Fuel Price Surge: 129,000MT Petrol, Diesel Vessels Arrive Nigeria Amid Import Controversy

As Nigerians grapple with a sharp petrol price surge, fresh supplies of fuel are arriving the country’s shores. No fewer than 129,000 metric tonnes of Premium Motor Spirit (PMS) and Automotive Gas Oil (diesel) are expected to dock at Lagos ports between March 14 and 17, 2026, offering some relief amid growing concerns over fuel availability and escalating costs.

Shipping data from the Nigerian Ports Authority shows that several vessels have already begun offloading. The vessel Mosunmola delivered 20,000MT of petrol, while Kobe brought in 22,000MT of diesel at Tin Can Island. Additional vessels, including Bora and Ashabi, are scheduled to deliver tens of thousands of tonnes more within days, while other shipments have also reached Calabar ports, further boosting supply across regions.

These arrivals come at a time when fuel prices have surged nationwide, with petrol now selling above ₦1,200 per litre in many areas. The increase followed a price adjustment by the Dangote Petroleum Refinery, which raised its gantry price, triggering a ripple effect on transport fares and the general cost of goods and services. Analysts warn that if global crude prices remain high—especially amid tensions involving the United States and Iran—prices could climb even further.

Amid the confusion over continued fuel imports, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) clarified that no new import licences were issued in 2026. According to the regulator, the vessels currently arriving are operating under licences granted last year, with delays in shipment—particularly around global shipping routes—affecting their arrival timeline. The agency insists that local supply has largely been sustained by domestic refining and existing stock.

Meanwhile, independent marketers say they are ready to purchase and distribute any available fuel to stabilise supply. The Independent Petroleum Marketers Association of Nigeria noted that increased product availability could help improve competition, though it may not immediately reduce prices. With Nigeria still balancing between local refining and imports, stakeholders continue to urge the government to implement measures that will ease the burden on citizens already strained by rising living costs.

source: punch