Fuel Vessels Arrive in Nigeria Amid Price Surge

Vessels carrying a total of 129,000 metric tons of petrol and diesel have arrived in Nigeria as fuel prices surge nationwide. The Nigerian Midstream Downstream Petroleum Regulatory Authority (NMDPRA) explained that despite the ongoing price hike, no petrol import licenses have been issued for 2026.

The vessels include the Mosunmola, which delivered 20,000 metric tons of petrol to Lagos on March 14, 2026, and the Kobe, which docked at Kirikiri with 22,000 metric tons. The price of petrol has risen to N1,200 per liter, driven by increased crude oil prices and the operations of Dangote Petroleum Refinery, which raised its price to N1,175 per liter.

Analysts and labor unions are urging the federal government to provide relief measures to mitigate the impact of these price increases. The Independent Petroleum Marketers Association of Nigeria (IPMAN) confirmed that the independent market is preparing to lift imported products to ensure availability and competitiveness, despite the NMDPRA's statement regarding the lack of new import licenses.