Pulse Nigeria is the most followed news and entertainment platform, informing and engaging young Nigerians round the clock, providing updates by the hour.

Pulse Nigeria

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has voiced its concerns over the pricing of petrol from the Dangote Refinery, warning that it should not surpass the cost of imported fuel.

Marketers decry Dangote petrol prices exceeding cost of imported fuel | Pulse Nigeria

Segun Adeyemi

<h2>The Independent Petroleum Marketers Association of Nigeria (IPMAN) has voiced its concerns over the pricing of petrol from the Dangote Refinery, warning that it should not surpass the cost of imported fuel.</h2>

IPMAN stressed that selling Dangote products at a higher rate than imports undermines the nation’s goals of energy self-sufficiency and could adversely affect consumers and marketers.

John Kekeocha, IPMAN’s National Welfare Officer, expressed these concerns during an appearance on Channels Television’s The Morning Brief programme.

He urged the Nigerian National Petroleum Company Limited (NNPCL) to address the pricing disparity.

“If NNPC can sell Dangote products higher than imported products, then it doesn’t make sense. What is the celebration we are having all these while then?” Kekeocha questioned.

READ ALSO: <a href="https://www.pulse.ng/news/marketers-fumes-as-dangote-clears-only-nnpcl-to-buy-petrol/v6cwwrd">Marketers decry potential monopoly as Dangote clears NNPC sole buyer of fuel</a>

The controversy escalated when the NNPCL began distributing petrol from the Dangote Refinery, claiming it was purchased at N898 per litre.

However, Dangote Refinery responded by denying this price point. Anthony Chiejina, a spokesperson for Dangote Refinery, labelled the NNPCL’s claim as “misleading and mischievous.”

Chiejina clarified that the refinery sold the product in dollars, yielding significant savings compared to imported fuel.

In response, NNPCL released a <a data-link-role-code="open_new_tab" href="https://www.pulse.ng/business/domestic/nnpc-releases-pms-prices-to-counter-dangote-refinery-denial/b49j607">detailed breakdown of its pricing</a>, revealing that petrol from the Dangote Refinery was being sold for ₦950 per litre in Lagos and up to ₦1,019 per litre in Borno.

As Nigeria grapples with energy challenges, this price dispute raises concerns for citizens who have already seen fuel costs triple since the subsidy was removed in May 2023.

IPMAN’s call for competitive pricing aims to ensure that Nigerians benefit from locally refined products while promoting the success of the Dangote Refinery, which is expected to reach its full capacity by the end of the year.

The NNPCL recently disclosed that it had accumulated a staggering $6 billion in debt, adding further pressure to the already strained fuel market. [Getty Images]

Marketers decry Dangote petrol prices exceeding cost of imported fuel

Pulse Picks

Business

News

Entertainment

Lifestyle

Politics

Local

Metro

World

News 

Celebrities

Music

Movies

Fashion

Beauty & Health

Relationships & Weddings

Food & Travel

Domestic

International 

Sports 

Celebrity Picks

Pulse Marketing

Explore categories

Influencer Awards

Company Pages

Breaking News & Top Stories | Pulse Nigeria

Video

Checkout our authors for the latest content across entertainment, sports, business and more. Be first to receive exclusive updates with your free subscription straight to your phone | Pulse Nigeria 

Authors | Pulse Nigeria

| Pulse Nigeria

Read the latest news across entertainment, sports, business and more. Be first to receive exclusive updates with your free subscription straight to your phone | Pulse Nigeria

Search for the latest content across entertainment, sports, business and more. Be first to receive exclusive updates with your free subscription straight to your phone | Pulse Nigeria

Search Results | Pulse Nigeria

Watch the latest videos across entertainment, sports, business and more. Be first to receive exclusive updates with your free subscription straight to your phone | Pulse Nigeria