IPMAN halts petrol loading from Dangote Refinery amid pricing uncertainty

Members of the Independent Petroleum Marketers Association of Nigeria (IPMAN) have temporarily suspended the lifting of Premium Motor Spirit (PMS), popularly known as petrol, from the Dangote Refinery following the refinery’s suspension of petrol loading operations.

The development was disclosed by the Western Zone Chairman of IPMAN, Oyewole Akanni, who said the unexpected halt in loading has disrupted supply arrangements for independent marketers and heightened uncertainty in the downstream petroleum sector.

According to Akanni, marketers have been compelled to source products from private depots, where depot prices have climbed sharply in recent days.

He noted that the price volatility has made many marketers reluctant to make fresh purchases, while some filling stations have temporarily suspended sales after exhausting their existing fuel stock.

Akanni explained that petrol loading at the Dangote Refinery was reportedly halted about four days ago without prior notice or any official explanation to marketers.

He revealed that several trucks, including four belonging to his filling stations, have remained at the refinery waiting to load products.

The IPMAN official added that only a few marketers are currently buying fuel from private depots because of uncertainty surrounding future pricing.

Despite the disruption, he assured Nigerians that there is no shortage of petrol across the country and urged motorists to avoid panic buying.

However, he cautioned that prolonged disruption at the refinery could trigger an increase in pump prices if marketers continue to rely on more expensive supplies from private depots.

Akanni also observed that the Nigerian National Petroleum Company (NNPC) Limited may not be insulated from the situation since it also sources petroleum products from the Dangote Refinery.

The development comes amid reports that some fuel importers are reviewing depot prices upward, a trend analysts say could translate into higher retail petrol prices if sustained.