The pump price of Premium Motor Spirit (PMS), popularly known as petrol, has reached N1,000 or more per litre in parts of the country. Daily Trust reports that the last time PMS was sold at over N1, 000 was in April and since then, it had sold at below N900.
However, reports from major cities such as Jos, Gombe, Makurdi, and Maiduguri indicated that long queues have resurfaced at filling stations, with many outlets either shut or selling at what some of the motorists described as inflated prices.
In Jos, Plateau State, most filling stations were not dispensing fuel on Wednesday. The few that opened sold at N950 per litre amidst fears of the price hitting N1,000.
Some of the motorists who spoke with Daily Trust lamented the rising cost, calling on the government to come to the aid of the masses.
“I queued at the station, and the fuel was still above N900 per litre. Before May 2023, I filled my tank with N7,000 or N8,000, but now the price has more than tripled. I can’t afford to travel more than 100 kilometres anymore,” said Ibrahim Suleiman, a motorist.
The situation is not different in Gombe State where residents expressed frustration that the price has jumped from N920 to nearly N1,000 per litre, forcing transport operators to reduce trips or increase fares.
“There has been an increase of about N30 per litre recently — from N910 to N970 within just a few days,” said Anas Lawan, another motorist.
Elsewhere, some motorists accused fuel dealers of hoarding products to create artificial scarcity while some continue to link the development to recent disruption caused by the industrial action against Dangote Refinery.
“This is sabotage. Some people just want the poor to suffer. Stations are closed, not because there is no fuel, but because they want to increase prices at all costs,” said Abdullahi Adamu, a commercial driver.
In Makurdi, Benue State, dealers blamed the hike on supply disruptions caused by the misunderstanding between the Dangote Refinery and Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN). They said the crisis had affected product availability, leaving independent marketers stranded.
A station manager, Mustapha Mohammed, confirmed that supplies had slowed in recent days, describing the situation as “beyond the control of most marketers.”
The situation in Maiduguri, Borno State, appeared even worse with motorists buying the product between N1,000 and N1,100 per litre. There were long queues at some filling stations while many commercial tricycle and bus operators either reduced their operations or parked their vehicles entirely.
In Ilorin, many filling stations have adjusted their pump prices to reflect the latest increase in petrol costs.
Although the product remained available, several motorists expressed frustration over the new rates.
A motorist, Alhaji Abdul Hanafi, told Daily Trust that he bought fuel for about N830 per litre on Tuesday, only to be informed that the price had risen to over N900 the following day.
A dealer at an AP filling station in Ilorin, Alhaji Ishola Amao, attributed the situation to the ongoing disagreement between Dangote and other players in the market.
According to him, there are hardly any filling stations in Ilorin where petrol is sold below N900 per litre. “It now sells between N920 and N930, and it is heading towards N1,000 per litre, up from around N865 to N870. That is an increase of about N65,” he said.
He explained that the development has slightly affected sales, as many customers have reduced their purchases.
Similarly, a manager at a Bovas station in Ilorin, who identified himself simply as Ola, said they had adjusted their price to N918 per litre while others sold for between N920 and N930. “The product is available, but the price went up because of the dispute between Dangote and other marketers,” he added.
Curiously, in Kano, pump price of PMS had dropped to N950 from N960 per litre sold the previous day as filling stations like AY Maikifi, AA Rano and AYM Shafa were dispensing fuel at N950.
No queues of vehicles except a few private cars and commercial motorcycles were seen in each of the stations.
Only a few vehicles were at AY Maikifi filling station at Maiduguri road. A similar scene was observed at an AA Rano filling station at Kwana Hudu junction off Airport Road.
However, at AYM Shafa filling station at Kano club roundabout, fuel attendants were seen dispensing to a lot of vehicles. The number was growing inside the filling station owing to its strategic location on the ever busy Murtala Muhammed way by Club Road and Bompai way.
Daily Trust had reported that NNPC retail filling stations in Kano had adjusted the PMS pump price to N968 from N905 on Monday.
Rising prices despite drop in crude oil prices
Daily Trust reports that the increase in fuel prices started early this week when most filling stations beginning with the Nigerian National Petroleum Company Limited (NNPCL) retail outlets jacked up the prices. Most NNPCL retail stations on Monday adjusted their pump prices, raising the price by almost N100.
From N860 in Lagos, the pump price was increased to N922. Some motorists expressed fear that the pump price may sell at N1000 per litre in the remotest parts of the country.
As soon as NNPCL increased its pump price, many filling stations followed suit. NNPC sold at N922 while Eterna filling station sold at N950 in Ogba. Some of the commercial drivers expressed concerns, highlighting the ripple effect on their businesses. For many marketers, the increase cannot be justified with the sharp drop in crude oil prices in recent times.
Crude oil prices sustain drop
Oil prices, including both WTI and Brent crude, fell in the last few days due to lingering concerns over the trade war between the United States and China and its potential impact on the global economy.
The trade tensions escalated after China sanctioned five U.S. subsidiaries of South Korean shipbuilder Hanwha Ocean, citing their support for U.S. probes against Chinese maritime sectors.
These renewed tensions, coupled with an expected record glut in the oil markets, are adding to concerns about global oil demand and could lead to further price declines.
As of Tuesday, Brent Crude was trading below the $62 a barrel mark, and was down by 2.02% at $62.04. It rose to $62.54 yesterday’s evening amidst uncertainty in the market.
Another report indicated that Brent dropped more than 6% so far in October, deepening year-to-date decline to over 17% in 2025.
Oil, which began the year around $74 per barrel, now struggles at $62 as it tries to hold above the $60 mark. Checks yesterday indicated that Brent Crude was $62.45 while WTI dropped below $60 at $58.27.
With the drop, many marketers expected the price of PMS to also drop in response to the global crude oil price. However, reverse is the case in Nigeria as many motorists, both private and commercial drivers, express concerns over the development.
IPMAN decries situation
A National Officer of the Independent Marketers Association of Nigeria (IPMAN), Alhaji Olanrewaju Okanlawon expressed dismay over the increase in PMS price at the depots. Daily Trust also learnt that Dangote Refinery was not supplying fuel at the moment over an ongoing turnaround at the 650,000 barrel per day facility.
This development coupled with the increased prices has compounded the woes of Nigerians amidst the resurfacing queues in some parts of the country.
The IPMAN official in a chat with our correspondent said, “What we are experiencing is not scarcity but we can’t explain why they increased the price from the depot. The prices just went up suddenly at a time the price of crude oil is coming down at the international market. So we have to be worried.
“So it is concerning and we can’t explain what is happening because of the instability in prices we are experiencing. It is making it difficult for us to plan. Dangote is currently not supplying and the NNPC has also raised the price.”
He raised concern over the price instability in the downstream sector, saying, “From what we are seeing, the stability may happen next year. It is not good for the business as you cannot plan effectively due to the price instability.” He, however, stated that there is no scarcity of the product but prices have changed across the country.
“In Ilorin for instance where I am, the price is around N925 and N930 and it would not be less than N1, 000 in other parts of the country, especially in the far North.
“We are hoping that Dangote will soon resume operation. But I must tell you that it has never been like this that you can’t predict what the price would be. It is unfortunate that the PMS price is going up when crude oil prices are going down and the naira has also stabilized,” he added.
NNPC explains scarcity
When contacted on Wednesday, NNPCL’s Chief Corporate Communications Officer, Andy Odey, said: “The reason for the queues is panic buying, triggered by some retailers running out of stock, likely fueled by concerns about potential scarcity. However, we have sufficient products and systems in place to ensure availability. We are restocking and maintaining deliveries and expect the queues to dissipate soon.”
Daily Trust
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