Petrol Price Nigeria: Marketers Blame Depots as Fuel Nears N1,000/Litre
By: Abudu Olalekan
Meta Description: Petrol price in Nigeria surges towards N1,000 per litre, with marketers accusing depots of price gouging. Discover the supply glitches at Dangote Refinery fueling this crisis and what it means for everyday Nigerians. (148 characters)
Focus Keyword: Petrol Price Nigeria
Picture this: You’re cruising down a Lagos street, dashboard light blinking empty. You pull into the nearest station, bracing for the hit. Last week, it was N865 a litre. Now? It’s pushing N950, sometimes even N1,000. Ouch. That’s the harsh reality hitting motorists across Nigeria right now. Petrol prices are skyrocketing, and everyone’s pointing fingers—mostly at the depots.
It started with whispers of supply hiccups. Then, bam. Prices jumped from N865 to N950 overnight. Reportersroom checks on Tuesday confirmed it: In Abuja, Sokoto, Lagos—places like Gwarinpa, Lugbe, even Ogun—stations are charging N920 to N955. Some bold ones? Straight up N1,000, depending on the spot and the brand. Folks in Edo, Rivers, Oyo, Gombe? They’re shelling out N900 to N1,000 too. Queues snake around blocks. Panic buying. It’s chaos.
Why? Blame the depots, say the marketers. Chinedu Ukadike, National Publicity Secretary for the Independent Petroleum Marketers Association of Nigeria (IPMAN), spilled it in a quick phone chat with Reportersroom. “Depots jacked up prices when they saw Dangote Refinery hit pause on loading,” he said. See, Dangote stopped fuel lifts for days. Production glitches, they call it. Maintenance? Layoffs? Who knows. But depots like Matrix, Fynefield, Liquid Bulk? They’re selling at N900 now. Northwest at N895, Pinnacle N885, RainOil N890. Even NIPCO’s at N850, Aiteo N878, Sigmund N890. Ex-depot prices leaped from N830 to N890 on Monday alone.
IPMAN’s President, Abubakar Shettima, didn’t hold back. “These DAPPMAN folks—Depot and Petroleum Products Marketers Association—are the only game in town right now,” he told Reportersroom. “Dangote’s not loading. Their trucks are scarce. So, depots hike, and we retailers? We pass it on. But it’s temporary. Dangote starts tomorrow, prices drop.” He sounded hopeful. Casual, even. Like chatting over garri.
Remember that promise from Dangote? Back on September 15, they launched a “logistics-free” scheme. South West: N841 a litre. Abuja, Edo, Kwara, Rivers, Delta: N851. Sounded like relief after months of pain. But nope. Prices climbed past N900 instead. Nigerians waited. Hoped. Got queues and empty tanks.
NNPC’s in the mix too. Their outlets? N928 in Ogun and Lagos now—up N50 from N870. Abuja hit N890 before, now higher. Spokesperson Andy Odeh kept it straightforward: “Ex-depot prices rose. We’re retailers like everyone. Adjust or bust.” Simple math, right? But it stings.
Ukadike chimed in again, mixing frustration with facts. “There’s reorganisation at Dangote. NUPENG strike caused glitches—workers walking out, supply slowing.” He paused. “Depots are sharp. They see tight stock, boom—prices up. It’s reflective. Suppliers hike, we follow for a slim profit.” No dollar drama anymore, he added. Just production woes.
Major Energies Marketers Association of Nigeria backed it up in their daily X bulletin. Dangote suspended gantry loading last Thursday. Only their trucks and MRS get fuel. Private marketers? Left high and dry. Jeremiah Olatide, CEO of PetroleumPrice.ng, nailed it: “Low stock. They’re managing with their own rigs. PFIs? Useless for days.” He blamed crude shortages, those 800 layoffs. “Like the gas crisis all over again. Supply glitch distorting everything.”
In Sokoto, it’s grim. Residents grumble as prices hit N960 to N1,000. NNPC stations? Closed a week. AA Rano jumped from N930 to N960. Independents? N1,000 to N1,050. One motorist, queuing 40 minutes, borrowed from his wife. “Even without cash, I gotta. Heard Lagos NNPC’s N992. God help Sokoto.” His voice cracked. Unfortunate, he muttered.
This spike? It’s not just fuel. Transportation costs soar. Food prices follow. Inflation? Roaring back. Analysts warn: Another shockwave for manufacturing, daily life. All eyes on that 650,000 bpd Dangote beast. Stable supply? Still a dream.
Reportersroom tried reaching Dangote’s Anthony Chejina. Calls ignored. Texts unread. Silence.
But here’s the twist—marketers are fighting back. DAPPMAN’s wrapping up import deals. Ukadike’s optimistic: “Competition’s key. If their petrol’s cheaper than Dangote’s, we’ll buy. Struggle for market? Prices tumble.” Fingers crossed. For now, fill up quick. This ride’s bumpy.
