interviews

Nigeria's downstream petroleum sector has long operated without price visibility, leaving traders, marketers and consumers to navigate a market where critical information was routinely withheld. In under two years, Petroleumprice.ng has made significant strides in changing that. Olatide Jeremiah, Chief Executive Officer of Petroleumprice.ng, spoke to Petroleumprice.ng about the platform's growth, its role in fuel price transparency, Dangote Refinery's growing presence in domestic fuel supply, and the ongoing court battle over import licences.

Nigeria's petroleum haulage sector moves millions of litres of fuel daily. Yet, the logistics chain connecting truck owners to fuel marketers remains largely manual, opaque and financially risky for all parties involved. Product diversion, unverified drivers, and a lack of real-time visibility are structural problems that the sector has carried for years. Marketers bear full liability for losses in transit.

The Major Energies Marketers Association of Nigeria (MEMAN) was recently honoured as the Downstream Petroleum Industry Advocate of the Year at the Petroleumprice.ng Awards. Executive Secretary and CEO Clement Isong speaks on what the recognition means, the association's priorities, and where Nigeria's downstream sector is headed.

Nigeria's liquefied petroleum gas sector is expanding rapidly. Cylinder-based distribution remains the dominant model for millions of households, marked by supply uncertainty, poor consumption visibility and inefficient logistics chains that constrain growth for operators and consumers alike.

Nigeria's downstream petroleum sector depends on the network of storage and distribution infrastructure that moves products from source to station. Private depots sit at a critical node in that chain, serving as the bridge between large-scale supply and the last-mile distribution that keeps fuel stations stocked across the country.

Nigeria's downstream petroleum sector runs on a vast and often invisible network of independent marketers who bridge the gap between large distributors and the everyday consumer. At the centre of that network sits the Independent Petroleum Marketers Association of Nigeria, IPMAN, whose National President, Alhaji Abubakar Maigandi Shettima, has made it his mandate to defend the interests of marketers and hold the industry to account.

Product diversion by truck drivers during haulage, not supply failures at depots, is the primary driver of petroleum shortages in Nigeria's distribution chain, the Depot Manager at Bono Energy Storage Terminal, has said.

Nigeria's downstream sector is navigating its most consequential transition in decades: deregulated prices, a new large scale refinery, and a generation of operators built on importation now forced to rethink everything. Adetunji Oyebanji, who retired in March 2026 as Managing Director and Chief Executive Officer of 11 Plc after 45 years that began on the floor of what was then Mobil Oil Nigeria, tells Petroleumprice.ng that the industry has come full circle and that the country has earned the right to stop looking backwards.

More than two years after the removal of fuel subsidies, Nigerian consumers are still absorbing prices that show no clear path downward. Ogechi Morenikeji Nkwoji, Head of Economic Intelligence, Research and Regulation at the Major Energies Marketers Association of Nigeria, tells Petroleumprice.ng that the problem runs deeper than global oil markets and that fixing it will require infrastructure investment, genuine competition, and policy coordination that have so far remained incomplete.

Nigeria's downstream petroleum sector is being reshaped by deregulation, a new domestic refinery, and mounting foreign exchange pressure. Chinedu Ukadike, Public Relations Officer of the Independent Petroleum Marketers Association of Nigeria(IPMAN), tells Petroleumprice.ng that through every shift, one thing has not changed: independent marketers remain the backbone of fuel distribution in Nigeria, and the market cannot function without them.

Nigeria's downstream petroleum sector rewards very few companies with longevity. BOAZ Commodities Limited has earned nearly nine years in the market by doing something deceptively simple: keeping its word and remaining consistent. Managing Director Ihuoma Okafor tells Petroleumprice.ng that in an industry built on price volatility and fragile trust, integrity is a survival strategy.

Fuel prices in Nigeria have not stabilised despite the arrival of a new super refinery. Jide Pratt, Country Manager of TradeGrid and Chief Operating Officer of Aiona, tells PetroleumPrice.ng that the problem was never about refining capacity. It is about policy, and Nigeria is running out of excuses not to fix it.