John Kekeocha, the National Welfare Officer of the Independent Petroleum Marketers Association of Nigeria (IPMAN), has voiced concerns about the pricing of petrol from the newly launched Dangote Refinery. Kekeocha questioned the benefits of the refinery if its locally produced petrol ends up being more expensive than imported alternatives.
Kekeocha argued that, given the proximity of the refinery, local logistics should make domestically refined petrol cheaper than imported products. However, with the current price of petrol at N950, he sees little reason to celebrate. He suggested that the high price reflects a lack of government intervention and subsidy, which previously helped reduce the cost of imported fuel.
“Before now, imported petrol in Nigeria was priced between N400 and N619,” Kekeocha noted. “The government has historically covered the difference between the actual cost and what consumers paid. With Dangote’s refinery in operation, the expectation was that local production would make petrol cheaper, but that hasn’t been the case.”
He called on the government to take immediate steps to ensure that petrol prices are reduced, emphasizing that government action is key to achieving a significant drop in prices. Kekeocha’s comments highlight concerns about the economic viability of local refining and the need for regulatory intervention to ensure that the Dangote Refinery delivers on its promise of more affordable fuel for Nigerians.
