Fuel marketers query NNPC’s pricing of Dangote Refinery petrol

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has expressed concerns over the Nigerian National Petroleum Company Limited’s (NNPCL) decision to sell petrol lifted from the Dangote Refinery at a higher price than imported ones.

Speaking on Channels Television’s The Morning Brief breakfast program on Monday, IPMAN National Welfare Officer, John Kekeocha, questioned the logic behind the pricing disparity.

He said: “If NNPC can sell Dangote products higher than the imported products, then it doesn’t make sense. What is the celebration we are having all these while then?”

The controversy surrounds the pricing of petrol lifted from the Dangote Refinery, which began operations on Sunday.

The NNPCL claimed it purchased the petrol at N898 per litre but Dangote Refinery swiftly dismissed the claim as “misleading and mischievous.”

READ ALSO:IPMAN narrates NNPC’s role in high cost, scarcity of fuel

The spokesman for Dangote Refinery,Anthony Chiejina, in a statement explained that the products were sold to NNPCL in dollars, resulting in significant savings compared to existing import prices.

“It should also be noted that we sold the products to NNPCL in dollars with a lot of savings against what they are currently importing. With this action, there will be petrol in every local government area of the country regardless of their remote nature,” he said.

However, NNPCL insisted that it purchased petrol from Dangote Refinery at N898 per litre and challenged the refinery to release its selling price.

The company also released a breakdown of prices for Dangote petrol at its filling stations across the country, ranging from N950 to N1,019 per litre.

In Lagos, NNPCL retail outlets previously sold petrol for around N855 per litre but the price of Dangote petrol now stands at N950 per litre.
In Borno State, the price is higher at N1,019 per litre.

The pricing dispute has sparked concerns among industry stakeholders, with IPMAN calling for clarity and transparency in the pricing mechanism.

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