The Independent Petroleum Marketers of Nigeria (IPMAN) has lamented that the price war between the Nigerian National Petroleum Company Limited (NNPCL) and Dangote Petroleum Refinery is affecting its members.
The Chairman of IPMAN, Enugu Depot Community in charge of Anambra, Ebonyi and Enugu States, Chinedu Anyaso, made this known during an interview with journalists in Awka, the Anambra State capital, on Friday, March 14, 2025.
Anyaso said the price instability in the sector had resulted in a high level of uncertainty and a reduction in investors’ confidence.
Premium Motor Spirit (PMS), fondly called petrol, sells for between N865 and N950 per litre in Awka.
Anyaso said though the competition had helped in price reduction, which was also good for members of the public, the fluctuation in the price of petrol arose from competition between the NNPCL and the Dangote refinery and not due to variations in the international market.
According to him, marketers are on the receiving end of the price war between Dangote refinery and NNPCL.
The IPMAN chairman stated: “Our members are incurring losses because of the unstable environment.
“For instance, a marketer will buy products from any of them and before leaving the depot, you hear that petrol price has dropped by about N10 or N20 per litre.
“The cause of the recent drop was that marketers had discussion with one of the companies and without any major changes in the market, the other company slashed prices by a wide margin, thereby throwing most of our members into jeopardy.
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“We can no longer project with certainty; paying of loans and salaries are becoming difficult because profitability is no longer guaranteed due to the regular variation in prices.”
Anyaso added that to restore stability in the market, the NNPCL has to go into full-time production.
He called on the federal government to revisit the outstanding bridge claim owed to marketers, saying most businesses had packed up while others were struggling to remain due to non-payment.
Anyaso said: “For the masses to enjoy the full benefit of deregulation and fair pricing, the two giants have to operate from the same standpoint, NNPCL has to go into full-scale production.
“That is the only way they can compete and also ensure stable market, combination of local products and importation cannot guarantee us that; we need to protect marketers and save jobs.”
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