The Independent Petroleum Marketers Association of Nigeria (IPMAN) reports that numerous independent fuel sellers have paused acquisitions and shuttered stations following unpredictable market pricing. Oyewole Akanni, the IPMAN Western Zone Chairman, informed the News Agency of Nigeria on Sunday that the disruption stems from a four-day suspension of petrol loading at the Dangote Refinery.
Marketers are currently forced to source product from private depots where costs have surged between N1,200 and N1,220 per litre, before accounting for shipping expenses. Akanni clarified that the current station closures and supply gaps result from these erratic depot lifting fees. Since the Dangote Refinery halted operations, private depot owners have subsequently raised their rates.
Many retailers with empty reserves are choosing to wait for the Dangote Refinery to restart sales in hopes of a price correction, though a minority continues to purchase despite the risks. Akanni emphasized that the nation is not experiencing a fuel scarcity and urged citizens to avoid panic buying. He did warn, however, that pump prices may climb if these conditions linger. The refinery has provided no explanation for the suspension, leaving four of Akanni’s own truckloads stranded at the facility. He remains optimistic that supply channels will normalize once the refinery resolves its current situation.
