NewsDesk Your trusted news source
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has expressed concerns over the ongoing price war between the Nigerian National Petroleum Company Limited (NNPCL) and Dangote Petroleum, stating that it is negatively impacting its members.
Speaking in Awka on Friday, the Chairman of IPMAN’s Enugu Depot Community, Mr. Chinedu Anyaso, highlighted how price fluctuations in the petroleum sector were creating uncertainty and eroding investor confidence.
According to the News Agency of Nigeria (NAN), petrol prices currently range between N865 and N950 per litre in Awka. Anyaso noted that while competition has led to lower prices for consumers, the instability is hurting marketers who struggle to keep up with sudden price drops.
“Our members are incurring losses because of the unstable environment. A marketer may purchase fuel at a given price, only to see the cost drop by N10 or N20 per litre before even leaving the depot,” he said.
He added that recent price cuts were not driven by global market trends but by aggressive competition between the two petroleum giants, making it difficult for marketers to remain profitable.
To address the instability, Anyaso urged the federal government to ensure that NNPCL engages in full-scale production rather than relying on a mix of local refining and imports.
“For the masses to truly benefit from deregulation and fair pricing, NNPCL must operate at full production capacity. Relying on both local production and imports cannot guarantee stability,” he stated.
Additionally, he called on the government to clear outstanding bridge claims owed to marketers, warning that many businesses have already shut down while others are struggling to survive.
“We need to protect marketers and save jobs. If this issue is not addressed, the instability will continue to hurt businesses and the economy,” Anyaso warned.
