•We can’t plan, make projections –Business owners
By Adewale Sanyaolu
Nigerians are currently battling widespread inconsistencies in petrol pricing as pump prices swing unpredictably across the downstream market.
Consequently, many motorists and businesses are frustrated as they struggle with budget pressures and the daily challenge of securing affordable fuel.
With the development stoking fresh waves of concern among Nigerian consumers, many business owners lament that they can no longer plan or make expenditure projections as they face an uneven landscape of pump prices, with little clarity or consistency.
They added that the recent upward movement of the price of petrol would further create holes in their pockets as it destabilises their operations.
At the center of the disruption is the Dangote Refinery whom marketers have alleged was making business decisions and planning difficult for them to project.
At the heart of the ongoing disruption is the Dangote Refinery, which marketers allege is making business planning increasingly difficult. The latest flashpoint came on Friday, when the refinery raised the ex-depot price of petrol from N825 to N880 per litre, a move that has unsettled both marketers and, more so, consumers already burdened by soaring fuel costs.
The refinery, according to the pricing template monitored by Daily Sun on petroleumprice.ng, revealed that while Dangote was selling at N880 per litre, other petrol ex-depot prices as published by the trading platform showed that Aiteo is selling at N893 per litre, Ever at N920 per litre, Bovas at N910 per litre, Rainoil at N920 per litre and WOSBAB also at N920 per litre.
Some of the consumers who spoke to Daily Sun in separate interviews lamented that the cost of petrol is beginning to take a negative toll on their finances as about 40 to 50 per cent of their income goes into the purchase of petrol.
A commercial bus operator, who identified himself as Jide Akanbi, said the latest hike was definitely going to erode his profit margins.
He disclosed that petrol that was meant to serve him for three trips would now be used on two trips or less.
“This disruption has led to frequent changes in transport cost almost on a weekly basis and consumers are equally tired because the majority have fixed income but expenses keep rising,”.
Another tricycle operator, Mr. Chinedu Okoro, called on the Government to address the issue of frequent changes in the cost of petrol. He added that they were barely managing to survive in an economy that is mostly powered by petrol and diesel.
An importer and distributor, Maxwell Uche, told Daily Sun that planning and projections are hard to do as things are currently.
“You can’t plan. You can’t make projections. What you spent this week on petrol isn’t what you’ll spend next week. This is disruptive”, he lamented.
Meanwhile, the President of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), Mr. Billy Gillis-Harry, recently expressed concern about the frequent and sometimes arbitrary changes in petrol prices by Dangote Refinery and NNPC, particularly impacting their members’ businesses.
While welcoming price reductions, the association emphasised the need for price stability and consultation within the industry to avoid disrupting the downstream sector.
The association said PETROAN members, who are retail outlet owners, are struggling to plan their businesses due to the fluctuating prices. They are facing challenges with loan repayments, salaries, and maintaining profit margins as prices change frequently.
The association, however, advocated for a more predictable pricing system, suggesting a 180-day period for observing market trends before making price adjustments, saying this would allow for better business planning and investment decisions.
“While deregulation is seen as a positive step, PETROAN emphasises the need for both NNPC and Dangote to adopt a collaborative approach to ensure fair pricing and protect marketers. They also suggest that importation should not be discouraged, as it can contribute to market stability.”
But the President of the Dangote Group, Aliko Dangote, last Thursday said his 650,000-barrel capacity refinery was “increasingly” relying on the United States for crude oil.
According to findings, the refinery is projected to import a total of 17.65 million barrels of crude oil between April and July 2025, beginning with about 3.65 million barrels already delivered in the past two months.
This is in addition to the ongoing allocations under the Federal Government’s naira-for-crude policy.
Dangote informed the Technical Committee of the One-Stop Shop for the sale of crude and refined products in naira initiative that the refinery was still battling crude shortages, which had led it to resort to imports from the United States.
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