Nigeria’s independent petrol marketers urge halt to PMS import licences as pump prices hit N1,350 per litre
AI Market Summary
Nigeria's independent marketers are urging the government to suspend petrol import licences, arguing imports are ~20% costlier than locally refined supply and are amplifying FX demand, naira weakness and retail price volatility. If policy shifts toward import curbs and prioritises domestic refining (e.g., Dangote supply priced in naira), downstream margins and price-setting dynamics could change, with secondary implications for regional product flows and crude/product demand balances.
Impact level
● Medium
Affected assets
NCCO1OILWTI2USD/USDT+4.63%
AI Insight · NCCO1OILWTI2USD/USDTAI Insight
● Neutral
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The Independent Petroleum Marketers Association of Nigeria (IPMAN) has called on the Federal Government to immediately suspend petrol import licences, saying the permits have coincided with higher pump prices of about N1,350 per litre. The group said imported petrol is selling well above supplies from the Dangote Petroleum Refinery and is worsening price volatility. It added that the implied offshore cost of imported products is almost 20 per cent higher than Dangote’s prices, increasing pressure on the dollar and the naira.
