The Independent Petroleum Marketers Association of Nigeria (IPMAN) has threatened to stop operations nationwide due to the high cost of petrol sold to its members by the Nigerian National Petroleum Company Limited (NNPCL).
IPMAN revealed that the cost of petrol from the Dangote Petroleum Refinery to NNPCL is about N898 per litre, but NNPCL is selling the same product to independent marketers at N1,010 per litre in Lagos. This significant price disparity has led IPMAN to protest and demand a refund for earlier petrol supply payments made by its members.
The association, which controls over 70 per cent of filling stations nationwide, is considering downing tools if the issue is not resolved immediately. This could exacerbate the existing petrol scarcity and queues across the country.
Meanwhile, members of the Major Energies Marketers Association of Nigeria are still loading subsidised petrol from the Dangote refinery based on earlier arrangements with NNPCL. However, IPMAN is seeking to purchase products directly from the Dangote refinery to avoid the higher prices imposed by NNPCL.
The National Publicity Secretary of IPMAN, Chinedu Ukadike, stated that the association may take action if NNPCL does not respond to their grievances. He mentioned that efforts to reach Dangote for direct loading are in progress and a meeting between both parties is expected soon. If allowed to buy directly from Dangote, IPMAN plans to sell petrol at a lower rate of N970 per litre.
The recent price hike, which is the second in one month, has seen petrol prices rise by about 14.8 per cent or N133. This has triggered widespread anger among Nigerians, with the Nigeria Labour Congress and the Organised Private Sector calling for the immediate reversal of the hike.
Nigerian lawyer and human rights activist Femi Falana has also criticized NNPCL, stating that the decision to fix fuel prices is illegal and contravenes the provisions of the Petroleum Industry Act, which stipulates that prices should be determined by market forces.
