Dangote Refinery Halts Fuel Loading Amid Price Dispute

Dangote Petroleum Refinery has suspended fuel loading for four days due to a dispute regarding the pricing template for petroleum products, leading to fears of potential fuel shortages across Nigeria. Chinedu Ukadik, from the Independent Petroleum Marketers Association of Nigeria (IPMAN), indicated that the market is adopting a cautious approach due to uncertainties surrounding future petrol prices.

The current ex-depot prices at private depots range from N1,200 to N1,220 per liter, excluding transport costs. Oyewol Akanni, the zonal chairman of IPMAN's western zone, confirmed that the situation has led to the temporary closure of filling stations and a halt in fresh purchases.

The Federal Government is urged to resolve the pricing template issue to prevent further disruptions in the downstream market. The uncertainty has significantly reduced the volume of fuel loaded, with marketers reluctant to purchase products without clarity on future pricing.