The Independent Petroleum Marketers Association of Nigeria (IPMAN) has expressed concerns about the pricing strategy of the Nigerian National Petroleum Company Limited (NNPCL) regarding petrol sourced from the Dangote Refinery.
According to the association, it is unreasonable for NNPCL to sell locally produced petrol at higher prices than imported products, raising questions about the benefits of local production.
John Kekeocha, IPMAN’s National Welfare Officer, voiced the association’s concerns during an interview on Channels Television’s “Morning Brief” programme monitored in Owerri.
Kekeocha emphasized that selling Dangote Refinery’s petrol at a premium compared to imported fuel defeats the purpose of having local refining capacity.
“What is the celebration we are having all these while then?” he questioned, reflecting on the high hopes tied to the commencement of local refining by the Dangote facility.
The Dangote Refinery, a $19 billion investment expected to transform Nigeria’s energy sector, was seen as a significant milestone in reducing the nation’s dependence on fuel imports.
With local production, many Nigerians anticipated a reduction in petrol costs and a boost to the economy. However, the reported price disparity between Dangote-refined petrol and imported counterparts has led to disappointment within industry circles.
The NNPCL began loading its first batch of petrol from the Dangote Refinery on Sunday
However, IPMAN’s statements highlight the ongoing concerns surrounding the pricing and its impact on consumers, particularly in a nation where petrol affordability is a critical issue for millions.