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10,000 oil dealers may close shop as drop in fuel consumption, high cost hit

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A recent report revealed that there’s been a 92% drop in petrol consumption in Nigeria since President Tinubu assumed office on May 29, 2023.
No fewer than 10,000 oil marketers are at risk of shutting down as fuel consumption plummets nationwide due to skyrocketing prices and product scarcity.
The markers expressed their fears in an interview with Sunday Punch.
Pulse reported that the latest data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMPDRA) put nationwide fuel consumption at 4.5 million litres per day in August 2024.
The figure represents a significant drop from 60 million litres per day in May 2023, a staggering 92% decline.
According to the data, only 16 out of the 36 states received fuel from the Nigerian National Petroleum Company (NNPC) Limited in August, leading to widespread shortage.
Fuel prices have been rising at an exponential rate since President Bola Tinubu came to office in 2023.
The President announced the end of the petrol subsidy regime on his first day in office, triggering a price surge from ₦185 to over ₦1,000 by October 2024.
The continuous price increases have further stifled the already battered economy, driving up the cost of food and transportation, and fuelling inflation to a three-decade high.
The situation has plunged many Nigerians into chronic hardship as lamentation becomes the order of the day.

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A report by a French news agency also detailed how Nigerians have been forced to abandon their vehicles, opting instead for public transportation as the hardship permeates every strata of the nation.
Fuel scarcity worsens as NNPCL increased petrol price amid scarcity. [Punch]
Oil marketers raise the alarm
The national leadership of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) lamented that the drop in petrol consumption had caused its members huge losses, adding that 10,000 of them were on the verge of closing shop.
The PETROAN National Public Relations Officer, Dr Joseph Obele, said the cost of loading a truck of fuel had risen from ₦7m to ₦47m in the last 16 months.
“Three days ago, there was a meeting at the national headquarters of PETROAN. At the meeting, there was, an indication that about 10,000 of our members would quit the business in the next 45 days because their trading capital had been severely affected,” Obele told Sunday Punch.
He also warned of the potential job losses as the affected marketers had a combined total staff strength of about one million.
“That was why we wrote a letter to Mr President, dated October 21, requesting a grant of N100bn to save the affected marketers’ businesses from shutting down in the next few weeks,” the PETROAN spokesman added.
For his part, the President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Abubakar Maigandi, also confirmed the massive reduction in fuel consumption, adding that members of the union were equally affected.
“There is a drop in consumption and the price of a truckload is higher now. So, we have reduced the quantity of fuel we buy. For instance, someone who bought 10 trucks before can only buy eight now. So, we haven’t been getting the right quantity that we are supposed to get. We sell only the little quantities we get,” he said.
Meanwhile, the leadership of the Nigeria Union of Petroleum and Natural Gas Workers (PENGASSAN) stated that the inability of the oil marketers to buy products had resulted in job losses for truck drivers and petrol station workers in the country.
“The economy is not smiling at all. Many petrol station owners cannot even buy a single truckload, and this has affected our members. Those of them that are truck drivers hardly get loads to carry anymore. Many petrol stations have closed down and our members who are petrol station workers have lost their jobs,” NUPENG Secretary-General, Afolabi Olawale told the platform.
Asked to state the actual number of NUPENG members affected, Olawale said, “This is an unfolding situation. It’s evolving, so I may not be able to give you the actual number of people affected now because we have those in the informal and formal sectors. We have people in the upstream, downstream, and midstream. But I don’t have the statistics right here with me to give you.
“Though everybody is affected, those in the downstream are the most affected. It affects those in the downstream sector directly because they are truck drivers, station workers, and the representatives of the marketers at different depots.”
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Latest Trending News
Benue attacks: Community members sheltered the attackers, gave them food and women – CDS Musa alleges

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3 hours agoon
June 19, 2025By
John
The Chief of Defence Staff (CDS), General Christopher Musa, has alleged that some residents of Benue state provided accommodation, food, and even women to the assailants who carried out the recent deadly attack on Yelwata community that left over one hundred and fifty persons dead. The military chief said this today June 19 at an expanded media interaction at the Defence Headquarters in Abuja. He said local informants also helped the attackers identify the location of the Internally Displaced Persons (IDP) camp in Yelwata, resulting in the high casualty figure recorded in the massacre. The security chief disclosed that troops had received intelligence about potential attacks in various communities across the state and were mobilized accordingly. However, upon arrival at the initially mentioned locations, it turned out the information was misleading, as the real attack had already been executed in Yelwata using a hit-and-run approach. These criminals were harboured by people in the community. They were given food. They were even given women. They were guided on where the IDP camp was located. Yet, security forces received no information, the CDS lamented. He emphasized that President Bola Tinubu has directed the full activation of all national security forces Army, Navy, Air Force, Police, and intelligence agencies to track down the perpetrators and bring them to justice. This is why we consistently urge communities to be vigilant and report suspicious activities. Security is everyones responsibility, he stated. General Musa used the occasion to urge the Federal Government to urgently address the issue of Nigerias porous borders, which he described as a growing threat amid rising instability in the Sahel region. He cited the flow of arms and fighters from crisis-hit countries like Sudan, Libya, and the Central African Republic, warning that these elements are exploiting Nigerias vast and unmonitored frontiers. He proposed learning from countries like Pakistan, which successfully built a fortified double-layer border wall to separate itself from Afghanistan. The CDS offered heartfelt condolences to the families and communities affected by the attacks, especially the tragic killings in Yelwata and other violence-stricken areas across the country. These senseless killings weigh heavily on our hearts. We remain fully committed to ensuring justice and restoring peace to every part of Nigeria, he said The post Benue attacks: Community members sheltered the attackers, gave them food and women – CDS Musa alleges appeared first on Linda Ikeji Blog.
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Atiku calls Tinubu's visit to Benue 'a political show'

Published
6 hours agoon
June 19, 2025By
JohnFormer Vice President Atiku Abubakar has slammed President Bola Tinubu’s condolence visit to Benue State, describing the trip as a political spectacle.
According to Atiku, the President’s visit lacked any sincere efforts to address the security issues plaguing the state or express sympathy for victims of violence.
Speaking through his Media Adviser, Paul Ibe, the former Peoples Democratic Party (PDP) presidential flagbearer, accused the Tinubu administration of focusing on political theatrics instead of working out real solutions to the prevailing insecurity in the country.
The President travelled to the troubled Benue State on Wednesday, June 18, 2025, where he visited the injured victims of recent killings in the Yelewata community and held a town hall meeting with stakeholders.
ALSO READ: Benue is facing genocidal invasion by herder terrorists – Monarch tells Tinubu to his face
“It’s commendable when a leader empathises with the people; offering a shoulder to lean on and sharing in their grief is a mark of true leadership. However, the visit was marred by political theatrics. Children were lined up on the highway, waving at the president in the rain; subjecting them to such conditions was unnecessary,” Ibe told Vanguard on Thursday.
Ibe tackles Tinubu over insecurity
The former Vice President’s media aide also condemned what he termed the government’s failure to tackle the root causes of insecurity, faulting the lack of arrest of suspects despite the death of over 200 people in the latest bloodbath in Benue.
“The same security agencies that failed to prevent or investigate this tragedy were quick to tear gas peaceful protesters demanding accountability for their safety. This is unacceptable,” Ibe added.
He further took a swipe at the current administration’s overall handling of governance, concluding that the Federal Government lacks understanding of the true nature of Nigeria’s security problems.

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“When you misdiagnose a problem, the solution will inevitably be flawed; garbage in, garbage out. Look at the individuals heading the security portfolios: they’re politicians, not experts. They’re focused on political gains rather than the demands of their roles,” he criticised.
He highlighted the importance of inclusive governance, arguing that the alleged alienation of certain regions, religions and ethnic groups by the Tinubu government has worsened instability.
“Inclusiveness is a tool for national unity and stability. When you dismiss or alienate people, they will inevitably create chaos,” Ibe stated.
ALSO READ: How come no one has been arrested? – Tinubu queries IGP over Benue killings
In conclusion, he blasted the administration for turning its focus on the 2027 elections, claiming that it has distracted it from more urgent national concerns.
“The focus on 2027 is distracting from pressing issues, leaving problems unaddressed and insecurity rampant. There’s nothing new this administration has introduced to tackle these challenges,” he added.
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Latest Trending News
Child therapist admits to sharing baby-r@pe p0rn

Published
9 hours agoon
June 19, 2025By
John
A female child therapist has confessed to sharing horrific videos and photos of baby r@pe online, where she also got a sick pleasure out of pretending to be a dad who r@ped his own kids. Renee Hoberman, a 36-year-old licensed social worker from Plainview, pleaded guilty in federal court in Islip on Wednesday, June 18, to distributing child p0rn videos on the social media app Kik, including the r@pe of a baby less than 1 year old, federal prosecutors said. She told investigators that she got off on the stomach-churning content, which she shared in 2024 while she was working in Melville as a therapist with children aged 17 and under. The defendant admitted to distributing extremely vile and unthinkable videos depicting the horrific sxual abuse of babies. The videos the defendant distributed and sought for her own perverse pleasure showed the most innocent members of our society being restrained and violently r@ped, stated US Attorney Joseph Nocella Jr. The defendants crimes should outrage and offend every decent member of our society, he added. One nauseating video shared by Hoberman depicted a baby between 6 months and 1 year old being held down and r@ped by an adult man, prosecutors said. She also participated in perverted online chat rooms in which she pretended to be the father of several children and claimed to have had sx with them. Hoberman chatted under several usernames, including badgurl854, AlwayzSpnkednkd, prettyprncss2388, Daddywhospanks N@ked, and multiple others during the disgusting incidents, which allegedly occurred between June and October 2024. The user further claimed that he would have an@l sx with the children and would punish the children by getting n@ked, stripping the children n@ked, and spanking them while the other children watched, the criminal complaint stated. Hoberman, still posing as a man, also uploaded two videos showing child sx abuse, which she claimed were her children, prosecutors said. She even invited one sicko to visit his family in New York to spank and sxually abuse the fictional kids. Authorities zeroed in on Hoberman after they received several tips about the abuse from Kik. They found child sxual abuse content in a hidden folder on her phone, and she admitted to sharing child pornography on other messaging apps. She admitted to federal agents that she has a preference for children from infancy to age three, and that she prefers violent depictions of the children in child pornography, according to the complaint. Hoberman faces up to 20 years in prison.The post Child therapist admits to sharing baby-r@pe p0rn appeared first on Linda Ikeji Blog.
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