Fuel Marketers Resume Loading Amid Price Adjustments

Fuel marketers in Nigeria have resumed loading petrol and diesel from private depots following an almost one-week disruption caused by recent price adjustments in the downstream petroleum sector. Chinedu Ukadike, the National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria, stated on Tuesday that private depots had restarted selling petroleum products to marketers, alleviating fears of an imminent fuel scarcity.

Some filling stations had temporarily ceased dispensing petrol, but Ukadike explained that marketers were exercising caution due to the volatility in fuel prices, particularly amid the ongoing Middle East crisis. Depot owners had suspended loading operations to adjust prices and request top-up payments from marketers who had previously paid for products before the latest price increase.

Ukadike also commented on the Dangote Petroleum Refinery's dollar-for-fuel policy, stating he could not confirm if marketers had begun paying in dollars for products loaded through the refinery's gantry in Lekki, Lagos.