Nigeria pumps close as Dangote refinery halts fuel loading

A significant number of filling stations across Nigeria have temporarily closed their pumps, with industry officials citing market uncertainty following the suspension of fuel loading at the Dangote Refinery. While officials insist there is no nationwide fuel scarcity, the disruption has caused independent marketers to halt purchases, fearing financial losses from unpredictable price swings.

The Independent Petroleum Marketers Association of Nigeria explained that the Dangote Refinery stopped selling Premium Motor Spirit, or petrol, approximately four days ago, which has disrupted the normal supply chain. With the refinery offline, private depot owners have sharply increased their prices. Marketers whose existing stocks have been exhausted are now reluctant to buy fresh supplies, opting to wait and see if prices will fall when the refinery resumes operations or increase further.

According to IPMAN officials, the cheapest ex-depot price at private depots in Lagos currently ranges between 1,200 and 1,220 naira per litre, excluding transportation costs. Some marketers who loaded products on Friday paid between 1,210 and 1,220 naira per litre, while a number of private depots have...