Fuel Scarcity: Oil Marketers Increase Petrol Pump Price

Major oil marketers across Nigeria have raised the price of Premium Motor Spirit (PMS), commonly referred to as petrol, from N1,010 to N1,050 per litre, reflecting a 4% increase in Lagos and surrounding regions.

Independent marketers have also adjusted their prices, now ranging between N1,100 and N1,200 per litre, up from approximately N1,060 per litre, with prices varying by location.

An investigation by Vanguard reveals that in the deregulated market, petrol prices are not standardized, leading to minor price differences across various filling stations, although some stations maintain similar rates.

Meanwhile, Dangote Refinery has described the claim by the Independent Petroleum Marketers Association of Nigeria (IPMAN) that its members are experiencing difficulties loading refined products from its facility as misleading.

The refinery, in a statement on Thursday, clarified that there is no direct dealing with IPMAN, neither has it accepted any money from it for petroleum purchases.

Naija News recalls IPMAN President, Abubakar Garima, had claimed during a TV interview that despite having paid ₦40 billion to the Nigerian National Petroleum Company Limited (NNPCL), members of the association are facing significant difficulties in loading petrol from the Dangote Refinery in Lagos.

However, Dangote in a statement on Thursday by its Group Chief Branding and Communication Officer, Anthony Chiejina, countered the IPMAN boss, explaining that the petroleum marketers are yet to register or start dealing directly with the refinery.

The Dangote spokesperson emphasized that the refinery can load 2,900 trucks per day, and can also evacuate petroleum products by sea, urged IPMAN to follow the due process as there is fuel in abundance.

The refinery added that currently, it is only in discussion with IPMAN and cannot be held responsible for any payments made to other entities, as the payment mentioned has been made through NNPCL, and not Dangote Refinery.