Petroleum marketers in Nigeria demand transparency on Dangote Refinery’s petrol pricing following conflicting reports from NNPCL. Marketers insist that domestic production alone cannot meet the country’s fuel consumption, calling for continued importation to cover shortfalls.
[dropcap]N[/dropcap]igerian petroleum marketers are expressing concerns over the ongoing controversy surrounding Dangote Refinery’s petrol pricing, following statements by the Nigerian National Petroleum Company Limited (NNPCL) on Monday.
The NNPCL announced petrol retail prices, including N950.22 per litre in Lagos and higher prices across other states, but confusion arose after Dangote Refinery disputed NNPCL’s claims.
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Petroleum marketers, represented by the President of the Petroleum Products Retail Outlets Owners Association (PETROAN), Billy Gillis-Harry, and the Independent Petroleum Marketers Association of Nigeria (IPMAN) President, Abubakar Maigandi, have demanded that Dangote Refinery disclose the exact price it sold petrol to NNPCL to ensure transparency.
They argue that understanding the correct pricing is crucial for marketers to set fair retail prices.
Despite the NNPCL listing petrol prices, it has yet to reveal the price at which it will sell Dangote Refinery’s petrol to independent marketers, creating uncertainty.
Independent marketers typically sell petrol at higher prices than NNPCL retail outlets, which could push fuel prices to around N1,200 per litre.
In response to the controversy, Gillis-Harry emphasized that transparency is essential, and the Dangote Refinery must clarify its pricing to ensure fair competition.
He also stressed that domestic production alone is insufficient to meet Nigeria’s daily fuel consumption of 50 million litres, according to recent data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). Gillis-Harry explained that importation will remain necessary to make up the shortfall.
IPMAN President Maigandi echoed these sentiments, expressing frustration with the conflicting reports and high costs of petrol.
He urged the government to restore functionality to Nigeria’s other refineries, which could help stabilize prices.
As the debate continues, the petroleum sector is closely watching developments on both pricing and supply issues.
