Nigeria to Receive 154 Million Litres of Imported Petrol as Seven Vessels Arrive Amid Rising Depot Prices and Dangote Refinery Supply Disruptions
LAGOS – In a bid to boost fuel supply across the country, seven vessels carrying a total of 115,000 metric tonnes of imported Premium Motor Spirit (PMS), equivalent to 154.22 million litres, are scheduled to berth at Nigerian seaports between Monday, March 17, and Sunday, March 23, 2025.
According to a document obtained from the Nigerian Ports Authority (NPA), the imported petrol will be received at three key ports: Tincan Port in Lagos, Lekki Deep Seaport in Lagos, and Calabar Port in Cross River State. The move comes amid persistent concerns over fuel availability and price volatility in the country.
Details of the Shipments
The first vessel, carrying 20,000 metric tonnes of petrol, arrived at the Dangote terminal on Monday, March 17, at 4:03 PM. Two additional vessels, each carrying 20,000 metric tonnes, berthed the same day at Tincan and Calabar seaports.
A fourth shipment, carrying 20,000 metric tonnes, arrived at the Ecomarine terminal on Thursday, March 20, at 3:18 PM, handled by Kach Maritime Agency.
Subsequent arrivals include:
- Friday, March 21 (Midnight) – A vessel, Binta Saleh, carrying 5,000 metric tonnes, berthing at Tincan Port, Lagos.
- Saturday, March 22 (11:06 AM) – A vessel carrying 15,000 metric tonnes, docking at Calabar Port, assigned to Peak Shipping.
- Sunday, March 23 (5:10 PM) – A vessel with 15,000 metric tonnes, berthing at Ecomarine terminal, Calabar Port.
Fuel Importation vs. Local Refining
The increased fuel imports come amid a halt in the naira-for-crude supply arrangement between Dangote Petroleum Refinery and the Nigerian National Petroleum Company Limited (NNPCL). Stakeholders argue that the suspension could undermine domestic refining efforts, forcing the country to remain reliant on imported fuel.
The Crude Oil Refinery-owners Association of Nigeria has raised concerns over the issue, stating that some market forces are deliberately frustrating Dangote Refinery’s operations to sustain fuel importation. The National Publicity Secretary of the association, Eche Idoko, noted that Dangote’s continued reduction in petrol prices may have led to monopolistic maneuvers aimed at reversing the refinery’s market influence.
Depot Price Hikes Despite Imports
Despite the incoming fuel shipments, depot operators have increased loading prices. On Thursday, key fuel depots raised their prices as follows:
- Rainoil Depot: N835 → N860 per litre
- Pinnacle Depot: N835 → N860 per litre
- Aiteo Depot: N835 → N856 per litre
- Nipco Depot: N835 → N860 per litre
- MEN Depot: Increased to N860 per litre despite no sales the previous day
Conclusion
While the arrival of these vessels is expected to ease fuel supply concerns, rising depot prices indicate that consumers may continue facing high fuel costs. The fuel importation trend persists despite the government’s push for increased domestic refining capacity.
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