The House of Representatives Committee on Petroleum Resources (Downstream) has raised the alarm over a potential return of fuel scarcity and a spike in petrol prices across Nigeria within the next 48 hours.
The committee’s chairman, Ikenga Ugochinyere, issued the warning at a press briefing in Abuja, stating that urgent intervention is needed to prevent a nationwide supply crisis.
He cautioned that failure to resolve key supply challenges could lead to widespread fuel shortages, distribution disruptions, and increased pump prices, further worsening the economic burden on Nigerians.
According to the committee, the anticipated price hike is not driven by government policy but by inefficiencies within the fuel supply chain.
Central to the issue is the reported inadequate supply of crude oil to the Dangote Refinery, which the committee said plays a critical role in stabilising domestic fuel availability.
Ugochinyere disclosed that although the refinery is allocated about 21 cargoes of crude oil and requires at least 15 to operate optimally, it is currently receiving only five.
He warned that the shortfall is already affecting refining capacity and poses a serious threat to fuel availability nationwide.
The committee also expressed concern over the quality of crude being supplied to local refineries, noting that substandard grades are being delivered to facilities designed for higher-quality inputs.
It stressed the need to prioritise high-grade crude from the Niger Delta to improve refining efficiency.
Another major issue highlighted is the rising cost of crude oil due to the involvement of international intermediaries.
The lawmaker revealed that domestic refiners now pay over $18 extra per barrel to middlemen, compared to previous charges of $2 to $4, a situation he described as exploitative.
He noted that these additional costs are ultimately transferred to consumers through higher fuel prices.
To avert the looming crisis, the committee called on the Presidential Technical Committee on the crude-for-naira initiative to reconvene within 48 hours to address the supply bottlenecks.
It also urged strict enforcement of the Domestic Crude Oil Supply Obligation under the Petroleum Industry Act and called on President Bola Tinubu to issue directives ensuring compliance by all stakeholders.
While urging Nigerians to remain calm and avoid panic buying, the committee warned that failure to act swiftly could result in long fuel queues, higher transportation costs, and a deeper cost-of-living crisis.
