Petrol prices have inched closer to the ₦1,000 mark across major Nigerian cities as supply tightens and loading disruptions persist, forcing petroleum marketers to consider importing fuel independently.

According to industry operators, production and supply issues at the Dangote Petroleum Refinery have intensified pressure on the downstream oil market, worsening scarcity and driving up pump prices nationwide.

The National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Chinedu Ukadike, confirmed the situation, noting that members of the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) are finalising plans to begin independent petrol importation to stabilise the market.

He expressed optimism that prices would soon drop once competition returns, saying, “Yes, petrol price is still going to come down because I also know that some marketers, especially DAPPMAN members, have applied and they are going to import petrol products… prices will come down once there is a struggle for the market.”

Checks by The PUNCH revealed that petrol prices rose from around ₦865 to between ₦920 and ₦955 per litre, with some stations in Abuja, Lagos and Sokoto selling as high as ₦1,000 depending on brand and location.

This spike comes despite earlier assurances from the Dangote Refinery that prices would drop to around ₦841 per litre under its new logistics-free distribution model announced in mid-September.

However, that promise has yet to materialise. Instead, prices have climbed steadily above ₦900 per litre in Lagos, Ogun, Abuja, and other cities.

In the Federal Capital Territory, NNPC outlets sold petrol for ₦955 per litre in Gwarinpa and Lugbe, while similar stations in Lagos offered it at ₦928. Across Edo, Rivers, Oyo, and Gombe, motorists paid between ₦900 and ₦1,000, with queues stretching across several filling stations.

IPMAN President Abubakar Shettima blamed depot owners for the fresh surge, saying they raised prices after the Dangote Refinery temporarily halted fuel loading. Depot prices reportedly jumped from an average of ₦830 to about ₦890, with some private depots selling above ₦900.

Data from Petroleumprice.com showed that depots such as Matrix, Fynefield, and Liquid Bulk sold petrol at ₦900, while Northwest and Pinnacle offered ₦895 and ₦885 respectively.

Following these adjustments, retail stations raised pump prices accordingly. NNPC outlets in Lagos and Ogun now sell petrol at ₦928 per litre — about ₦50 higher than previous rates.

NNPC spokesperson Andy Odeh explained that the corporation adjusted prices because depot charges had increased, saying, “The ex-depot prices have gone up… when the price goes up ex-depot, there will be an adjustment by the retailers.”

In Ogun and Lagos, Dangote’s distribution partner MRS sold petrol at ₦925 per litre on Tuesday. Meanwhile, industry sources confirmed that the Dangote Refinery recently suspended petrol sales to private marketers, leading to tighter supply.

Although no official explanation has been issued, insiders linked the disruption to internal maintenance and the recent mass layoff of engineers at the refinery.

Shettima maintained that the situation was temporary, saying, “These DAPPMAN people are the only ones selling now… if Dangote starts selling tomorrow, the price will come down.”

IPMAN’s Ukadike also attributed the hike to refinery reorganisation and the earlier NUPENG strike, which affected refining and loading operations. He noted that, “This is a reflective market whereby when suppliers increase prices, retailers have no choice but to increase them.”

He added that depot owners were exploiting the situation by inflating ex-depot prices, worsening the burden on consumers already facing record-high costs of transportation and food.

The Major Energies Marketers Association of Nigeria (MEMAN) also confirmed that the refinery had restricted gantry loading to its own trucks and MRS vehicles since last Thursday, a move that deepened shortages for independent outlets.

Jeremiah Olatide, CEO of PetroleumPrice.ng, said the refinery’s supply disruptions have distorted the downstream market, revealing that crude shortages and the layoff of about 800 staff had further strained operations.

He said, “The refinery is only loading their own trucks… depot marketers were not allowed to load products today. Private depots have stopped sales and want to raise prices again.”

In Sokoto, residents complained that petrol prices had jumped to between ₦960 and ₦1,050 per litre across both independent and major filling stations, with NNPC outlets reportedly shut for over a week.

A motorist in the state lamented, “I learnt a litre is now ₦992 from NNPC in Lagos. Only God knows how much it will sell in Sokoto… I had to borrow money from my wife just to buy fuel.”

With petrol nearing ₦1,000 per litre, economic analysts warn of fresh inflationary shocks that could worsen living costs nationwide, even as hopes for stable supply from the 650,000-barrel-per-day Dangote Refinery remain uncertain.

Efforts to reach the refinery’s spokesperson, Anthony Chiejina, were unsuccessful as calls and messages were not answered.

Credit: The Punch

Despite the commencement of operations at the 650,000-barrel-per-day Dangote Refinery, Nigeria remains heavily dependent on imported petrol, with new data showing that imports accounted for 72.64 per cent of total national consumption in the last nine months.

According to figures released by the Federation Account Allocation Committee (FAAC), the country consumed about 12.5 billion litres of petrol between October 2024 and July 2025. Of this figure, 9.08 billion litres were imported, while 3.5 billion litres came from domestic supply, mainly from the Dangote Refinery.

The report revealed that despite earlier hopes of achieving energy self-sufficiency through local refining, Nigeria continues to rely significantly on foreign supply. In October 2024, for example, the nation imported 40.43 million litres per day, amounting to 1.253 billion litres that month, while the Dangote Refinery supplied only 7.09 million litres daily, representing 14.9 per cent of total consumption.

Although domestic production briefly increased early in 2025, the gains were short-lived as operational disruptions caused local output to decline again. In January 2025, import dependence dropped to 56.3 per cent, with Dangote supplying 592.1 million litres, its best performance so far. February and March recorded similar improvements, with domestic output maintaining an average of 45 per cent of national consumption.

However, production faltered from May 2025, when the Dangote plant’s supply fell to 472 million litres, pushing import reliance back up to nearly 72 per cent. By July, the refinery’s contribution had dropped to 31.5 per cent, following a labour dispute that temporarily halted operations.

The report noted that despite being Africa’s largest oil producer, Nigeria still struggles to provide local refineries with sufficient crude feedstock. The Dangote Refinery, for instance, imported nearly 20 per cent of its crude from the United States in 2024 due to local production constraints.

Energy experts have continued to stress that without adequate crude availability and pipeline security, achieving self-sufficiency in fuel production will remain difficult.

Chairman of the African Energy Chamber (AEC), NJ Ayuk, said the continent faces a $15.7 billion shortfall in energy infrastructure investment. He warned that regulatory hurdles across African countries were worsening the situation. “You can send crude and LPG across borders, but an African holding an African passport can’t move freely,” Ayuk stated.

The Guardian reports that several African nations have intensified efforts to construct or rehabilitate refineries to reduce import dependence — a development that could heighten competition for Nigeria’s refining ambitions.

According to recent announcements, Ethiopia, Senegal, Angola, Mozambique, Djibouti, Cameroon, Ghana, South Africa and Uganda are all advancing refinery projects that could collectively add over one million barrels per day of capacity, potentially rivaling Nigeria’s Dangote and NNPC refineries.

In Ethiopia, work is progressing on the Gode refinery, a 70,000-barrel-per-day facility being developed with China’s Golden Concord Group (GCL). Senegal has also unveiled plans for a second national refinery costing between $2 billion and $5 billion, targeted for completion by 2029.

Angola’s Cabinda refinery is set to begin production in the second half of 2025, starting at 30,000 barrels per day and expanding to 60,000 barrels in subsequent phases. The country’s Sonaref project, with a planned capacity of 425,000 barrels per day by 2027, ranks among Africa’s most ambitious. Similarly, Uganda’s Hoima refinery, which recently secured an implementation agreement, is progressing toward construction, though its first phase may not commence before 2028.

Other ongoing efforts include Ghana’s 45,000 barrels-per-day Tema refinery, which resumed operations in 2024, and Egypt’s Midor expansion, which increased capacity from 100,000 to 160,000 barrels per day.

Meanwhile, several countries are focusing on restoring damaged or dormant plants. In Cameroon, reconstruction work continues on the Limbe refinery, which has been inactive since a 2019 fire. Ghana’s Tema refinery is also undergoing full maintenance for an imminent restart.

In Libya, the Ras Lanuf refinery (220,000 barrels per day) remains pending restart, while in South Africa, the Engen refinery is being converted for new use, and Sapref, the country’s largest plant, remains mothballed. The Ivory Coast is building a new diesel unit to boost both domestic and regional supply.

Experts say these developments represent a turning point in Africa’s refining history — a mix of large-scale new construction and recovery from years of industrial neglect.

The African Refiners and Distributors Association (ARDA) estimates that Africa needs at least six refineries of Dangote’s scale to meet its rising demand and achieve energy independence. ARDA’s Executive Secretary, Anibor Kragha, cautioned that the continent still faces a wide refining deficit, worsened by weak regulation and limited financing. “Africa’s vulnerability to fuel price shocks will persist until refining investment matches consumption growth,” he warned.

Population growth and economic expansion are expected to intensify demand for fuel, deepening the economic and security implications of the refining shortfall.

The Organisation of Petroleum Exporting Countries (OPEC) projects that Africa faces a $100 billion refining investment gap over the next 25 years. Of this, $40 billion will be required by 2030 for new refineries, while $60 billion will be needed for upgrades and expansions thereafter.

OPEC also forecasts that Africa’s domestic oil consumption will rise from 1.8 million barrels per day in 2024 to 4.5 million barrels per day by 2050, a shift that could reduce the continent’s crude exports by over one million barrels daily and alter global trade dynamics, especially for European refiners reliant on African crude.

Wakanow Group, Africa’s leading travel tech company announces that it has acquired NairaBox, a fast-growing lifestyle and entertainment platform in Nigeria. This acquisition represents a deliberate strategic step by Wakanow to broaden its portfolio into entertainment, events, and lifestyle experiences, reinforcing its commitment to innovation, consumer centricity, and diversified growth. Wakanow also names Tobi Andero as Business leader joining from the experiential marketing industry.

NairaBox is known for providing seamless access to event tickets, cinema experiences, lifestyle offerings, and more via its digital platform, combining convenience with engagement. By integrating NairaBox into the Wakanow ecosystem, our customers will enjoy more holistic experiences: travel, entertainment and lifestyle, all under one roof.

Bayo Adedeji, Group CEO of Wakanow, stated that:

“We see tremendous opportunity in the intersection of travel and entertainment. This acquisition allows us to offer deeper, richer experiences to our customers not just where they travel, but how they live, how they enjoy, how they engage with culture. We are excited about what the future holds as we combine Wakanow’s strength and reach with the lifestyle energy of NairaBox.

“As we expand, we are focused not only on geography but on sectoral breadth. Entertainment and lifestyle are natural adjacencies to our business – they enhance the value we deliver and align well with consumer trends. We believe the synergies will unlock new growth, both for our customers and stakeholders”, Adedeji added.

While stating his commitment to a smooth transition of ownership, CEO, Nairabox, Ugochukwu Jay Chikezie affirmed that: “Joining forces with Wakanow marks an exciting new chapter for NairaBox and for entertainment in Nigeria. Over the years, we’ve built a platform that connects people to the experiences they love – concerts, movies, and live events. This acquisition allows us to scale that vision even further by integrating travel and entertainment into one seamless ecosystem. Together with Wakanow, we’re creating a future where access to unforgettable experiences, whether across cities or continents, becomes simpler, smarter, and more connected than ever.”

Wakanow is committed to preserving and enhancing the core strengths of NairaBox – its innovation, its connection with entertainment and lifestyle consumers, and its digital-first approach. Wakanow Group comprises of multiple platforms wakanow.com, Kalabash54.com, roomde.com, onburd.com, pointview travels, Trip Merchant and now Nariabox.com.