The Nigerian National Petroleum Company Limited (NNPC) has announced that petrol from the Dangote Refinery will sell for up to N1,019 per litre in northern states and N950 per litre in Lagos.
This pricing has raised concerns among oil marketers, who believe it may encourage the importation of fuel, as imported petrol could be cheaper in some areas. They also called for greater transparency in how the petrol prices are set.
The Independent Petroleum Marketers Association of Nigeria (IPMAN) criticized the high price, arguing that locally refined petrol should be cheaper than imported fuel.
They emphasized that the high cost could negatively affect both consumers and marketers, urging NNPC to review its pricing strategy to reflect the benefits of domestic production.
There are also worries about NNPC being the only buyer of petrol from the Dangote Refinery, with business leaders warning that this could create a monopoly.
They are calling for more competition in the market and greater transparency in fuel pricing to avoid burdening Nigerians, who are already facing financial hardships.