Marketers halt petrol loading at Dangote Refinery amid price uncertainty

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has temporarily halted loading petrol from the Dangote Refinery, citing uncertainty over pricing and the refinery's unexplained suspension of loading operations. Oyewole Akanni, IPMAN's Western Zone Chairman, disclosed that the refinery stopped loading Premium Motor Spirit (PMS) about four days prior without notice.

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The suspension has forced marketers to source petrol from private depots, where prices have risen significantly, creating uncertainty across the downstream sector.

This stoppage has compelled IPMAN members to seek fuel from private depots, where prices have significantly increased. Akanni explained that the price fluctuations have caused many marketers to postpone new purchases. Some filling stations have already closed temporarily after depleting their existing stock. Akanni's own trucks, including four destined for his stations, remain idle at the refinery awaiting product.

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Trucks belonging to marketers, including four scheduled for his stations, have remained at the refinery awaiting loading.

Despite the disruptions, Akanni assured the public that there is no nationwide fuel shortage and advised against panic buying. However, he warned that pump prices could rise if the current situation continues. The Nigerian National Petroleum Company (NNPC) Limited may also be impacted, as it sources petroleum products from the Dangote Refinery. Reports suggest some fuel importers are considering raising depot prices, which could further influence retail costs.

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Despite the situation, Akanni maintained that there is no fuel shortage in the country and advised motorists against panic buying.