Naira-for-crude: Fuel prices set to rise as negotiations stall, imports surge.

The delay in resolving the naira-for-crude issue is adding more pressure to fuel prices in Nigeria. With Dangote Refinery halting sales in naira and increased reliance on imports, the landing cost of petrol is rising, which could lead to another pump price hike.

If the government and Dangote don’t reach an agreement soon, Nigerians may face higher fuel costs, affecting transportation and general living expenses. Given that the meeting has been postponed, the uncertainty is likely to persist at least until after the Sallah break.

Do you think the government should intervene more aggressively to stabilize fuel prices, or should market forces determine the outcome?

The delay in finalizing the naira-for-crude deal is adding to the uncertainty in Nigeria’s fuel market. With the landing cost of petrol jumping by ₦88 per litre in just a week, consumers could soon see a price increase at the pump.

MEMAN’s stance suggests that price hikes are an unavoidable consequence of deregulation. However, many Nigerians, used to past price controls and subsidies, are struggling with the rapid changes.

Do you think full deregulation will ultimately benefit the economy, or should the government step in to cushion the impact on citizens?

With the landing cost of imported petrol now at ₦885 per litre—higher than Dangote’s ₦815 ex-depot price—the market is facing fresh uncertainty. If additional charges and margins are factored in, retail prices could climb back toward ₦1,000 per litre, reversing recent price drops.

Dangote Refinery had previously helped drive prices down, but with its naira-for-crude standoff with the government and the continued reliance on imports, Nigerians may soon feel the impact at the pump.

If this trend continues, do you think the government should step in with policy adjustments, or should the market be left to stabilize itself?

Fuel importers have been taking heavy losses by selling petrol below cost, and with the naira-for-crude standoff unresolved, the market is bracing for another price hike. The initial price cuts by Dangote Refinery pressured importers, but now the rising landing cost is shifting the balance again.

If the government doesn’t reach a deal with Dangote soon, Nigerians could see pump prices climb back toward ₦1,000 per litre or even higher. Given these fluctuations, do you think price stabilization policies should be reintroduced, or is a fully deregulated market the best long-term solution?