Marketers have reacted to the increased fuel pricing issued by the Nigerian National Petroleum Company Limited (NNPCL), according to a report from ArizeTv. Although NNPCL sells gasoline at a price below the declared rate, the Independent Petroleum Marketers Association of Nigeria (IPMAN) pointed out that the company gets its fuel from the Dangote Refinery.CONTINUE FULL READING>>>>>
Higher fuel prices at filling stations are due to various factors, including transportation and logistics costs.
IPMAN confirmed that NNPCL sells petrol to marketers at N895 per litre, which is slightly lower than the N898 per litre NNPCL purchases from the Dangote Refinery.
Chinedu Ukadike, IPMAN’s national public relations officer, disclosed this in an interview on Arise TV, explaining why marketers are not currently sourcing fuel directly from the Dangote Refinery.
Ukadike said, “Independent marketers are buying at prices lower than what NNPCL published, which raises concerns.
As marketers, we’re exploring ways to secure petrol at a cheaper rate. Although NNPCL buys from Dangote at N898 per litre, we are purchasing at N895, and prices vary depending on the depot location.”
He further explained that marketers have adjusted pump prices to reflect transportation and logistics costs, enabling them to remain profitable.
Ukadike also expressed the desire for independent marketers to buy directly from the Dangote Refinery, believing it would help reduce petrol prices and eliminate fuel queues.
“We control over 80% of filling stations,” he said. “If the refinery sells directly to us, it will foster competition. We have the capacity to purchase 25 million litres daily.”CONTINUE FULL READING>>>>>
