Petroleum marketers in Nigeria are expressing concern and frustration over the pricing controversy surrounding petrol from Dangote Refinery. They have called for greater transparency from the refinery and the Nigerian National Petroleum Company Limited (NNPCL) regarding the actual sale price of petrol.
On Monday, NNPCL released new retail prices for petrol from Dangote Refinery, with rates varying from N950.22 per liter in Lagos to N1,019.22 per liter in Borno State. However, the exact price Dangote Refinery charged NNPCL remains undisclosed, fueling uncertainty among marketers.
Billy Gillis-Harry, President of the Petroleum Products Retail Outlets Owners Association (PETROAN), and Abubakar Maigandi, President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), have both demanded clarity on the pricing. Gillis-Harry emphasized the need for transparency from Dangote Refinery to ensure stakeholders understand the cost and can make informed purchasing decisions. “We should be able to know exactly what price is coming from Dangote Refinery Petrol to us,” he told DAILY POST.
Meanwhile, Maigandi expressed frustration with the sector’s current state, citing conflicting price information and the impact on independent marketers. He criticized the lack of clear pricing from NNPCL and highlighted the high costs associated with obtaining petrol. “We are waiting for NNPCL to release prices that independent marketers will be buying petrol. They have not,” Maigandi said.
The controversy has further complicated the petrol supply landscape, as Dangote Refinery’s production of approximately 25 million liters per day is insufficient to meet the country’s total demand. Marketers argue that without additional imports, the domestic supply may not be able to fully satisfy national consumption, which stands at N50 million liters daily according to the Nigerian Midstream and Downstream Petroleum Regulatory Authority.
As the situation develops, stakeholders are calling for a resolution to the pricing issues and a more transparent approach to ensure fair market conditions and stable petrol prices across Nigeria.
