Amid persistent supply challenges and rising fuel prices, petroleum marketers have begun moves to independently import petrol as the pump price of the commodity inches closer to ₦1,000 per litre across major cities in Nigeria.

According to industry sources, production and supply disruptions at the Dangote Petroleum Refinery have created fresh pressure in the downstream oil market.

The National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Chinedu Ukadike, confirmed that members of the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) are making arrangements to begin importing petrol to help stabilise the market and lower retail prices.

Ukadike expressed optimism that the price of petrol would drop once competition increases.

“Yes, petrol prices will still come down because I know that some marketers, particularly DAPPMAN members, have applied and are set to begin importing fuel. If their prices are cheaper than Dangote’s, we’ll patronise them. The market thrives on competition — where prices are lower, that’s where we’ll buy. Prices will definitely fall when there’s a struggle for the market,” he said.

Fuel prices reportedly surged from around ₦865 to ₦950 per litre on Monday, and by Tuesday, petrol sold between ₦920 and ₦955 in many outlets. Some stations in Abuja, Sokoto, and Lagos were seen selling for as high as ₦1,000 per litre depending on location and brand.

This development comes despite expectations that prices would drop to ₦841 per litre following Dangote Refinery’s introduction of its logistics-free distribution scheme in September, which promised reduced rates across regions. However, the anticipated reduction has yet to reflect at the pumps, as prices continue to rise in Lagos, Ogun, Abuja, and other states.

In the Federal Capital Territory, petrol sold for ₦955 per litre at NNPC stations in Gwarinpa and Lugbe, while in Lagos, NNPC outlets offered it at ₦928. In Edo, Rivers, Oyo, and Gombe States, motorists paid between ₦900 and ₦1,000 per litre amid reports of long queues and panic buying.

The price spike has heightened concerns among motorists and consumers already struggling with high transport fares and food prices, potentially worsening inflationary pressures.

Depot Owners Blamed for Price Hike

IPMAN President, Abubakar Shettima, attributed the latest surge to depot operators, saying they raised prices after Dangote Refinery temporarily suspended fuel loading.

Reports showed depot prices rose from an average of ₦830 to ₦890 on Monday. Data from Petroleumprice.com indicated that Matrix, Fynefield, and Liquid Bulk sold at ₦900; Northwest ₦895; Pinnacle ₦885; RainOil ₦890; NIPCO ₦850; Aiteo ₦878; and Sigmund ₦890 per litre.

Following this, filling stations across Lagos and Ogun adjusted their prices accordingly, with NNPC retail outlets selling at ₦928 per litre—about ₦50 higher than previous levels. This reversed the August price cut, when NNPC had reduced petrol to ₦865 in Lagos and ₦890 in Abuja.

NNPC spokesperson Andy Odeh explained that the adjustment reflected changes in depot prices.

“When ex-depot prices rise, retailers have no choice but to adjust pump prices. That’s exactly what has happened across the market,” he said.

Refinery Operations Temporarily Affected

Sources revealed that the Dangote Refinery recently suspended petrol sales to marketers, leading to tight supply across the country. While the refinery has not issued an official statement, industry insiders suggest that the pause could be due to ongoing maintenance or the recent mass layoff of engineers at the facility.

IPMAN’s President, Shettima, confirmed that DAPPMAN members hiked their ex-depot prices during the refinery’s downtime.

“DAPPMAN members are the only ones selling at the moment. But Dangote is expected to resume operations soon, and when that happens, prices will drop. Once Dangote restarts sales, the market will stabilise,” he stated.

Ukadike, IPMAN’s Publicity Secretary, further linked the price increase to temporary disruptions at the refinery and sharp practices by some private depot owners. He said internal reorganisation and labour-related issues had slowed loading operations.

“There’s some reorganisation ongoing at the refinery, and the NUPENG strike also caused a brief disruption in fuel refining and distribution. Both Dangote and NNPC have since raised their prices, reflecting current market conditions. Retailers are adjusting just to stay afloat,” he explained.

He added that some depot owners were taking advantage of the tight supply to increase prices, worsening the situation for consumers.

Industry Experts Raise Concerns

The Major Energies Marketers Association of Nigeria (MEMAN) confirmed in its daily bulletin that the Dangote Refinery had suspended gantry loading for most private marketers since last week, limiting sales to its own and MRS trucks.

PetroleumPrice.ng CEO, Jeremiah Olatide, said operational disruptions at the refinery have caused the latest scarcity and price increases.

“Currently, Dangote is only loading its own trucks and those of its affiliate, MRS. Private marketers haven’t been able to lift products for several days,” Olatide noted.

He attributed the disruption to crude supply shortages and the recent layoff of about 800 refinery staff, which have further strained operations.

“They’re facing crude supply issues, and the loss of 800 staff has compounded the challenge. These are the main reasons for the current supply shortage,” he explained.

Olatide likened the crisis to the earlier gas supply challenges and warned that reduced output from the refinery could destabilise the downstream market.

Sokoto Residents Lament Soaring Prices

In Sokoto State, residents expressed frustration as pump prices rose to between ₦960 and ₦1,050 per litre across several outlets. Both independent and major marketers were affected, while NNPC stations remained closed for days.

At AA Rano stations, prices increased from ₦930 to ₦960, while some independent stations sold between ₦1,000 and ₦1,050 per litre.

One motorist described the hardship motorists face:

“I heard a litre is now ₦992 in Lagos. I had to borrow money just to buy fuel. I’ve been on the queue for nearly an hour—it’s really unfortunate.”

With petrol prices nearing ₦1,000 per litre, experts warn that another wave of inflation could hit the transport, food, and manufacturing sectors, even as Nigerians await stable supply from the 650,000 barrels-per-day Dangote Refinery.

Efforts to reach the refinery’s spokesperson, Anthony Chiejina, for comments were unsuccessful as calls and messages went unanswered.