Fuel marketers across Nigeria have slowed or paused purchases from the Dangote Petroleum Refinery amid uncertainty over a new pricing structure reportedly tied to the US dollar.
Industry sources say the hesitation is driven by fears that petrol prices could suddenly drop after bulk purchases, leading to losses. Current depot prices range between ₦1,200 and ₦1,300 per litre, with marketers unsure what new shipments or imports will cost.
The Independent Petroleum Marketers Association of Nigeria (IPMAN) confirmed that while fuel distribution has not stopped, volumes have reduced significantly. Some filling stations, particularly in the South-West, have temporarily closed after running out of stock, as operators wait for price clarity.
However, Dangote Refinery has denied claims that fuel loading has stopped, insisting operations are ongoing.
At the center of the dispute is a broader standoff between the refinery and the Federal Government. Key issues include crude oil supply arrangements, the proportion sold in naira, and the continued issuance of fuel import licences to other marketers.
Government officials say negotiations are ongoing but stress that no single company will be allowed to dominate the market. Regulators have also reiterated that the naira remains the only legal currency for domestic transactions.
Meanwhile, the uncertainty has raised concerns about potential price increases and market instability. Authorities have urged Nigerians not to panic-buy, noting that there is no immediate fuel scarcity.
