The Independent Petroleum Marketers Association of Nigeria (IPMAN) has hinted at plans to import more petrol from abroad.
The decision is in line with the full deregulation of the downstream oil sector as outlined in the Petroleum Industry Act (PIA).
The IPMAN decision comes amid an ongoing price tussle and negotiation with Dangote refinery on petrol lifting pricing.
TimesNow.com.ng reported that marketers claimed the NNPCL is selling fuel for over N1,000 per litre, despite purchasing it from Dangote at N900 per litre.
The marketers are now demanding that NNPC limited refund about N15 billion for petrol orders placed and not yet supplied.
Chinedu Ukadike, IPMAN’s public relations officer, who confirmed the plans, said that marketers would source their products from wherever they feel is cheaper and make them competitive.
Ukadike pointed out that the current business environment in terms of petrol pricing is shrouded in secrecy with marketers not adequately informed about decisions before they were taken, Vanguard reports.
His words:
Earlier, TimesNow.com.ng reported Nigerians’ reactions to the new fuel prices and have called on NNPC Limited to reconsider its decision.
According to Nigerians who spoke to TimesNow.com.ng and reactions from social media, they believe that fuel prices are too expensive.
The latest petrol price adjustment is the third in 2024.
Source: TimesNow.com.ng
