Nigeria’s fuel crisis deepened on Tuesday as pump prices of petrol surged close to ₦1,000 per litre across major cities, following supply disruptions linked to operational issues at the Dangote Petroleum Refinery and rising ex-depot prices at private depots.
The Independent Petroleum Marketers Association of Nigeria (IPMAN) confirmed that marketers are now making moves to import petrol independently to ease the growing supply pressure and stabilise prices in the downstream oil market.
Marketers Plan Fresh Importation
Speaking with The PUNCH, the National Publicity Secretary of IPMAN, Chinedu Ukadike, said members of the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) were finalising plans to begin fuel importation.
“Yes, petrol prices will come down because some DAPPMAN members have applied to import fuel. If their prices are cheaper than Dangote’s, marketers will naturally patronise them. Competition will force prices down,” Ukadike said.
Prices Hit New Highs Nationwide
Checks revealed that petrol prices rose from about ₦865 to ₦950 per litre on Monday and now sell between ₦920 and ₦955 in many filling stations. Some outlets in Abuja, Lagos, and Sokoto sold at ₦1,000 per litre, depending on location and brand.
This comes barely a month after Dangote Refinery promised to lower pump prices to ₦841–₦851 per litre under its logistics-free fuel distribution scheme — a plan yet to reflect in retail stations.
Depot Owners Blamed for Price Hike
IPMAN President, Abubakar Shettima, blamed depot owners for the sudden price increase, saying they raised their ex-depot prices after Dangote Refinery halted fuel loading for several days.
“Dangote has not been selling to marketers since the past few days. Immediately the depots saw that, they increased their prices. But once Dangote resumes loading, prices will drop again,” Shettima explained.
Data from Petroleumprice.com showed that depots such as Matrix, Liquid Bulk, and Fynefield sold petrol at ₦900 per litre on Tuesday, while Northwest, Pinnacle, and RainOil priced between ₦885–₦895.
Consequently, filling stations adjusted their pump prices to reflect the new regime. NNPC Retail outlets raised prices to ₦928 per litre in Lagos and Ogun — an increase of about ₦50 from last week.
Dangote Refinery Faces Operational Setbacks
Sources within the downstream sector revealed that the Dangote Refinery temporarily halted fuel loading due to internal reorganisation and technical challenges, including the recent mass layoff of about 800 engineers.
Ukadike confirmed that refinery operations had slowed because of “labour disruptions and supply glitches,” while also attributing the crisis to sharp practices by private depot owners exploiting limited supply.
“There is a reorganisation going on, and the NUPENG strike affected supply. Dangote increased its pump price, and NNPC followed suit. The market is simply reacting to supply pressures,” he said.
Shortage Hits Private Marketers
According to PetroleumPrice.ng CEO, Jeremiah Olatide, the refinery has suspended gantry loading for most private marketers since last Thursday, restricting sales to its own and MRS trucks.
“Depot marketers are not allowed to load products for now. The refinery is only loading its own trucks and MRS. Those with Product Finance Instruments have been unable to lift for days,” Olatide revealed.
He warned that the situation mirrors Nigeria’s earlier gas supply crisis, saying “reduced output at the refinery is already distorting the downstream market.”
Prices Soar in Sokoto, Queues Worsen
In Sokoto State, residents reported paying between ₦960 and ₦1,050 per litre, as filling stations adjusted prices amid scarcity. All NNPC outlets in the metropolis have reportedly remained closed for a week.
A motorist at an AA Rano station said: “Fuel was ₦930 before, but now it’s ₦960. I had to borrow money from my wife just to buy. This is getting unbearable.”
Inflationary Fears Grow
Analysts warn that the latest fuel price surge could trigger another round of inflationary pressure, worsening transportation, food, and production costs nationwide.
Meanwhile, efforts by journalists to reach Dangote Refinery spokesperson, Anthony Chiejina, for comment were unsuccessful, as calls and messages to his phone were not returned.
