By Staff Reporter
The temporary suspension of Premium Motor Spirit (PMS), popularly known as petrol, loading operations at the Dangote Petroleum Refinery has unsettled Nigeria's downstream petroleum sector, forcing independent marketers to source products from private depots at significantly higher prices and raising concerns over a possible increase in pump prices.
The Independent Petroleum Marketers Association of Nigeria (IPMAN) disclosed that its members have temporarily halted petrol loading from the refinery following the suspension of loading activities at the facility's gantry.
Speaking in an interview with the News Agency of Nigeria (NAN), the Western Zone Chairman of IPMAN, Mr. Oyewole Akanni, said the unexpected development has disrupted supply plans for many marketers and created uncertainty across the retail fuel market.
According to him, marketers who urgently require products have been compelled to buy from private depot owners, who have already adjusted their depot prices upward in response to the situation.
Akanni explained that the uncertainty surrounding petrol pricing has also caused many marketers to suspend fresh purchases, with several filling stations temporarily closing after exhausting their existing stock.
"The non-availability of fuel at some filling stations and the closure of others are due to fluctuations in the price of lifting fuel from depots," he said.
He noted that since the Dangote Refinery stopped selling PMS about four days ago, private depot operators have increased their prices, leaving marketers uncertain about the direction of the market.
"Many filling stations that have exhausted their stock are waiting to see whether prices will come down when Dangote Refinery resumes sales or increase further," he added.
Despite the disruption, the IPMAN official maintained that Nigeria is not experiencing fuel scarcity and urged motorists against panic buying.
"There is no fuel scarcity; members of the public should not panic," Akanni assured.
He, however, cautioned that if the suspension persists, consumers may eventually face higher pump prices as marketers struggle with increased acquisition costs.
"Although there is a possibility of an increase in pump price if the current situation persists," he said.
Akanni disclosed that the refinery neither issued prior notice to marketers nor provided any explanation for the suspension of petrol loading operations.
He revealed that four truckloads of petrol meant for his filling stations have remained stranded at the refinery since the halt in loading activities.
"I was supposed to have received four truckloads of PMS since four days ago, but that has not happened because the trucks are at the Dangote Refinery, which has not been selling," he explained.
"The company is not even loading its own trucks. They are all parked there."
The development, he noted, has affected not only independent marketers but also the Nigerian National Petroleum Company (NNPC) Limited, which also sources petroleum products from the Dangote Refinery.
Industry stakeholders fear that a prolonged suspension could further tighten supply within the downstream sector and sustain the upward pressure on depot prices.
The latest development comes amid growing concerns over rising petroleum costs. On July 16, reports indicated that fuel importers were preparing to increase the depot price of petrol from ₦1,230 per litre to ₦1,350 per litre, a move that could further impact retail pump prices if sustained.
Market analysts say the refinery's return to full loading operations will be crucial in stabilising supply, calming market uncertainty, and preventing further increases in fuel prices across the country.
For now, marketers and consumers alike are closely watching developments at the Dangote Refinery, hoping for a swift resolution that will restore normal product distribution and ease pressure on Nigeria's fuel market.
