Fuel marketers question NNPC’s Dangote Refinery petrol price

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has expressed concern over the decision of the Nigerian National Petroleum Corporation (NNPCL) to sell petrol sourced from the Dangote Refinery at a higher price than imported petrol.

Speaking on Channels Television’s The Morning Brief breakfast programme on Monday, IPMAN National Welfare Officer, John Kekeocha, questioned the logic behind the price difference.

He said: “If NNPC can sell Dangote products at a higher rate than imported products, then it is absurd. So, what are we celebrating all this time?”

Controversy surrounds the increased price of petrol from the Dangote Refinery, which started operations on Sunday.

NNPCL claimed to purchase the petrol at N898 per litre, but Dangote Refinery quickly dismissed the claim as “misleading and baseless.”

READ ALSO: IPMAN tells NNPC’s role in high fuel prices and shortages

Dangote Refinery spokesperson Anthony Chiejina said in a statement that the product was sold to NNPCL in dollars, resulting in significant savings compared to prevailing import prices.

“It is also worth noting that we are selling the product to NNPCL in dollars at a huge saving compared to what they are currently importing. With this move, there will be petrol in every local government area of ​​the country irrespective of its remoteness,” he said.

However, NNPCL insisted that it purchased petrol from Dangote Refinery at N898 per litre and challenged the refinery to release its selling price.

The company also released details of Dangote petrol prices at its filling stations across the country, ranging from N950 to N1,019 per litre.

In Lagos, NNPCL retail outlets previously sold petrol at about N855 per litre but Dangote petrol now costs N950 per litre.
In Borno State, the price is higher at N1,019 per litre.

The pricing dispute has raised concerns among industry stakeholders, with IPMAN calling for clarity and transparency in the pricing mechanism.

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