Petrol Prices Near ₦1,000 as Dangote Refinery Faces Supply Disruptions, Marketers Plan Imports

By Deborah Oladapo

Nigeria’s petrol market entered a new wave of volatility this week as pump prices approached ₦1,000 per litre nationwide, following reports of temporary supply disruptions at the Dangote Petroleum Refinery and a sharp rise in depot prices.

Findings from industry trackers and multiple market sources showed that ex-depot prices rose from an average of ₦830 last week to between ₦890 and ₦900 per litre across major depots in Lagos, Calabar, and Port Harcourt. At the retail level, pump prices climbed to between ₦920 and ₦955 per litre in most urban centres, with some filling stations in Sokoto and Gombe selling above ₦1,000.

The Dangote Refinery, which has supplied a large share of Nigeria’s petrol since mid-year, is said to have restricted loading to its own trucks and those of MRS Oil for several days — a move that marketers say tightened supply across the downstream chain. Although refinery officials have yet to issue a formal statement, industry sources linked the brief halt to internal adjustments, including ongoing maintenance and workforce restructuring.

According to Chief Executive Officer of PetroleumPrice.ng, Jeremiah Olatide, the refinery’s temporary suspension of loading “created a supply gap that depot owners immediately exploited.” He noted that petrol was selling as high as ₦900 per litre at depots such as Matrix Energy, Liquid Bulk, and RainOil.

The Nigerian National Petroleum Company Limited (NNPCL) has also adjusted prices upward, with retail outlets now selling at ₦928 per litre in Lagos and Abuja. NNPC spokesperson, Andy Odeh, said the move was in response to “market-wide increases in depot prices.”

Amid the tightening supply, independent marketers and members of the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) have begun arrangements to import petrol directly. The National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Chinedu Ukadike, confirmed that some operators had applied for import permits to boost competition and reduce prices.

“If their prices are cheaper than Dangote’s, we will have no choice but to patronise them,” Ukadike said. “That’s how the market works — wherever it’s cheaper, that’s where we buy.”

The Dangote Refinery has meanwhile continued limited distribution using Compressed Natural Gas (CNG)-powered trucks — part of its green logistics initiative — to deliver petrol at around ₦850 per litre to select regions. Analysts say this measure, though helpful, has not significantly eased retail price pressures due to broader supply bottlenecks and rising logistics costs.

Depot operators attribute the latest increases to higher crude feedstock costs and operational adjustments at both Dangote and NNPCL facilities. IPMAN President, Abubakar Shettima, accused private depots of taking advantage of the temporary loading halt to inflate prices, saying the market “will stabilise once Dangote resumes full loading operations.”

For now, motorists nationwide continue to face higher fuel costs, with transport fares and food prices expected to rise in the coming weeks. Analysts warn that the sustained increase could trigger another round of inflationary pressure on households and businesses, despite earlier hopes that local refining would drive prices down.

As of press time, neither Dangote Group nor the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) had issued an official statement on the ongoing supply challenges.