The Independent Petroleum Marketers Association of Nigeria (IPMAN) has pointed out its observations concerning the pricing of petrol from the Dangote Refinery.
IPMAN urged the Nigerian National Petroleum Company Limited (NNPCL) to ensure that Dangote Refinery’s petrol is not sold at a higher price than imported fuel.
It argued that such a disparity would be counterproductive to the nation’s drive for energy self-sufficiency and could negatively impact consumers and marketers alike.
According to IPMAN, the pricing strategy for locally refined petrol should reflect the advantages of domestic production, offering Nigerians a more affordable option.
The association stressed that maintaining competitive pricing is crucial for the success of the Dangote Refinery and for fostering a sustainable fuel market in the country.
IPMAN National Welfare Officer, John Kekeocha, stated on Channels Television’s The Morning Brief breakfast program that if NNPC sells Dangote products at a higher price than imported products, it would not make sense.
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Kekeocha questioned the celebration of the refinery’s launch if it would not offer competitive pricing.
However, the NNPCL began loading the first batch of petrol from the Dangote Refinery on Sunday, stating that it purchased petrol at N898 per liter from the private refinery.
This price is higher than the current market price of imported petrol. The NNPCL has been selling petrol at its retail outlets in Lagos for around N855 per liter but is now selling Dangote petrol for N950 per liter in Lagos and N1,019 in Borno.
Dangote Refinery has denied selling petrol to the NNPCL at N898 per liter, describing the claim as “misleading and mischievous.” The refinery stated that it sold the products to NNPCL in dollars, with enough savings compared to imported fuel.
The NNPCL has insisted that it purchased petrol from Dangote Refinery at N898 per liter and challenged the refinery to release the price it sold petrol.
It also released a breakdown of the pricing of Dangote petrol at its filling stations across the country.
The Dangote Refinery, which commenced operations in December, aims to achieve its full capacity of 650,000 barrels per day by the end of the year.
