Nigeria TV Info 
Marketers Blame Depots as Petrol Price Nears ₦1,000 per Litre Across Nigeria

Petrol marketers have attributed the recent surge in pump prices — now approaching ₦1,000 per litre in several parts of the country — to exploitative pricing by private depot owners. According to the Independent Petroleum Marketers Association of Nigeria (IPMAN), many depots have continued selling the product far above the government-approved ex-depot rate, forcing retail outlets to increase pump prices.

Marketers claim that while the Nigerian National Petroleum Company Limited (NNPCL) still sells petrol at a subsidized rate to some selected depots, most independent operators are unable to access the product directly, leaving them at the mercy of private depots who sell between ₦830 and ₦850 per litre.

In Lagos and Ogun States, pump prices now hover between ₦950 and ₦980, while in northern regions such as Abuja, Kano, and Maiduguri, petrol sells for as high as ₦1,050 per litre due to logistics and transportation costs.

IPMAN officials have called on the Federal Government to intervene urgently, accusing the depots of creating artificial scarcity and sabotaging the market. The association also urged NNPCL to ensure equitable distribution and direct supply to independent marketers to stabilize prices nationwide.

Analysts warn that the continued price surge may worsen inflation, increase transportation costs, and deepen the economic hardship facing millions of Nigerians.