The Independent Petroleum Marketers Association of Nigeria (IPMAN) has expressed strong discontent regarding the recent move by the Nigerian National Petroleum Company Limited (NNPCL).
The association is particularly concerned about the pricing strategy that sees petrol sourced from the Dangote Refinery being sold at a premium compared to imported fuel, a decision they believe could have significant implications for the market and consumers alike.
In a significant development for Nigeria’s fuel sector, the Nigerian National Petroleum Company Limited (NNPCL) commenced the loading of its inaugural petrol shipment from the Dangote Refinery this past Sunday.
The NNPCL reported that it acquired the petrol at a price of N898 per litre from the private refinery.
In a statement released late Sunday, Anthony Chiejina, the spokesperson for the refinery, addressed the assertions made by the NNPCL. He characterized these claims in a manner that suggests a need for further scrutiny and clarification.“misleading and mischievous”.
In a significant shift in fuel pricing, NNPCL retail outlets in Lagos were offering petrol at approximately N855 per litre on Sunday.
However, following the latest developments, the price at the Dangote Refinery has surged to N950 per litre in Lagos and an even steeper N1,019 in Borno as of Monday.
This sudden increase has sparked a wave of reactions from the public, highlighting the ongoing concerns surrounding fuel affordability in the region.
In a recent appearance on Channels Television, John Kekeocha, the National Welfare Officer of IPMAN, shared insights on pressing issues affecting the organization. His comments, made on Monday, September 16,
“If NNPC can sell Dangote products higher than the imported products then it doesn’t make sense. What is the celebration we were having all these while then”
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