As Nigeria faces escalating petrol prices, shipments of 129,000 metric tonnes of Premium Motor Spirit (petrol) and Automotive Gas Oil (diesel) are slated to arrive at Lagos Ports from March 14 to 17, 2026, according to The PUNCH.This development comes as representatives from the Nigerian Midstream and Downstream Petroleum Regulatory Authority clarified the situation regarding petrol imports, emphasizing that no import licenses for petrol have been issued this year despite ongoing imports by some companies.The Nigerian Ports Authority’s Shipping Position Daily, obtained on Monday, reports that the vessel Mosunmola docked at Lagos Ports via the Bulk Oil Plant on Sunday, March 14, 2026, carrying 20,000MT of PMS. On the same day, another vessel, Kobe, with 22,000MT of AGO, arrived at Kirikiri Lighter Terminal Phase 2, Tin Can Island Port.Scheduled for Tuesday, March 17, the vessel Bora is set to arrive at Kirikiri Lighter Terminal 3B with 27,000MT of PMS, while the vessel Ashabi is expected to bring in 30,000MT of AGO to the same terminal.
On March 15, 2026, Oluwajuwonlo successfully discharged 15,000 metric tonnes of Premium Motor Spirit (PMS) at Calabar Ports through Ecomarine Nigeria Limited. Additionally, the vessel Mosunmola is scheduled to deliver another 15,000MT of PMS to Calabar Ports via a North West Petroleum Gas Co Limited terminal on March 17.These vessel arrivals coincide with a period of escalating fuel prices across the nation. Nigerians are currently grappling with increasing petrol prices following Dangote Petroleum Refinery’s adjustment of its PMS gantry price to N1,175 per litre, which has led to retail prices exceeding N1,200 per litre. This surge in petrol costs has consequently affected transportation fares and raised the prices of goods and services throughout the country.
Economic analysts, labour unions, and stakeholders in the private sector have urged the Federal Government to implement relief measures in light of the rising crude oil prices, which are attributed to growing tensions between the United States and Iran. There are calls for the potential subsidization of petrol to lessen the financial burden on citizens and businesses, with warnings that continued price increases could further fuel inflation. Current petrol prices range between N1,200 and N1,300 per litre in various regions, with forecasts suggesting prices may surpass N1,500 or even approach N2,000 per litre if the conflict in the Middle East persists.The Independent Petroleum Marketers Association of Nigeria (IPMAN) has indicated that independent marketers are prepared to source imported products to ensure consistent availability and market competition. IPMAN spokesperson Chinedu Ukadike stated, “As independent marketers, we remain responsive to sourcing fuel wherever it is available, whether from depot owners or the Nigerian National Petroleum Corporation. Our main concern is ensuring product availability. Although the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has declared that no new import licenses were issued, we are ready to receive and distribute the products, which may enhance competition and stabilize prices.
”Ukadike also noted that these vessels may operate under licenses issued previously, and delays related to maritime logistics, particularly in the Strait of Hormuz, could account for their late arrivals. He emphasized, “If the crude oil prices remain high, it will be challenging to see a reduction in local prices, as they will depend on the volumes and costs of supply.
”The NMDPRA has emphasized that no import licenses were granted in the first quarter of 2026, asserting that any shortfalls in supply during February were managed through stocks remaining from January and existing refinery outputs.
Despite IPMAN and other stakeholders expressing support for the halt on new fuel import licenses, major distributors and importers contend that imports remain vital to fulfilling national demand. February statistics indicate that Dangote refinery produced an average of 36 million liters daily, whereas demand reached approximately 56 million liters daily, creating a notable supply gap.A source within the NMDPRA, who requested anonymity due to limitations on discussing the issue, clarified that previous unsold stocks from Dangote refinery had to be utilized following significant delays in European exports caused by adverse weather conditions toward the end of 2025.“The observed shortfalls were addressed using existing stocks. All relevant data is published monthly, confirming that leftover stocks from the previous period were utilized effectively. There has been no actual shortage.
” The source added that the assertion that new import licenses had been issued was unfounded and justified that existing licenses granted prior to this year are still in effect.Nigeria has traditionally depended on imported refined petroleum products due to limited local refining capacity. However, the operational Dangote refinery, which has a production capacity of 650,000 barrels per day, has begun to alter dynamics within the downstream sector.
The NMDPRA reported that domestic refineries provided 36.5 million liters per day in February 2026, with imports contributing merely three million liters, which accounted for approximately 92 percent of the nation’s daily fuel supply.Saidu Mohammed, Chief Executive of NMDPRA, cautioned against reverting to heavy reliance on imports, reiterating, “We have not issued a single import license for petrol this year.
There are ongoing interests advocating for extensive imports despite our progress in enhancing domestic refining capabilities.” The recent arrivals of vessels, while aiding availability, primarily reflect earlier import licenses and logistical delays rather than new authorizations from the NMDPRA.
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