The Independent Petroleum Marketers Association of Nigeria (IPMAN) has raised concerns about the pricing of petrol from the Dangote Refinery, questioning why it is sold at a higher rate than imported fuel.
Thank you for reading this post, don't forget to subscribe!John Kekeocha, IPMAN’s National Welfare Officer, voiced these concerns on Channels Television’s The Morning Brief on Monday, arguing that if NNPC is selling Dangote petrol for more than imported options, the rationale behind the celebration of the refinery’s operations is questionable.
The Nigerian National Petroleum Company Limited (NNPCL) began distributing petrol from the Dangote Refinery on Sunday, stating that it acquired the fuel at N898 per litre. However, petrol from NNPC retail outlets in Lagos is currently sold at around N855 per litre. In contrast, Dangote petrol is now priced at N950 per litre in Lagos and N1,019 in Borno.
Dangote Refinery has refuted claims of selling petrol to NNPC at N898 per litre. Anthony Chiejina, a spokesman for the refinery, labeled the NNPC’s statement as “misleading and mischievous,” and emphasized that the refinery sold the petrol in dollars, offering savings compared to imported fuel. Chiejina also highlighted the refinery’s aim to ensure petrol availability across all local government areas, including remote locations.
Despite this, NNPC has stood by its claim of purchasing petrol from Dangote at N898 per litre and has challenged the refinery to disclose the actual sale price.
The refinery, which began operations last December with a capacity of 350,000 barrels per day, plans to reach its full capacity of 650,000 barrels per day by year-end. It has also started supplying diesel and aviation fuel.
Nigeria, heavily dependent on imported refined petroleum products due to non-operational state-owned refineries, is experiencing severe energy challenges.
Fuel prices have surged since the removal of subsidies in May 2023, from about ₦200 per litre to over ₦1000 per litre, exacerbating the difficulties faced by citizens coping with erratic electricity supply.
