Business
Oil Marketers Raise Alarm As NNPCL Portal Shutdown Halts Petrol Purchase
Published
9 months agoon
By
Editor
Oil marketers have raised alarm that the Nigerian National Petroleum Company Limited, NNPCL, portal used for the purchase petrol has been shut against dealers, making it impossible for them to apply for the commodity.
The spokesperson of the Independent Petroleum Marketers Association of Nigeria, Chinedu Ukadike disclosed this in a statement on Wednesday.
According to him, marketers have more than 2,000 pending tickets for the purchasing of 45,000 liters of petrol, hinting that the situation may lead to another round of fuel scarcity nationwide.
READ ALSO: NNPC Releases Another Estimated Petrol Price Breakdown
“I can’t confirm the price now because the portal is still shut down.
“We have more than 2,000 tickets for 45,000 liters (of petrol). That is 45,000 multiplied by 2,000, you can now know the number of million liters it will be. This is just an estimate, you know I don’t work with NNPCL and I don’t know what is on their system,” Ukadike stated.
He added that a 45,000-litre truckload of PMS is around N39.5 million, making N79 billion when multiplied by 2,000.
Reacting to the development, the spokesperson of NNPCL, Olufemi Soneye admitted that the state-owned firm shut the portal due to significant backlog to address.
Soneye explained that the shutdown became necessary to stop NNPCL from holding marketers’ capital for too long.
READ ALSO:Direct Lifting Of Petrol From Dangote Will Crash Prices, Oil Marketers Assure Nigerians
“We have a significant backlog to address. The closure is intended to prevent us from holding marketers’ funds for an extended period,” Soneye had explained.
He, however, assured marketers that the portal would be reopened after the backlog had been reduced.
“It will be reopened once the backlog has been sufficiently reduced. We are working to address it as soon as possible,” he told our correspondent.
Marketers who spoke with our correspondent confirmed that NNPCL was expediting actions to clear the backlogs as of the weekend.
Though NNPCL did not disclose the value of the ‘huge backlogs’, independent marketers said they have over 2,000 tickets yet to be cleared with NNPCL.
The Petroleum Retail Outlets Owners Association of Nigeria also confirmed that its members could not access the NNPCL purchasing portal.
PETROAN President, Billy Gillis-Harry, confirmed this in a phone conversation with Newsmen.
“The portal shutdown affects us too, we are all buying from NNPCL,” he said briefly.
Meanwhile, the marketers noted that they have since been patronising private depot owners, who sell petrol to them at a premium.
This, they said, informed why the product is more expensive in their filling stations than in outlets owned by the NNPC and the major marketers.
It was gathered that the marketers usually bid for PMS through the NNPCL portal.
According to them, payments will be made through the same channel while the marketer waits for months to get the product.
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Business
JUST IN: Dangote Refinery Hikes Petrol Ex-depot Price
Published
2 weeks agoon
June 20, 2025By
Editor
Nigerians may soon pay more for petrol as the Dangote Petroleum Refinery on Friday increased its ex-depot price for Premium Motor Spirit to N880 per litre, raising fresh concerns over fuel affordability and price volatility in the downstream sector.
Checks on petroleumprice.ng, a platform tracking daily product prices, and a Pro Forma Invoice seen by The PUNCH confirmed the hike, representing a N55 increase from the previous rate of N825 per litre.
The increment would ripple across the entire fuel distribution chain, likely pushing pump prices above N900/litre in some parts of the country, especially in areas far from the distribution hubs.
The hike comes despite global crude prices falling. Brent crude dipped by 3.02% to $76.47, WTI fell to $74.93, and Murban dropped to $76.97 on Friday. The decline in benchmarks offers little relief due to persistent fears of sudden supply disruptions.
READ ALSO: JUST IN: Dangote Refinery Sashes Petrol Gantry Price
The refinery has increased its reliance on imported U.S. crude and operational costs amid exchange rate instability, which adds to its pricing pressure.
On Thursday, the President of the Dangote Group, Aliko Dangote, said his 650,000-barrel capacity refinery is “increasingly” relying on the United States for crude oil.
This came as findings showed that the Dangote Petroleum Refinery is projected to import a total of 17.65 million barrels of crude oil between April and July 2025, beginning with about 3.65 million barrels already delivered in the past two months, amid ongoing allocations under the Federal Government’s naira-for-crude policy.
Dangote informed the Technical Committee of the One-Stop Shop for the sale of crude and refined products in naira initiative that the refinery was still battling crude shortages, which had led it to resort to imports from the United States.
READ ALSO:Dangote Stops Petrol Sale In Naira, Gives Condition For Resumption
On Monday, the president of the Petroleum and Natural Gas Senior Staff Association of Nigeria, Festus Osifo, accused oil marketers of exploiting Nigerians through inflated petrol prices, insisting that the current pump price of PMS should range between N700 and N750 per litre.
He criticised the disparity between falling global crude oil prices and the stagnant retail price of petrol in Nigeria.
“If you go online and check the PLAT cost per cubic metre of PMS, convert that to litres and then to our Naira, you will see that with crude at around $60 per barrel, petrol should be retailing between N700 and N750 per litre.”
He asserted that if Nigerians bear the brunt of higher fuel costs, they should be allowed to enjoy the benefit of low pricing.
His forecast of increased costs now appears spot on, considering the latest developments.
Marketers are already adjusting. Depot owners and fuel distributors in Lagos and other cities anticipate a domino effect, with new price bands expected to follow Dangote’s lead.
Many had held back pricing decisions since Tuesday, when the refinery halted sales and withheld fresh PFIs. The delay fueled speculation, allowing opportunistic price hikes across various depots.

The Naira, which has seen steady appreciation against the Dollar all week, closed stronger on Friday, trading at ₦1,580.44 in the official forex market.
Data from the Central Bank of Nigeria’s website show the Naira gained ₦4.51k against the Dollar on Friday alone.
This marks a 0.28 per cent appreciation from Thursday’s closing rate of ₦1,584.95 in the official foreign exchange window.
The local currency maintained consistent strength throughout the week, recording gains daily.
READ ALSO: Naira Appreciates Against Dollar At Foreign Exchange Market
On Monday, May 19, it traded at ₦1,598.68; on Tuesday, at ₦1,590.45; and on Wednesday, at ₦1,584.49.
These gains suggest increased investor confidence and improved forex supply, contributing to the naira’s performance.
Meanwhile, the CBN, at its 300th Monetary Policy Committee meeting held Monday and Tuesday, retained the Monetary Policy Rate at 27.5 per cent.
Business
BREAKING: Again, Dangote Refinery Cuts Petrol Price
Published
1 month agoon
May 22, 2025By
Editor
The Dangote Petroleum Refinery has announced a nationwide reduction in the pump price of Premium Motor Spirit (PMS), commonly known as petrol, with new prices now ranging between ₦875 and ₦905 per litre, depending on location.
The ₦15 per litre cut applies across all regions and partner fuel stations, and was confirmed via an official announcement posted on Dangote Refinery’s social media channels on Thursday.
Major marketers participating in the new pricing regime include MRS, Ardova, Heyden, Optima Energy, Techno Oil, and Hyde Energy — partners in the distribution of Dangote-refined products.
READ ALSO: JUST IN: Dangote Refinery Sashes Petrol Gantry Price
Under the previous pricing structure, Lagos residents paid ₦890 per litre, while prices reached ₦920 in the North-East and South-South regions. With the latest adjustment, Lagos now pays ₦875 per litre, while the North-East and South-South will see prices drop to ₦905.
A regional breakdown of the revised prices is as follows: Lagos: ₦875, South-West: ₦885, North-West & Central: ₦895, North-East & South-South: ₦905 and South-East: ₦905.
In its announcement, Dangote Refinery encouraged consumers to purchase fuel only from authorised partner stations and urged the public to report any cases of non-compliance via its official hotlines: +234 707 470 2099 and +234 707 470 2100.
“Our quality petrol and diesel are refined for better engine performance and are environmentally friendly,” the company said.
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