The Independent Petroleum Marketers Association of Nigeria (IPMAN) has raised concerns over the ongoing fuel price battle between the Nigerian National Petroleum Company Limited (NNPCL) and Dangote Refinery and Petroleum Company, stating that the price fluctuations are severely impacting its members.
The Chairman of IPMAN’s Enugu Depot Community overseeing Anambra, Ebonyi, and Enugu states, Chinedu Anyaso, revealed this during a press briefing in Awka on Friday.
This is coming amidst unconfirmed reports that the Dangote Refinery has reduced depot prices for the third time in 2025.
Anyaso argued that the instability in petrol pricing had created an unpredictable business environment, making it difficult for marketers to plan and sustain their operations.
The price competition has led to reductions in the cost of Premium Motor Spirit (PMS) for consumers — currently selling between N865 and N950 per liter in Awka.
Anyaso noted that the frequent price drops were not driven by global market forces but by the rivalry between the two major fuel suppliers.
According to him, a common challenge is that marketers purchase petrol at a certain price, only to find out, before even leaving the depot, that the price has dropped
“For instance, a marketer will buy products from any of them, and before leaving the depot, you hear that price of petrol has dropped by about N10 or N20 per litre.
He said marketers are on the receiving end of the price war between Dangote and NNPCL. “Our members are incurring losses because of the unstable environment,” he said.
“The cause of the recent drop was that marketers had a discussion with one of the companies, and without any major changes in the market, the other company slashed prices by a wide margin, thereby throwing most of our members into jeopardy,” he added.
Marketers unable to meet financial obligations
Anyaso emphasized that the uncertainty in fuel pricing has made it difficult for marketers to meet financial obligations, including repaying loans and paying staff salaries.
“We can no longer project with certainty; paying off loans and salaries are becoming difficult because profitability is no longer guaranteed due to the regular variation in prices,” he said.
He urged the federal government to step in and ensure stability in the sector by compelling NNPCL to focus on full-scale local production rather than relying on a mix of local refining and importation.
“For the masses to enjoy the full benefit of deregulation and fair pricing, the two giants have to operate from the same standpoint, and NNPCL has to go into full-scale production.
“That is the only way they can compete and also ensure a stable market. The combination of local product and importation cannot guarantee us that; we need to protect marketers and save jobs.”
The IPMAN chairman also appealed to the government to settle outstanding bridge claims owed to petroleum marketers, warning that many businesses have already shut down while others are struggling to stay afloat.
