Oil marketers and the Dangote Petroleum Refinery disagree over a new influx of petrol imports into the nation amid signs of deepening tensions in Nigeria’s downstream oil sector.
This row deepened after independent oil marketers resumed large-scale importation of petrol, as fresh data shows that over 496.17 million litres of petrol were brought into the country within nine days.
Two weeks ago, the President of Dangote Group, Alhaji Aliko Dangote, declared that his $20bn refinery was still “fighting for survival”. The business mogul’s remarks were triggered by the continued importation of petrol and the reluctance of major marketers to buy in bulk from the refinery, despite its increased production capacity and improved output of petroleum products.
He stated at an event that the battle with entrenched oil cabals, one that began even before the refinery commenced full operations, was still ongoing.
The business mogul’s fears now appear to be confirmed, as fuel imports have surged significantly in recent weeks. The PUNCH findings using the Tanker Position Report, a document that tracks oil tankers’ movement and was obtained from Blue Sea Maritime by our correspondent on Monday, revealed that a total of 370,000 metric tonnes of petrol were discharged at various depots. These products berthed at sea ports between May 11 and 20, 2025.
Going by the conversion rate of 1,341 litres to one metric tonne, it, therefore, implies that the marketers utilising scarce foreign exchange brought in about 496.17 million litres of petrol within the period.
With an average landing cost of N879.48 per litre, importers may have spent a total sum of N436.37bn on PMS imports. This is in addition to N2.42tn spent in 70 days between March 1 and May 9, 2025, and N4.51tn spent on the same purpose between October 2024 and February 2025.
Industry sources say the development is a result of a growing friction between private fuel importers, depot owners, and the Dangote Petroleum Refinery, rooted in what stakeholders describe as unfavourable business conditions.
Industry sources revealed that many marketers are deliberately opting to import Premium Motor Spirit rather than purchase from the refinery, citing a combination of economic and operational challenges.
Key among the grievances is the pricing model adopted by the refinery, which marketers say is not competitive when compared to international import options. In addition, sources said unfavourable business terms and gantry loading, among others, have pushed importers into importation.
This coincided with a PUNCH report that reduced output from the Dangote Petroleum Refinery due to an unscheduled maintenance, supported a bounce in West African import demand, as the market reverted to European supplies to serve regional demand.
According to S&P Global Commodities at Sea data, gasoline imports to Nigeria and Togo surged from around 200,000 barrels per day in January to over 300,000 barrels per day in March, and roughly 250,000 b/d in April, close to Nigeria’s total of around 300,000 b/d of national demand.
