Petrol marketers in Nigeria have suspended fresh purchases of Premium Motor Spirit (PMS) as ex-depot prices at private facilities in Lagos climbed to N1,220 per litre.
The buying pause follows the suspension of fuel loading at the Dangote Petroleum Refinery, a key supply node that has disrupted downstream distribution channels.
The halt in procurement signals acute supply-side pressure in the country’s largest commercial hub.
With depot prices surging, marketers are withholding capital to avoid locking in high costs amid uncertainty over immediate resale viability.
This development underscores the fragility of the domestic fuel supply chain even as the nation transitions toward greater self-sufficiency through the Dangote facility.
The price spike occurs against a backdrop of heightened regulatory scrutiny.