Petrol prices across Nigeria have surged to nearly ₦1,000 per litre, as supply shortages and production issues at the Dangote Petroleum Refinery intensify pressure in the downstream sector. In response, petroleum marketers have begun moves to import fuel independently to ease the crisis and stabilise retail prices.
According to the National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Chinedu Ukadike, members of the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) are finalising plans to start importation. He said competition in the market could drive down prices once more players begin importing petrol.
Currently, petrol sells between ₦920 and ₦955 per litre in major cities like Lagos and Abuja, while some outlets charge as high as ₦1,000 per litre. The price jump follows supply disruptions at the Dangote Refinery, which reportedly suspended loading operations for private marketers due to internal reorganisation and labour-related challenges. Depot owners took advantage of the shortfall, increasing ex-depot prices from about ₦830 to as high as ₦900 per litre.
The Nigerian National Petroleum Company Limited (NNPC) has also adjusted its pump prices in response to the hike, selling petrol at around ₦928 per litre in Lagos and Ogun states. IPMAN President Abubakar Shettima blamed the surge on depot operators who inflated prices when Dangote temporarily halted supply, though he expressed optimism that the situation would soon normalise once refinery operations resume fully.
Across several states, including Sokoto, motorists have reported paying between ₦960 and ₦1,050 per litre, with many stations shut down due to scarcity. Analysts warn that the continued rise in petrol prices could trigger another wave of inflation, affecting transportation, food prices, and manufacturing, unless the refinery and marketers resolve supply bottlenecks quickly.