The ongoing fuel shortage in Nigeria has led to increased calls for Dangote Refinery to start producing petrol, as prices have skyrocketed to N1,000 per litre in some areas.
Dangote Refinery is the largest single-train refinery in the world, and both industry leaders and consumers are closely watching its next moves.
Despite the Nigerian National Petroleum Corporation (NNPC) Limited’s promises that fuel distribution issues have been fixed, many parts of Lagos, Ogun, and Abuja still face long queues and fuel shortages.
Many filling stations remain closed, forcing drivers to line up at the few stations that are still selling fuel.
In places like Ikeja, Maryland, and Ikorodu in Lagos, the price of petrol has reached as high as N1,000 per litre, making it hard for people to buy fuel. The same problem is happening in Ogun State and Abuja.
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A frustrated driver shared, “Paying N1,000 per liter now feels like the new normal amid this scarcity—if you’re lucky enough to find any.”
The ongoing crisis has highlighted the urgent need for Dangote Refinery to begin fuel production. Industry expert and former NERC Chairman, Sam Amadi, said, “The core issue is supply. The hope is that once Dangote Refinery is operational, it will finally address these supply shortages.”
Currently, NNPC is the only company importing fuel into Nigeria, and they continue to blame the fuel scarcity on distribution problems.
However, many people believe that NNPC’s explanations do not fully address the issue. Marketers and petrol station operators say the real problem is a lack of supply, and they are not sure why this is happening.
Sam Amadi, an energy expert who spoke newsmen, stated that NNPC’s responses seem more political than technical, adding that “NNPC’s claims are not usually reliable. They will always focus on political communication and less on technical solutions. It is obvious that the cause of the scarcity is not resolved.
“It may have to do with logistics of procuring and distributing the product or some artificial hoarding. NNPC is not really trustworthy.”
Meanwhile, Dangote Refinery has clarified that recent price predictions made by marketers do not represent their position.
In a publication by the PUNCH on Tuesday, August 13, 2024, Anthony Chiejina, a spokesperson for Dangote, said, “Our attention has been drawn to headlines announcing ‘Marketers Project N600/litre for Dangote Petrol.’
“We would like to clarify that the Independent Petroleum Marketers Association of Nigeria (IPMAN) is not our business partner yet.
“We have never discussed the price of Premium Motor Spirit (PMS) with them, and they have no mandate or authority to speak for us, either for good or with hidden transcript.”
He urged the public to ignore such speculative news and stated that Dangote Refinery has official channels for sharing information with its stakeholders.
Industry experts expect that Dangote will likely set its petrol price when it begins distribution this month, similar to how it announced the price for diesel.
