The Independent Petroleum Marketers Association of Nigeria (IPMAN) has stated that with the full deregulation of petrol pricing and the withdrawal of NNPC Limited as the sole off-taker from the Dangote Refinery, marketers are now free to source their products from multiple suppliers, including imports.
An industry expert, however, highlighted that NNPCL does not deal with associations such as IPMAN, but rather with companies that apply and pay for their petroleum products.
IPMAN’s position came a day after the NNPC raised the pump price of petrol by 15%, bringing it to N998 per litre in Lagos and N1,030 per litre in Abuja.
IPMAN’s Public Relations Officer, Chief Chinedu Ukadike, emphasised that marketers will source their products from wherever is most cost-effective, making IPMAN more competitive. He also noted that the current petrol pricing environment is unclear, as marketers are often not informed about pricing decisions beforehand.
“The situation has been shrouded in secrecy, but with time, everything will become clear because full deregulation is now in effect. Marketers can now import petrol, so we’ll see what happens. We’ll then decide whether to go with Dangote or elsewhere, depending on where the prices are better,” Ukadike said.
Earlier, IPMAN President, Alhaji Abubakar Maigandi Shettima, demanded a refund of N15 billion from NNPC Limited for petrol orders placed by independent marketers that were not fulfilled. In an interview with Channels TV, Shettima stated that if NNPC’s prices are higher than those of the Dangote Refinery, the national oil company must refund the payments made by marketers. He also criticised NNPC for requesting additional payments from marketers despite failing to deliver products for which payments had already been made.
An anonymous expert, however, countered the oil marketers’ claims, asserting that NNPCL does not engage in business with IPMAN. “NNPCL does not have a business relationship with IPMAN because the association did not complete the necessary forms or make payments to lift petrol from the company. Instead, NNPCL deals with individual companies,” the expert said.