Bloomberg . The “dire” shortage, which has reached “force majeure” proportions, requires 625,000 barrels per day of gasoline imports daily to be quelled, Ndu Ughamadu, a spokesman for the Nigeria National Petroleum Corp., said. The state-run company is taking action to “increase supply and replenish strategic reserves,” by offering more favorable terms for existing fuel swap arrangements. A 100 million-liter order is equal to roughly 629,000 barrels. The NNPC is the nation’s only gasoline importer and its Direct Sale-Direct Purchase program is failing to bring in adequate fuel supplies. The program, which currently trades out 800,000 barrels per day of crude in return for refined products, is due to be renewed in April, but its future may now be in jeopardy. Despite being Africa’s largest crude oil producer, Nigerian refining capacity is low, which has forced the government to spend foreign currency reserves on purchases of refined oil goods. […]