Petrol Price War Looms as Marketers Import Fuel Amid Dangote Refinery’s N1,200/Litre Pump Price
- Nigerian marketers import petrol and diesel to stabilise supply amid rising prices over N1,200 per litre
- Global crude oil tension escalates fuel price surge, prompting calls for government intervention on inflation
- Dangote refinery reshapes Nigeria's fuel market as domestic supply rises, intensifying competition between local and imported products
Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.
As Nigerians struggle with rising fuel costs, petroleum marketers have begun importing petrol and diesel in what appears to be an attempt to stabilise supply and challenge the growing dominance of the Dangote Petroleum Refinery in the downstream market.
Shipping data shows that vessels carrying about 129,000 metric tonnes of Premium Motor Spirit (PMS) and Automotive Gas Oil (AGO) are scheduled to arrive at Lagos ports between March 14 and March 17, 2026.
Source: Getty Images
The development comes at a time when petrol prices have surged nationwide after the Dangote refinery raised its gantry price to N1,175 per litre, pushing retail pump prices in many locations above N1,200 per litre.
The price increase has triggered a ripple effect across the economy, raising transport fares and pushing up the cost of food, goods and services.
Tankers deliver thousands of tonnes of fuel
According to the Nigerian Ports Authority’s Shipping Position Daily, several fuel-laden vessels have already arrived or are scheduled to dock at major terminals.
A vessel named Mosunmola carrying 20,000 metric tonnes of PMS arrived at the Lagos Bulk Oil Plant on March 14, 2026.
On the same day, another tanker, Kobe, delivered 22,000 metric tonnes of diesel at the Kirikiri Lighter Terminal Phase 2 in Tin Can Island Port.
Additional deliveries are expected in the coming days. The vessel Bora is scheduled to arrive at Kirikiri Lighter Terminal 3B with 27,000 metric tonnes of petrol, while Ashabi will deliver 30,000 metric tonnes of diesel at the same terminal.
Outside Lagos, the vessel Oluwajuwonlo has already discharged 15,000 metric tonnes of petrol at Calabar Port through Ecomarine Nigeria Limited.
Another delivery of 15,000 metric tonnes of PMS from Mosunmola is also expected at Calabar through a terminal operated by North West Petroleum Gas Company Limited, according to a report by Punch.
These arrivals are expected to boost supply in the domestic market at a time when fuel prices remain volatile.
Rising global tensions push prices higher
The surge in local fuel prices has coincided with rising crude oil costs globally.
Analysts attribute the increase largely to geopolitical tensions, particularly between the United States and Iran, which have heightened fears of supply disruptions.
Economic experts, labour unions and business groups have urged the Federal Government to consider measures that could ease the burden on citizens.
Some stakeholders have called for temporary interventions or targeted subsidies to cushion the impact on households and businesses, warning that sustained fuel price increases could further worsen Nigeria’s inflation crisis.
In several cities, petrol now sells between N1,200 and N1,300 per litre, with projections suggesting prices could climb even higher if global crude oil prices continue to rise.
Marketers welcome competition
The Independent Petroleum Marketers Association of Nigeria (IPMAN) says its members are ready to distribute any imported fuel products available in depots across the country.
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IPMAN spokesperson Chinedu Ukadike explained that independent marketers prioritise product availability and are willing to source fuel from any supplier.
“We, the independent marketers, are always on the receiving side. Wherever the product is coming from, once it is in the tanks of depot owners or NNPC, we will buy it. The most important thing is availability,” he said.
Ukadike added that the arrival of imported products could introduce competition into the market, although prices would still largely depend on global crude oil costs.
According to him, many of the vessels currently arriving may have been operating under licences issued last year, with delays caused by shipping bottlenecks around key international routes such as the Strait of Hormuz.
NMDPRA explains why imports continue
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has insisted that it has not issued any new petrol import licences in 2026.
Officials say the products now arriving in Nigeria likely stem from licences granted late in 2025, noting that fuel import logistics typically take several weeks or months.
The regulator also maintained that domestic supply has improved significantly due to the operation of local refineries.
According to NMDPRA data, Nigeria consumed roughly 56 million litres of petrol daily in February, 2026, while domestic refineries, led by the Dangote refinery, produced about 36 million litres per day.
Officials explained that additional supply came from previously unsold stocks that were rolled over after export delays in Europe late last year.
Shift in Nigeria’s fuel market
Nigeria has long depended heavily on imported petroleum products due to limited local refining capacity.
However, the commissioning of the 650,000-barrels-per-day Dangote refinery has begun reshaping the country’s downstream petroleum sector.
Source: Getty Images
The NMDPRA reported that domestic refineries supplied about 92 per cent of the country’s fuel needs in February, with imports contributing only a small portion.
Despite this progress, competition between local refiners and importers appears to be intensifying as both sides battle for market share in Nigeria’s rapidly evolving fuel market.
Marketers release new petrol prices
Legit.ng earlier reported that Petroleum marketers have released a new template showing depot prices for Premium Motor Spirit (PMS), also known as petrol, across several distribution hubs in Nigeria.
The data shared by the Major Energies Marketers Association of Nigeria showed that depot prices vary across key locations, including Lagos, Warri, Calabar, and Port Harcourt.
The pricing adjustments followed a revision by the Dangote Petroleum Refinery, which restored its petrol ex-depot price to N1,175 per litre.
Source: Legit.ng
