Marketers accuse NNPCL of inflating Dangote petrol price; MEMAN continues loading subsidized PMS
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has threatened to halt operations nationwide due to the rising cost of petrol, which the Nigerian National Petroleum Company Limited (NNPCL) is selling to its members. On Thursday, IPMAN revealed that while NNPCL purchases petrol from Dangote Petroleum Refinery at about N898 per litre, it sells the same product to independent marketers at N1,010 per litre in Lagos. The association, controlling over 70% of filling stations in Nigeria, is demanding a refund for prior payments made to NNPCL for fuel supplies. This could worsen the petrol scarcity already causing long queues across the country.
Meanwhile, it was learned that members of the Major Energies Marketers Association of Nigeria (MEMAN) are still receiving subsidized petrol from the Dangote refinery based on previous agreements with NNPCL. IPMAN National Publicity Secretary, Chinedu Ukadike, stated that the association might resort to drastic actions if NNPCL does not promptly address the price disparity.
IPMAN President Abubakar Maigandi emphasized that NNPCL’s selling price to independent marketers is significantly higher than what it pays for the product. He noted that funds owed to independent marketers by NNPCL have been pending for about three months. Maigandi detailed that while NNPCL buys petrol at N898 per litre, it charges independent marketers N1,010 in Lagos, N1,045 in Calabar, N1,050 in Port Harcourt, and N1,040 in Warri. He added that the total amount owed to marketers has reached N15 billion.
On Wednesday, NNPCL raised petrol prices in Abuja and Lagos, sparking public outrage. The price increase marks a 14.8% rise in one month and over a 430% hike since the current administration took office. However, NNPCL has not responded to the marketers’ demands, and IPMAN is considering withdrawing its services if the issue remains unresolved. Efforts are underway to negotiate direct loading from Dangote, which could allow independent marketers to sell petrol at a lower rate of N970 per litre.
In contrast, MEMAN officials reported no issues with NNPCL, citing their large storage capacity as a buffer against sudden price fluctuations. The association continues to load subsidized petrol, purchased at N766 per litre when lifting began from the Dangote refinery, allowing them to avoid the price hikes faced by independent marketers.
As prices continue to rise, concerns about the impact on Nigeria’s economy grow. Experts warn of increasing unemployment, economic instability, and the burden on small businesses, as the price hike affects production costs across vario
us sectors.
NGI 
NewsGlobal Reporters