The development comes amid persistent supply constraints and reported production hitches at the Dangote Petroleum Refinery, which has dominated local fuel supply in recent months.
National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Chinedu Ukadike, confirmed in a phone interview with The PUNCH on Tuesday that members of the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) were finalising arrangements to begin petrol importation.
According to Ukadike, the move aims to inject competition into the downstream sector and ultimately bring down pump prices.
“Yes, petrol prices will still come down because I know some marketers, especially DAPPMAN members, have applied to import petrol. If their prices are cheaper than Dangote’s, we will have no choice but to patronise them. That’s how the market works—where it’s cheaper, we’ll buy,” he explained.
Fuel prices, which hovered around ₦865 per litre last week, rose sharply to between ₦920 and ₦955 per litre on Monday, with some retail outlets in Lagos, Abuja, and Sokoto selling as high as ₦1,000 per litre.
Field checks by Brand Icon Image showed widespread price variations across filling stations, with major marketers citing supply bottlenecks and distribution costs. In Abuja, petrol sold for ₦955 at NNPC outlets in Gwarinpa and Lugbe, while Lagos outlets dispensed at ₦928. Similar trends were observed in Edo, Rivers, Oyo, and Gombe states, where prices ranged from ₦900 to ₦1,000 per litre amid growing queues and panic buying.
The latest surge contrasts sharply with expectations that prices would drop to about ₦841 per litre following Dangote Refinery’s announcement of a logistics-free distribution scheme on September 15. The refinery had projected retail prices of ₦841 in the South-West and ₦851 in Abuja, Edo, Kwara, Rivers, and Delta states. However, these price reductions are yet to reflect at filling stations.
With inflation already at record highs, motorists and consumers fear that the sustained rise in petrol prices will further drive up transportation and food costs, worsening the country’s cost-of-living crisis.
Depot Owners Blamed as Petrol Prices Surge
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has accused private depot owners of triggering the latest round of petrol price increases following a temporary halt in loading activities at the Dangote Petroleum Refinery.
IPMAN President, Abubakar Shettima, told The PUNCH that depot owners took advantage of the situation to sharply raise ex-depot prices, worsening the hardship on consumers already burdened by soaring fuel costs.
According to him, the Dangote Refinery, which supplies a large share of the domestic petrol market, suspended loading operations for several days—creating a supply gap that prompted depots to raise their prices from an average of ₦830 per litre to about ₦890 on Monday.
Market data from Petroleumprice.com showed that Matrix, Fynefield and Liquid Bulk depots sold petrol at ₦900 per litre on Tuesday, while Northwest offered ₦895, Pinnacle ₦885, RainOil ₦890, NIPCO ₦850, Aiteo ₦878 and Sigmund ₦890.
As depot prices spiked, filling stations across Lagos, Ogun, Abuja and other major cities adjusted pump prices to between ₦900 and ₦950 per litre, with NNPC retail outlets now selling at ₦928—an increase of about ₦50 from the previous ₦870.
This marks a reversal of the August price cuts when the Nigerian National Petroleum Company Limited (NNPCL) reduced prices to ₦865 per litre in Lagos and ₦890 in Abuja.
NNPC spokesperson, Andy Odeh, confirmed that the company’s retail outlets were forced to adjust prices in response to higher depot rates.
“The ex-depot prices have gone up. All filling stations are retailers, so when depot prices rise, retail outlets must adjust accordingly. It’s a market-wide effect,” Odeh explained.
Meanwhile, findings indicate that the Dangote Refinery temporarily stopped fuel loading to marketers, leading to scarcity concerns across the supply chain. The refinery has yet to officially comment, but sources attributed the halt to possible maintenance work or disruptions following the recent dismissal of several engineers.
Shettima, speaking further, said the refinery might resume sales soon, which could help stabilise prices.
“These DAPPMAN people are the only ones selling now. But probably Dangote will start tomorrow. Once they resume, prices will drop. The hike was simply because Dangote stopped loading temporarily,” he said.
Corroborating the position, IPMAN National Publicity Secretary, Chinedu Ukadike, cited temporary supply glitches and internal restructuring at the Dangote Refinery, worsened by the recent NUPENG strike, as the main causes of the disruption.
“There’s an ongoing reorganisation at the refinery, and the workers’ strike caused delays in supply and refining. Both Dangote and NNPCL have raised their prices, and retailers are only adjusting to stay afloat. The issue now isn’t exchange rate—it’s production and supply factors,” Ukadike said.
He further accused depot owners of exploiting the limited supply window to inflate ex-depot prices, thereby worsening the pump price burden on motorists and transporters nationwide.
The lingering crisis in the downstream sector has deepened public concern as the price of petrol—now nearing ₦1,000 per litre in some states—continues to exert upward pressure on transport fares, food prices, and general inflation.
Dangote Refinery Halts Loading, Triggers Fresh Petrol Scarcity, Price Hike Across States
Nigeria’s fuel crisis deepened this week as the Dangote Petroleum Refinery reportedly suspended gantry loading for most private marketers, a move that has tightened supply and pushed petrol prices closer to ₦1,000 per litre nationwide.
The Major Energies Marketers Association of Nigeria (MEMAN) confirmed in its daily bulletin, posted on its official X handle, that the refinery had restricted loading to its own trucks and those of its affiliate, MRS Oil, since last Thursday. This restriction, according to the group, has created shortages at independent filling stations across the country.
Further confirming the disruption, Chief Executive Officer of PetroleumPrice.ng, Jeremiah Olatide, said the refinery’s operations have been constrained by a combination of crude supply shortages and internal labour issues, including the recent layoff of about 800 workers.
“The refinery has suspended gantry sales to private depot owners since last week. It’s currently loading only its last-mile delivery trucks and those belonging to MRS. Marketers with Product Finance Instruments have been unable to lift fuel for several days,” Olatide said in a phone interview.
He explained that the refinery’s dwindling output and limited loading activities were already distorting downstream fuel distribution — a situation he likened to the recent gas supply crisis.
“Basically, they are having issues with crude, and the 800 staff that were laid off is also a challenge to them. All these have contributed to the supply glitch we’ve experienced in the last week,” he added.
As supply tightened, private depot owners responded by hiking prices, with petrol now selling between ₦895 and ₦900 per litre at major depots such as Matrix, Fynefield, Liquid Bulk, and RainOil. Some depots, previously buying at ₦820 per litre from Dangote, have suspended sales altogether while considering further price increases.
Olatide confirmed that only MRS and Dangote’s own trucks were allowed to load products as of Tuesday, leaving other marketers stranded.
“Depot marketers were not allowed to load products today. It was only for MRS and Dangote’s personal trucks. Private marketers’ trucks are not being served for now,” he disclosed.
The supply squeeze has sent retail prices skyrocketing across states. In Sokoto, motorists on Tuesday bought petrol between ₦960 and ₦1,050 per litre, depending on the station. Findings by The PUNCH showed that all NNPC filling stations in the metropolis have remained shut for nearly a week, while independent and major marketers have raised their prices to reflect the new market realities.
At AA Rano filling station, the pump price was adjusted from ₦930 to ₦960, while other stations across the state sold as high as ₦1,050 per litre.
A motorist at one of the stations lamented the situation, saying he had to borrow money from his wife to afford fuel.
“I’ve been here for about 40 minutes trying to buy. I heard NNPC sells at ₦992 in Lagos—only God knows what it will be here in Sokoto,” he said.
With petrol prices now nearing ₦1,000 per litre across major cities, analysts warn of another wave of inflationary shocks affecting transportation, food, and manufacturing sectors.
Efforts to reach Dangote Refinery spokesperson, Anthony Chiejina, for clarification were unsuccessful, as calls and messages sent to his phone were not responded to.
Meanwhile, marketers under IPMAN and DAPPMAN are intensifying plans to independently import petrol to cushion supply gaps and introduce competition that could help stabilise pump prices in the coming weeks.