketing Companies (OMCs), which operate in the marketing and distribution of petroleum products, as well as the Nigerian National Petroleum Company Limited (NNPC), the state-owned national oil company.
Other abbreviations include Million Barrels per Day (mb/d), a measure of daily oil production or supply, and Million Litres per Day (ml/d), used to express liquid volumes handled daily.
The factsheet also defines the Nigerian Foreign Exchange Market (NFEM), reflecting the importance of foreign exchange in an industry where crude oil, refined products and associated transactions may involve dollar-denominated costs.
Understanding these terms helps consumers interpret petroleum market reports, fuel supply data and industry developments more accurately.