According to Channels Television, Oil marketers in Nigeria have assured consumers that petrol prices will drop once they begin direct lifting of products from the Dangote Refinery.
This follows the recent price surge to ₦950 per litre in Lagos and over ₦1000 in northern states, after the Nigerian National Petroleum Company Limited (NNPCL) began lifting petrol from the refinery.
The Spokesperson for the Independent Petroleum Marketers Association of Nigeria (IPMAN), Chinedu Ukadike, expressed optimism during an interview on Channels Television’s Morning Brief.
He stated that discussions are ongoing between IPMAN and Dangote Refinery to allow direct product lifting, which would foster competition and reduce price disparities.
Ukadike emphasized that IPMAN, which controls 85% of filling stations in the country, is well-positioned to distribute the refinery’s products efficiently.
He cited the reduction in diesel prices as evidence of how direct market participation can drive prices down, expecting the same result with petrol once IPMAN is involved.
He concluded, “If IPMAN becomes independent in lifting products, prices will drop. This will create competition and eliminate price differentials in the market.”
SOURCE: News Hub Creator
