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- Marketers accuse NNPCL of inflating Dangote petrol price, MEMAN continues loading subsidised PMS
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has threatened to halt operations nationwide in response to the rising cost of Premium Motor Spirit (PMS), or petrol, supplied by the Nigerian National Petroleum Company Limited (NNPCL). On Thursday, IPMAN revealed that NNPCL is selling petrol to independent marketers at a significantly inflated price compared to the cost from Dangote Petroleum Refinery.
According to IPMAN, petrol is being sold to them at N1,010 per litre in Lagos, despite NNPCL buying it at N898/litre from Dangote. IPMAN, which oversees over 70% of filling stations across Nigeria, condemned this price disparity and demanded a refund for previous payments made to NNPCL. The association also threatened to suspend operations if the issue is not promptly addressed, a move that could exacerbate fuel shortages and lead to longer queues at filling stations nationwide.
Meanwhile, the Major Energies Marketers Association of Nigeria (MEMAN) continues to load subsidized petrol from Dangote Refinery under a separate agreement with NNPCL. MEMAN, which has extensive storage infrastructure, is reportedly less affected by price fluctuations and is still utilizing petrol purchased earlier at a subsidized rate.
IPMAN officials expressed frustration over the unresolved price discrepancies, with IPMAN’s National Publicity Secretary, Chinedu Ukadike, stating that the association is exploring direct purchases from Dangote Refinery at lower prices. IPMAN noted that if they could source petrol directly from Dangote, they could sell it at N970/litre, significantly lower than the NNPCL’s rates.
NNPCL has yet to respond to IPMAN’s concerns. Meanwhile, the price of petrol continues to rise, triggering anger and concern among Nigerians as fuel scarcity looms across the country.
