FG moves to avert fuel crisis as Dangote dollar sales slows loading

Petroleum marketers in Nigeria has suspended large-scale fuel loading from the Dangote Petroleum Refinery over its new dollar-based pricing template, prompting the Federal Government to intensify talks aimed at preventing fuel supply disruptions and another increase in petrol prices.

Although the Dangote refinery denied claims that it had halted fuel loading, marketers said many operators had stopped fresh purchases while awaiting clarity on the refinery’s new pricing regime and the expected prices of imported petroleum products.

The National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Chinedu Ukadike, said marketers were adopting a cautious approach because they could not predict whether petrol prices would rise or fall after taking delivery of products.

According to him, marketers are currently selling products purchased at between ₦1,250 and ₦1,300 per litre, while uncertainty over the pricing of new crude supplies and imported fuel has made many operators reluctant to load fresh volumes.
Ukadike urged the Federal Government to urgently resolve the pricing dispute, warning that prolonged uncertainty could further destabilise the downstream market.

Similarly, the IPMAN Western Zone Chairman, Oyewole Akanni, said the suspension of Premium Motor Spirit (PMS) loading at the Dangote refinery had forced many marketers to source products from private depots at higher prices.

He disclosed that ex-depot prices at private facilities currently range between ₦1,200 and ₦1,220 per litre, excluding transportation costs, while some filling stations have temporarily shut after exhausting their stock.
Despite the situation, Akanni maintained that Nigeria was not experiencing fuel scarcity and advised motorists against panic buying.

However, a Dangote Group spokesman dismissed reports of a loading suspension, insisting that petroleum products were still being loaded at the Lekki refinery and describing contrary claims as false.

Meanwhile, senior government officials disclosed that negotiations between the Federal Government and the refinery remain deadlocked over crude oil supply, the naira-for-crude arrangement and the continued issuance of petrol import licences to marketers.

According to the officials, the refinery is seeking increased crude supply in naira while expressing dissatisfaction over import permits granted to competing marketers despite its domestic refining capacity.
The Federal Government, however, insisted it would continue engaging the refinery but would not allow any single operator to dominate the nation’s fuel market or dictate import policy.

The Federal Competition and Consumer Protection Commission (FCCPC) also reaffirmed that the naira remains Nigeria’s only legal tender for domestic commercial transactions, warning that it would closely monitor the market and take enforcement action against any anti-competitive practices or consumer exploitation.

The development comes amid growing concerns that continued uncertainty over petrol pricing could push pump prices higher and place additional pressure on consumers and businesses nationwide if the impasse is not resolved quickly.