The Independent Petroleum Marketers Association of Nigeria (IPMAN) has announced that the full deregulation of petrol pricing and the withdrawal of NNPC Limited as the sole off-taker from the Dangote Refinery grant marketers the freedom to source petrol from various suppliers, including imports.
This statement follows NNPC’s recent increase of petrol prices by 15%, bringing the pump price to N998 per liter in Lagos and N1,030 per liter in Abuja.
In an interview with IPMAN’s Public Relations Officer, Chief Chinedu Ukadike, emphasized that marketers will seek products from the most competitive sources. He noted that the current business environment surrounding petrol pricing is opaque, with marketers often left in the dark about key decisions.
“The ongoing situation is clouded in secrecy, but as full deregulation takes effect, marketers will have the opportunity to import fuel, allowing us to evaluate our options between Dangote and other suppliers,” Ukadike stated.
Earlier, IPMAN President Alhaji Abubakar Maigandi Shettima demanded a refund of N15 billion from NNPC Limited for petrol orders placed by independent marketers that were not fulfilled.
In an interview,Shettima argued that if NNPC’s pricing exceeds that of Dangote Refinery, the national oil company must refund payments made by independent marketers.
He criticized NNPC for requesting additional payments from marketers without supplying the products for which they had already paid.
However, an anonymous expert challenged the claims of the oil marketers, asserting that NNPCL does not engage in business with associations like IPMAN.
“NNPCL does not have a business relationship with IPMAN because the association did not complete the necessary forms or make payments to lift petrol from the company. Instead, NNPCL works with various companies directly,” the expert stated.
