The promise of price relief comes in the wake of rising fuel costs since the state oil company, NNPCL, began lifting petrol from Dangote Refinery. In Lagos, prices have skyrocketed to ₦950 per litre, with northern consumers facing even steeper charges of up to ₦1000 per litre.
During an appearance on Channels Television, Chinedu Ukadike, spokesperson for the Independent Petroleum Marketers Association of Nigeria (IPMAN) revealed that discussions are underway with the refinery for potential direct petrol lifting.
“It’s quite simple: the liberalization of the market is progressing. Dangote Refinery must consider IPMAN as a key stakeholder,” Ukadike stated. “We expected that discussions would start with us rather than NNPCL because we have the capacity to distribute every drop produced by Dangote. We operate in every corner of Nigeria and control about 85% of filling stations.”
He emphasized that once direct lifting from Dangote begins, price disparities would diminish. “If IPMAN operates independently, prices will drop, fostering competition and reducing our reliance on other sources for products.”
Ukadike noted that Dangote had previously collaborated with IPMAN when introducing diesel to the market, leading to a significant drop in prices from ₦1600 to between ₦1000 and ₦1100.
“This is a deregulated economy, and all stakeholders deserve an equal opportunity,” he concluded.
