Nigeria’s oil and gas sector experienced significant price movements across depots nationwide during the week of 20–24 January 2025. This Depot Weekly Review captures the opening and closing prices for Premium Motor Spirit (PMS), Automotive Gas Oil (AGO), Liquefied Petroleum Gas (LPG), and Aviation Turbine Kerosene (ATK) across key depots in Lagos, Port Harcourt, Delta, and Calabar.
Lagos Depots: Dockyard, Coconut, and Satellite Axes
Dockyard Axis
- PMS:
- Aiteo: Opened at ₦970, closed at ₦960 (-₦10).
- Nipco: Opened at ₦970, closed at ₦965 (-₦5).
- AGO:
- Nipco: Opened at ₦1,200, closed at ₦1,100 (-₦100).
- LPG:
- Nipco: Opened at ₦1,050, closed at ₦1,025 (-₦25).
- Navgas: Opened at ₦1,075, closed at ₦1,007.5 (-₦67.5).
Coconut Axis
- PMS:
- Swift: Opened at ₦970, closed at ₦960 (-₦10).
- Sahara: Opened at ₦980, closed at ₦960 (-₦20).
- AGO:
- Ibeto: Opened at ₦1,110, closed at ₦1,090 (-₦20).
- Sahara: Opened at ₦1,100, closed at ₦1,090 (-₦10).
- LPG:
- Techno Gas: Opened at ₦1,080, closed at ₦1,000 (-₦80).
- ATK:
- Duport: Opened at ₦1,120, closed at ₦1,115 (-₦5).
- Africa Terminal: Opened and closed at ₦1,115.
Satellite Axis
- PMS:
- Wosbab: Opened at ₦970, closed at ₦960 (-₦10).
- A.A Rano: Opened at ₦970, closed at ₦960 (-₦10).
- AGO:
- Wosbab: Opened at ₦1,100, closed at ₦1,090 (-₦10).
- A.A Rano: Opened at ₦1,100, closed at ₦1,090 (-₦10).
- LPG:
- Rainoil: Opened at ₦1,075, closed at ₦1,000 (-₦75).
- ATK:
- Rainoil: Opened and closed at ₦1,150.
Port Harcourt Depots
PMS:
- Bulk Strategic: Opened at ₦1,005, closed at ₦981 (-₦24).
AGO:
- Zamson: Opened at ₦1,106, closed at ₦1,100 (-₦6).
LPG:
- Stockgap: Opened and closed at ₦1,132.5.
Delta Depots
PMS:
- Rainoil Warri: Opened and closed at ₦975.
- A.Y.M Shafa: Opened and closed at ₦975.
- Matrix Warri: Opened at ₦980, closed at ₦975 (-₦5).
- Prudent Oghara: Opened at ₦975, closed at ₦972 (-₦3).
AGO:
- A.Y.M Shafa: Opened at ₦1,105, closed at ₦1,100 (-₦5).
- Prudent Oghara: Opened and closed at ₦1,100.
- Matrix Warri: Opened at ₦1,105, closed at ₦1,100 (-₦5).
- Taurus: Opened at ₦1,106, closed at ₦1,100 (-₦6).
- EDO Refinery: Opened and closed at ₦1,105.
- Optima: Opened at ₦1,107, closed at ₦1,098 (-₦9).
LPG:
- Prudent Oghara: Opened at ₦1,125, closed at ₦1,120 (-₦5).
- Matrix Warri: Opened and closed at ₦1,125.
ATK:
- Matrix Warri: Opened and closed at ₦1,250.
Calabar Depots
PMS:
- Alkanes: Opened at ₦995, closed at ₦978 (-₦17).
- Mainland: Opened at ₦995, closed at ₦979 (-₦16).
- Sobaz: Opened at ₦990, closed at ₦976 (-₦14).
- Zone 4: Opened at ₦995, closed at ₦978 (-₦17).
- Northwest: Opened and closed at ₦990.
- Fynefield: Opened at ₦990, closed at ₦978 (-₦12).
Key Observations
PMS Trends
Prices for Premium Motor Spirit declined across most depots, with the most notable reduction observed at Port Harcourt (₦24).
AGO Volatility
Automotive Gas Oil experienced steep price drops in Lagos and Delta, with the highest reduction recorded at Nipco Dockyard (₦100).
LPG Movements
Liquefied Petroleum Gas prices saw significant reductions, particularly at Coconut Axis’s Techno Gas (₦80) and Dockyard’s Navgas (₦67.5).
Stable ATK Prices
Aviation Turbine Kerosene prices remained steady in most depots, with minor reductions at Coconut Axis’s Duport (-₦5)
The depot price movements for the week highlight the continued instability in Nigeria’s downstream market. With PMS prices seeing gradual declines and LPG showing sharper reductions, market participants must adapt to these changes. However, ATK’s stability underscores consistent supply to the aviation sector.
