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IPMAN Criticizes NNPCL for Selling Dangote Petrol at Higher Prices than Imported Fuel

Esther

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has voiced strong criticism against the Nigerian National Petroleum Company Limited (NNPCL) for its decision to sell petrol sourced from the Dangote Refinery at prices higher than imported fuel.


This issue was brought to light by John Kekeocha, IPMAN's National Welfare Officer, during an interview on Channels Television’s Morning Brief breakfast program. Kekeocha expressed his bewilderment over the pricing strategy, stating, "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?" The controversy began when NNPCL started loading the first batch of petrol from the Dangote Refinery on Sunday, purchasing it at N898 per litre. However, retail prices have since surged, with a litre of Dangote petrol now selling for N950 in Lagos and N1,019 in Borno.


This is an increase from the previous price of around N855 per litre at NNPCL retail outlets in Lagos before the Dangote petrol was introduced.


This pricing discrepancy has ignited a heated debate within the Nigerian petroleum industry, raising questions about transparency and fairness.


The situation shows broader concerns about fuel pricing and market dynamics, as stakeholders grapple with the implications of these price changes.




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