Fuel Price Increase: IPMAN Challenges NNPC, Considers Halting Operations

Fuel Price Increase: IPMAN Challenges NNPC, Considers Halting OperationsThe Independent Petroleum Marketers Association of Nigeria (IPMAN) has accused the Nigerian National Petroleum Company Limited (NNPCL) of inflating the price of petrol sourced from the Dangote Petroleum Refinery. IPMAN disclosed that the refinery sells petrol to NNPC at around N898 per litre, but NNPC in turn sells the same petrol to independent marketers for as high as N1,010 per litre in Lagos.....KINDLY READ THE FULL STORY HERE▶

This price disparity has led to frustration among IPMAN members, who control over 70% of the nation’s filling stations. As a result, the association has threatened to suspend operations nationwide if the issue is not resolved, a move that could worsen petrol scarcity and long queues across the country.

Meanwhile, the Major Energies Marketers Association of Nigeria (MEMAN), whose members had pre-arranged deals with NNPC, continues to load subsidized petrol from the Dangote refinery. However, IPMAN is demanding a refund from NNPC for previous payments made by its members and is pushing for direct access to Dangote’s fuel to avoid middleman markups by NNPC.

Speaking on behalf of IPMAN, National Publicity Secretary Chinedu Ukadike expressed concern over the unresolved issue and noted that the association’s funds tied up with NNPC have reached N15 billion. Ukadike added that if IPMAN could secure direct access to Dangote’s products, they could offer petrol at a lower rate of around N970 per litre, significantly below NNPC’s current price.

Calls and messages to NNPC and Dangote refinery representatives were not answered at the time of the report, further intensifying concerns over the growing fuel crisis.

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