About 1.3 billion litres of petrol have been imported into the country, according to the General Coordinator for the South‑West region of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, Ayo Kadoso. He made the disclosure on Saturday while accompanying a Federal Government task‑force team inspecting petrol‑price compliance at the Ijegun tank farms in Lagos.
Kadoso explained that the 1.3 billion litres are split between 580 million litres stored in inland depots and 690 million litres in marine/offshore depots, providing roughly 32 days of supply. “We have sufficient fuel in the country,” he said. “I can assure you that everything will be fine in a few days because we will monitor distribution continuously and ramp up enforcement.”
The regulator also affirmed the government’s commitment to keep fuel affordable, noting that petrol is being sold to consumers at the regulated price of N172 per litre. “We have always monitored the system across the entire value chain, from the vessel’s arrival to the retail pump. Now we see light at the end of the tunnel, and the federal government will ensure compliance with the regulated price,” Kadoso added.
Mike Osatuyi, National Controller of Operations for the Independent Petroleum Marketers Association of Nigeria (IPMAN), told motorists that IPMAN members are prepared to adhere to the new pricing policy, provided depot owners and the Nigerian National Petroleum Corporation Limited (NNPCL) fulfill their obligations. “All of my members will load at N172 per litre. What worries us is how the government will sustain supplies to the depots and maintain the regulated price as promised. I hope there is a genuine commitment from the government to keep supplies coming in,” he said. Osatuyi also warned that any IPMAN member who fails to comply with the new price will face sanctions.
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