Middle East Conflict: Nigeria Has Petrol For 30 Days Supply, Major Marketers Assure

Major fuel marketers in the country have assured the public that Nigeria holds over 30 days of petrol supply, even as Middle East conflicts disrupt global oil markets.

Industry leaders shared this update during a webinar hosted by the Major Energies Marketers Association of Nigeria (MEMAN) and S&P Global Energy.

They discussed rising tensions, supply risks, and Nigeria’s move to free-market fuel pricing.

MEMAN chairman, Huub Stokman, called the situation a “mixed bag”—good for oil producers but tough on fuel sellers and buyers. He pointed to volatile prices, higher shipping costs, and supply shifts as countries seek new oil sources.

Stokman highlighted Nigeria’s strengths, like the Dangote Refinery, which helps shield against shocks.

He noted challenges such as pipeline theft, unclear rules, and weak infrastructure but stressed NNPC Ltd. remains the backup supplier.

From a global view, S&P experts warned of tighter fuel markets, especially diesel and jet fuel, due to disruptions like Iran’s output cuts and ships rerouting around Africa’s Cape of Good Hope.

Sub-Saharan Africa faces extra risks from heavy imports and low storage.

“Nigeria’s path to free pricing is bumpy but vital,” said CEO of Zera Advisory, Joe Nwakwue.

He added that local refining won’t fully block global price swings—transparent competition is key.

The session, led by MEMAN’s executive secretary, Clement Isong, ended with agreement: Steady policies and investments will turn short-term worries into long-term gains. For now, Nigerians can count on that 30-day petrol buffer.