As of October 2024, fuel prices in Nigeria have surged, exacerbating an ongoing scarcity of petrol in various regions. The shortage has led to long queues at petrol stations, particularly in major cities like Lagos, where the few operational stations struggle to meet the high demand.
This crisis stems from supply issues, as the Dangote refinery has been unable to meet the projected daily output of 25 million litres, producing under 15 million litres instead. The Nigerian National Petroleum Company (NNPC) remains the sole buyer of petrol from Dangote’s refinery, despite government efforts to allow other marketers to source fuel directly.
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has reassured the public that negotiations with Dangote are progressing, hoping to ease the shortages soon.
