The Independent Petroleum Marketers Association of Nigeria (IPMAN) has voiced concerns over the ongoing price war between the Nigerian National Petroleum Company Limited (NNPCL) and Dangote Petroleum, which is negatively impacting its members. Mr. Chinedu Anyaso, Chairman of IPMAN’s Enugu Depot Community overseeing Anambra, Ebonyi, and Enugu states, highlighted these issues during an interview in Awka, Anambra State.
Anyaso remarked that the current instability in petrol prices has created uncertainty in the market and diminished investor confidence. While the competition has led to lower prices for consumers—currently ranging from N865 to N950 per litre in Awka—the fluctuations are attributed to inter-company rivalry rather than changes in the international market.
He explained that marketers are suffering losses due to these price discrepancies, as prices can drop by N10 or N20 per litre after they have purchased fuel.
This unpredictability complicates financial planning, making it challenging for marketers to cover operational costs such as loans and salaries.To address these challenges, Anyaso urged NNPCL to ramp up production to stabilize the market.
He also called on the Federal Government to settle outstanding payments owed to marketers, emphasizing that for the benefits of deregulation and fair pricing to truly reach consumers, both NNPCL and Dangote must operate under the same conditions.
He stressed the need to protect marketers to safeguard jobs in the industry.
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