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Fuel Shipments Hit Lagos as Prices Climb, Regulator Clarifies Import Puzzle

Published by Samuel Ayomide on March 17th, 2026.

Fresh consignments of petrol and diesel are arriving at Nigerian ports this week, offering some relief on supply concerns even as pump prices continue to rise sharply across the country.

Data from the Nigerian Ports Authority indicates that multiple vessels carrying a combined 129,000 metric tonnes of Premium Motor Spirit (PMS) and Automotive Gas Oil (AGO) are scheduled to berth in Lagos between March 14 and 17, 2026.

According to shipping records cited by The Punch, vessels such as Mosunmola and Kobe have already delivered significant volumes of petrol and diesel at terminals in Apapa and Tin Can Island, while additional shipments are expected to arrive within days. Parallel deliveries have also been recorded at Calabar ports, further boosting product availability nationwide.

The latest inflow of petroleum products comes against the backdrop of escalating fuel prices, with retail rates now exceeding ₦1,200 per litre in several parts of the country. The surge followed a recent price adjustment by the Dangote Petroleum Refinery, which raised its ex-depot price for petrol, triggering a ripple effect across the downstream sector.

Economic observers warn that sustained increases could push prices even higher if global crude oil markets remain volatile, particularly amid tensions involving the United States and Iran. Some projections suggest petrol could climb toward ₦1,500 per litre or beyond if the crisis persists.

Operators under the Independent Petroleum Marketers Association of Nigeria say they are ready to lift any available products, regardless of origin, to ensure steady supply.

IPMAN spokesperson Chinedu Ukadike noted that marketers are primarily concerned with availability, stressing that increased supply could help stabilise the market. However, he acknowledged uncertainty over the source of some imports, given regulatory claims that no new licences have been issued this year.

Industry players believe many of the arriving cargoes may be tied to previously approved import permits, with delays linked to maritime logistics, including congestion along key global routes such as the Strait of Hormuz.

The Nigerian Midstream and Downstream Petroleum Regulatory Authority has maintained that it has not granted fresh import licences for petrol in 2026. Officials insist that current supplies are being supplemented by existing stockpiles and output from local refineries.

According to The Nation, the regulator explained that inventory carried over from late 2025, combined with domestic refining, helped bridge supply gaps earlier in the year.

Figures released by the agency show that local refineries, led by the Dangote facility, are producing over 36 million litres daily, while national demand stands at approximately 56 million litres—leaving a notable shortfall that stakeholders say still justifies limited imports.

The Chief Executive of NMDPRA, Saidu Mohammed, cautioned against a return to heavy dependence on imported fuel, arguing that Nigeria is making gradual progress toward self-sufficiency.

Despite the arrival of new shipments, analysts say the impact on pump prices may be minimal in the short term. The cost of refined products remains closely tied to global crude prices, which are currently trading above $100 per barrel.

As noted by Daily Times, the interplay between local refining, legacy import contracts, and international oil prices continues to shape Nigeria’s fuel market dynamics.

For consumers, the immediate outlook remains challenging, with transport fares and the cost of goods already reflecting the surge in energy prices, while policymakers face increasing pressure to balance market forces with economic relief.