IPMAN condemns higher prices for Dangote petrol than imports

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has voiced its concerns over the pricing of petrol from the Dangote Refinery, warning that it should not surpass the cost of imported fuel.

IPMAN stressed that selling Dangote products at a higher rate than imports undermines the nation’s goals of energy self-sufficiency and could adversely affect consumers and marketers.

John Kekeocha, IPMAN’s National Welfare Officer, expressed these concerns during an appearance on Channels Television’s The Morning Brief programme.

He urged the Nigerian National Petroleum Company Limited (NNPCL) to address the pricing disparity.

“If NNPC can sell Dangote products higher than imported products, then it doesn’t make sense. What is the celebration we are having all these while then?” Kekeocha questioned.

The controversy escalated when the NNPCL began distributing petrol from the Dangote Refinery, claiming it was purchased at N898 per litre.

However, Dangote Refinery responded by denying this price point. Anthony Chiejina, a spokesperson for Dangote Refinery, labelled the NNPCL’s claim as “misleading and mischievous.”

Chiejina clarified that the refinery sold the product in dollars, yielding significant savings compared to imported fuel.

In response, NNPCL released a detailed breakdown of its pricing, revealing that petrol from the Dangote Refinery was being sold for ₦950 per litre in Lagos and up to ₦1,019 per litre in Borno.

As Nigeria grapples with energy challenges, this price dispute raises concerns for citizens who have already seen fuel costs triple since the subsidy was removed in May 2023.

IPMAN’s call for competitive pricing aims to ensure that Nigerians benefit from locally refined products while promoting the success of the Dangote Refinery, which is expected to reach its full capacity by the end of the year.