As Nigerians grapple with escalating petrol costs, a total of 129,000 metric tonnes of Premium Motor Spirit (PMS) and Automotive Gas Oil (AGO) are expected to arrive at Lagos Ports between March 14 and 17, 2026, offering temporary relief to a market under pressure.
According to the Nigerian Ports Authority’s Shipping Position Daily obtained on Monday, vessels carrying both petrol and diesel have been scheduled to dock at strategic terminals across Lagos. The vessel Mosunmola, transporting 20,000MT of PMS, arrived at Lagos Ports via the Bulk Oil Plant on Sunday, March 14, while Kobe, carrying 22,000MT of AGO, docked at Kirikiri Lighter Terminal Phase 2, Tin Can Island Port, on the same day.
Further arrivals include Bora, scheduled for Kirikiri Lighter Terminal 3B on Tuesday, March 17, with 27,000MT of PMS, and Ashabi, delivering 30,000MT of AGO to the same terminal. Calabar Ports will also receive PMS shipments: Oluwajuwonlo offloaded 15,000MT on Sunday, March 15, and Mosunmola is set to deliver an additional 15,000MT on March 17 via North West Petroleum Gas Co Limited.
Rising Prices, Market Reactions
The influx of imported fuel comes amid nationwide surges in petrol prices. Dangote Petroleum Refinery recently raised its gantry price for PMS to N1,175 per litre, sending retail prices above N1,200 per litre and triggering increases in transport fares and the cost of goods. Analysts and labour unions have urged the Federal Government to consider relief measures, citing tensions between the United States and Iran as a driver of rising crude oil prices. Some have suggested targeted subsidies to cushion the impact on households and businesses, warning that continued price growth could worsen inflation.
Petrol currently sells for between N1,200 and N1,300 per litre in several locations, with projections indicating costs could approach N1,500–N2,000 per litre if Middle East tensions persist.
Independent Marketers Ready to Respond
The Independent Petroleum Marketers Association of Nigeria (IPMAN) affirmed that independent marketers are prepared to lift imported products to maintain availability and competition. Spokesperson Chinedu Ukadike explained that some shipments might be operating under licences issued in the previous year, and delays at sea—particularly around the Strait of Hormuz—may account for their late arrival.
Ukadike noted, “The imported products would not necessarily impact prices unless crude oil costs fall. Availability is key. Where the product is in depots or NNPC tanks, we will purchase it.”
NMDPRA Clarifies Licensing Position
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) reiterated that no new petrol import licences were issued in the first quarter of 2026. The agency attributed recent imports to leftover stocks from January and output from domestic refineries, particularly Dangote Petroleum Refinery, which produced an average of 36 million litres per day in February—short of the national daily consumption of about 56 million litres.
A NMDPRA source explained that unused refinery stocks were rolled over due to weather-related export delays in Europe at the end of 2025, helping to cover the February shortfall. The regulator also denied online claims that new licences had been granted, noting that import licences are issued quarterly and the current arrivals largely reflect previously issued authorisations.
NMDPRA Chief Executive Saidu Mohammed emphasized the importance of domestic refining in reducing import dependence, saying, “We have not issued a single licence for petrol importation this year. Some interests still push for large-scale importation despite our progress in domestic refining.”
The Road Ahead
While the vessel arrivals will bolster supply and temporarily ease market pressures, experts caution that sustained fuel price relief will depend on both crude oil market trends and domestic refining output. The current shipments illustrate the complex interplay between past import licences, logistical delays, and ongoing efforts to meet national demand without returning to heavy import dependence.
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