Petroleumprice.ng Launches Nigeria’s First Verified Digital Marketplace for Downstream Oil Trading

A Nigerian oil and gas tech firm, Petroleumprice.ng, has officially launched a first-of-its-kind digital marketplace tailored to streamline downstream petroleum product trading, infrastructure, and logistics. According to the company’s CEO, Olatide Jeremiah, the platform addresses key industry inefficiencies by offering a central hub for verified transactions across the value chain. This development comes amid regional calls for greater pricing transparency in West Africa’s energy markets.

The newly unveiled Petroleumprice.ng Marketplace allows stakeholders such as filling station owners, fleet operators, marketers, and equipment vendors to buy and sell petroleum-related assets. These include fuel, trucks, retail outlets, storage tanks, and licenses—all from one secure and verified platform. The goal is to remove traditional barriers like lack of trust, market access limitations, and logistical bottlenecks that have long plagued the sector.

With features like real-time inventory visibility, intelligent search tools, and verified listings, the platform promises enhanced transaction security and operational efficiency. The company emphasized that only licensed and credible vendors are permitted, ensuring both buyer confidence and seller credibility. This digital shift introduces modern e-commerce principles into a traditionally opaque market.

In addition to asset trading, the marketplace offers services under four main categories: Equipment Listings, Marketer Listings, Supplier Services, and Truck Hire. These segments cover everything from displaying fuel availability by depot to offering tankers for lease—helping reduce idle fleet time and easing logistics constraints. A tiered subscription model tailors features to different users, from small operators to corporate suppliers.

Describing the platform as a “game-changer,” Jeremiah stated that the focus is now on access, transparency, and efficiency rather than industry gatekeeping. With this launch, Petroleumprice.ng expands beyond its initial role as a pricing data provider, taking a major step toward digitizing and democratizing the downstream oil and gas sector in Nigeria.

Source: Punch