No More 10k/Litre: Petrol Price Finally Crashes As Nigeria Intervenes, Supplies Fuel To Niger
- Pump prices have started to drop as a result of Nigeria's supply of petrol in the nearby Niger Republic
- This happened as hundreds of fuel tankers started sailing to the Niger Republic from Nigeria
- According to a report, a group of high-ranking military junta officials from Niger met with federal government authorities in Abuja
Legit.ng journalist Zainab Iwayemi has 5-year-experience covering the Economy, Technology, and Capital Market.
As a result of Nigeria's supply of Premium Motor Spirit (petrol) in the neighbouring Niger Republic, pump prices have begun to decline.
Insider security sources familiar with the situation and several border community inhabitants attested to the fact that hundreds of petrol tankers have begun travelling from Nigeria to the Niger Republic.
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The Punch had reported that the Niger Republic resorted to Nigeria for assistance due to a petrol shortage. Despite months of diplomatic difficulties and hostile language, the West African nation made contact with Nigeria.
According to the report, representatives of the federal government met with a delegation of senior military junta officials in Abuja. The report also claimed about 300 trucks of PMS were reportedly authorised for delivery to the nation after the discussion.
The agreement was reportedly reached to utilise it as a "strategic bargaining tool" in ongoing negotiations with Niger.
The source, who spoke in confidence due to the diplomatic nature of the matter, had said:
“We do not want to blow our trumpet. Rather, we want to use it as a bargaining chip for negotiation, as we continue to engage with them to bring them back to ECOWAS.
Numerous border community residents and security sources commented on the development on Sunday, March 23, 2025, saying that many trucks had been transporting gasoline from Nigeria to the Niger Republic.
The Nigeria Customs Service stated that it was a diplomatic matter and, therefore, could not verify it. However, insider security sources confirmed the information, leading to a drop in the price of petrol from over N10,000 per litre last week to approximately N5,000 per litre on Sunday.
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An investigation revealed that the foreign country's petrol situation was progressively getting back to normal.
In a conversation on the phone on Sunday, Faruku Lawali, a resident of Agadez, stated that although lines were still present at the gas stations, things had greatly improved from a few days prior.
He gave the Nigerian administration credit for sticking by the Republic of Niger when it counted most.
“The support and supply of fuel has helped us in no small way and we appreciate the government for that, honestly. We the citizens commend and celebrate our neighbour, the people, and the government of Nigeria for their support,” Lawali said.
The transit of petroleum tankers from Nigeria to the Republic of Niger was confirmed by a security officer at the Nigerian border end in Illela, who talked to our correspondent on condition of anonymity because he lacked the authority to comment on the development.
The officer said:
“There have been movements of petroleum products from here in Nigeria to the Niger Republic.
“I believe it is part of the agreement reached with the government here. They come here with some documents and the appropriate security agents attend to them before their passage to the Niger Republic.”
Petrol imports hit 154 million litres weekly
Legit.ng earlierreported that about seven vessels carrying imported petrol were expected to dock at seaports between Monday, March 17 and 23, 2025.
In a document released by the Nigerian Ports Authority, the vessels were expected to carry 115,000 metric tonnes, representing 154.22 million litres of petrol.
The document said the vessels would bring the products via three seaports in Nigeria to boost fuel supply nationwide.
Proofreading by James Ojo, copy editor at Legit.ng.
