The supply glitch faced by Dangote Refinery has propelled
fresh prices of the premium motor spirit, known as petrol, across Nigerian
filling stations.
NNPCL fuel hike
The Nigerian National Petroleum Company Limited retail
outlets Ranoil, AA Rano, Mobil, Sharon and other filling stations implemented a
fresh petrol price increase on Monday.
NNPCL retail outlets in Kubwa Expressway, Gwarimpa, Wuse
Zones 4 and 6 (Berger) in Abuja increased fuel by 50 or 5.5 per cent to N955,
up from N905 per litre.
Similarly, Lagos NNPCL retail outlets also adjusted their
fuel pump price upward on Monday.
NNPCL fuel hike triggers pump price adjustment across
filling stations
The NNPCL hike has triggered increments across other filling
stations such as Ranoil (N930 up from N910 per litre), Mobil (N920), Sharon
(N920), and AA Rano (N920) within Abuja and environs.
The latest fuel hike is in addition to the recent Liquefied
Petroleum Gas, popularly referred to as cooking gas, price hike to N1,500 and
N3,000 per kilogramme in Abuja and Lagos, up from N1,200 and N1,300.
Fuel and cooking gas hikes worsen hardship for Nigerians
The development paints a gloomy reality for Nigerians with
the possibility of a worsening cost of living, headline inflation and food
inflation at 20.1 per cent and 21.87 per cent in August 2025.
Reason for fuel hike – IPMAN, PETROAN
Reacting to the latest petrol price hike, the President of
the Independent Petroleum Marketers Association of Nigeria, Abubakar Maigandi,
said the reason may not be unconnected to the unavailability of Dangote
Refinery fuel in the last two days.
According to him, members of the association have not been
able to get a supply of fuel from Dangote Refinery since Saturday.
The development, he said, may have resulted in the recent
petrol hike among Major Energies Marketers Association of Nigeria.
“For the past two days, our members have been unable to get
Dangote Refinery petrol. It might be the reason for the hike.
“Currently most of our members don’t have fuel because we
are waiting for Dangote supply,” he said.
MRS filling stations owned by Aliko Dangote, president of
Dangote Refinery, and Sayyu Dantata have been shut down since Saturday when it
dispensed at N851 per litre.
Also speaking on the situation, the national president of
the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN),
Billy Gillis-Harry, said the latest fuel and gas price hike is artificial.
He said the entrance of Dangote Refinery into the downstream
sector has birthed a fresh challenge which has a ripple effect across the
country’s oil sector value chain.
Gillis-Harry urged that all players, including the
650,000-barrel-per-day refinery, must agree to work out a seamless process with
all stakeholders involved.
“Right now, this price hike is artificial, waiting for all
the indexes to play out rightly in the industry.
“Dangote Refinery’s arrival is a positive game changer;
however, as you can see, everybody is grappling with the reality that comes
with it, like every new thing.
“All these will have a ripple effect. We have not had it
like this before. They are all flukes of the moment; reality will set in over
the course of the week.
“Everything happening in the industry is new; it will take a
while for things to stabilise.
“Also, the sector is just coming back from myriad
challenges. Industrial players, including Dangote, are considering the move to
serve Nigerians better. We all need to work out a process that will give every
player a sense of belonging to serve Nigerians better,” he said.
This comes weeks after the Petroleum and Natural Gas Senior
Staff Association of Nigeria suspended its strike against Dangote Refinery due
to the mass sacking of workers.
The recent fuel hike is the second hike in less than eight
days.
Key stakeholders had blamed the earlier fuel and cooking gas
price hikes on the PENGASSAN and Dangote Refinery feud, but this is not the
case in the latest hike.
Earlier, fuel prices skyrocketed across major cities,
including Abuja and Lagos State.
Dangote Refinery fuel distribution scheme
Recall that Dangote Refinery in September began a fuel
supply scheme nationwide to willing buyers, which caused a major disruption.
The Nigerian Midstream and Downstream Petroleum Regulatory
Authority, NMDPRA, recently said Dangote Refinery supplies an average of 20
million litres of petrol daily across Nigeria, out of 48 million litres of
daily fuel consumption in the country.
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