Petrol prices across Nigeria have surged to between N920 and N1,000 per litre in major cities, driven by supply constraints and production issues at the Dangote Petroleum Refinery, prompting petroleum marketers to explore independent importation to stabilize prices.
The Independent Petroleum Marketers Association of Nigeria (IPMAN) and the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) report that depot owners raised ex-depot prices from N830 to around N890–N900 per litre after the Dangote Refinery halted fuel loading for most private marketers since last Thursday. This has led to widespread price hikes, with NNPC outlets selling at N928 in Lagos and Ogun (up from N870–N890), and some stations in Abuja, Sokoto, and Lagos charging up to N1,000 per litre.
IPMAN National Publicity Secretary Chinedu Ukadike attributed the price surge to temporary supply disruptions at the 650,000-barrel-per-day Dangote Refinery, citing internal reorganization, a NUPENG strike, and the layoff of about 800 workers. He noted that DAPPMAN members are preparing to import petrol, which could lower prices through increased competition. “If their prices are cheaper than Dangote’s, we will patronize them. Prices will drop once there’s a struggle for the market,” Ukadike said.
IPMAN President Abubakar Shettima blamed depot owners for capitalizing on the refinery’s “no-loading” situation, which has left marketers reliant on limited supplies. He expressed optimism that prices would stabilize if Dangote resumes loading soon.
The Major Energies Marketers Association of Nigeria confirmed that the refinery restricted sales to its own trucks and those of its affiliate, MRS, exacerbating shortages at independent outlets. Jeremiah Olatide, CEO of PetroleumPrice.ng, highlighted operational challenges, including crude supply shortages and reduced output, as key factors. “The refinery is prioritizing its last-mile delivery trucks, leaving private marketers unable to load,” he said, noting that private depots have halted sales and are planning further price increases.
In Sokoto, fuel prices have risen from N930–N960 to N960–N1,050 per litre, with NNPC stations closed for the past week. Motorists reported long queues and panic buying, with one resident lamenting borrowing money to afford fuel amid the scarcity.
The price surge, far above Dangote’s promised N841–N851 per litre, has fueled concerns about rising transportation, food, and manufacturing costs, compounding Nigeria’s inflationary pressures. Efforts to reach Dangote Refinery spokesperson Anthony Cheijina for comment were unsuccessful.
Analysts warn that without a swift resolution to the supply glitches, the downstream market could face further disruptions, undermining expectations of stable fuel supply from the Dangote Refinery.
