The Independent Petroleum Marketers Association of Nigeria (IPMAN) has voiced concerns about the ongoing fuel price rivalry between the Nigerian National Petroleum Company Limited (NNPCL) and Dangote Refinery, arguing that it is causing significant disruptions to its members’ businesses.
The chairman of IPMAN’s Enugu Depot Community, which covers Anambra, Ebonyi, and Enugu states, Chinedu Anyaso, expressed these concerns during a press briefing in Awka on Friday.
Reports have suggested that Dangote Refinery has lowered depot prices for the third time in 2025. Anyaso explained that these frequent price changes are not being driven by global market forces but are a result of competition between NNPCL and Dangote Refinery.
He highlighted that the instability in petrol prices has created an unpredictable business environment, making it difficult for marketers to plan and operate effectively.
Currently, the cost of Premium Motor Spirit (PMS) in Awka ranges between N865 and N950 per litre, due to these fluctuations.
Anyaso pointed out that marketers are often caught off guard by sudden price drops. For example, after purchasing petrol, they may discover that the price has fallen by N10 or N20 per litre before even leaving the depot. This constant price variation is leaving marketers at a disadvantage, as they are facing losses due to the instability.
The IPMAN chairman further explained that the uncertainty surrounding fuel pricing has made it difficult for marketers to meet financial obligations, including paying staff salaries and repaying loans. With profitability increasingly uncertain due to frequent price changes, businesses are struggling to stay afloat.
Anyaso urged the Nigerian government to intervene and ensure stability in the sector by encouraging NNPCL to focus on full-scale local production rather than relying on a mix of local refining and importation.
He emphasised that for the benefits of deregulation and fair pricing to be realised, both NNPCL and Dangote must operate under the same conditions.
Full-scale production, Anyaso argued, is the key to creating a stable market environment. He also called on the government to address outstanding bridge claims owed to petroleum marketers, warning that many businesses have already shut down, with others on the brink of collapse.
