The Independent Petroleum Marketers Association of Nigeria (IPMAN) has expressed concerns over the pricing of petrol from the Dangote Refinery, urging the Nigerian National Petroleum Company Limited (NNPCL) to ensure it is not sold at a higher rate than imported fuel.
IPMAN warned that such a price disparity would undermine the nation’s efforts towards energy self-sufficiency and could negatively affect both consumers and marketers.
Speaking on Monday, IPMAN emphasized that the pricing of locally refined petrol should reflect the benefits of domestic production, offering Nigerians a more affordable option.
The association stressed that competitive pricing is vital for the success of the Dangote Refinery and for establishing a sustainable fuel market in Nigeria. IPMAN National Welfare Officer, John Kekeocha, made this statement on Channels Television’s “The Morning Brief” on Monday.
“If NNPC can sell Dangote products higher than the imported products then it doesn’t make sense. What is the celebration we are having all these while then?” he queried.
The Nigerian National Petroleum Company Limited (NNPCL) began loading its first batch of petrol from the Dangote Refinery on Sunday, stating it purchased the product at N898 per litre from the private refinery.
Prior to lifting petrol from the Dangote Refinery, NNPCL retail outlets in Lagos sold petrol at around N855 per litre. However, it now reports that a litre of Dangote petrol is being sold for N950 in Lagos and N1,019 in Borno.
In response, the Dangote Refinery denied selling petrol to NNPCL at N898 per litre. In a statement issued late Sunday, refinery spokesperson Anthony Chiejina described NNPCL’s claim as “misleading and mischievous.”
“It should also be noted that we sold the products to NNPCL in dollars with a lot of savings against what they are currently importing. With this action, there will be petrol in every local government area of the country regardless of their remote nature,” Chiejina said.
The Nigerian National Petroleum Company Limited (NNPCL) maintained its claim of purchasing petrol from the Dangote Refinery at N898 per litre, challenging the refinery to publicly disclose the actual price at which it sold the product. NNPCL also released a detailed breakdown of the prices at which it is selling Dangote petrol across its filling stations nationwide.
Dangote, Africa’s top industrialist, began operations at his $20 billion Lagos-based facility last December, initially processing 350,000 barrels per day. After facing regulatory hurdles, the refinery aims to reach its full capacity of 650,000 barrels per day by the end of the year.
The refinery has already commenced supplying diesel and aviation fuel to marketers and has now added petrol to its offerings.
