As Nigerians continue to express frustration over the recent fuel price hike by the Nigerian National Petroleum Company (NNPC) Limited, NigeriaMedia provides the latest updates on petrol scarcity, rising fuel prices, and reactions from the government and citizens.
Price Of Dangote Fuel Higher Than Other Sources, We Must Consider Nigerians – IPMAN
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has claimed that last week, fuel prices from the Dangote Refinery were higher than those from other sources. IPMAN explained that it is only fair for its members to source fuel where the price is lower to make a profit.
Yakubu Suleiman, the National Assistant Secretary of IPMAN, discussed this on Friday during an interview with Arise News.
He noted that Dangote should clarify the pricing of his products regularly.
Suleiman emphasized that IPMAN can only advise its members to purchase fuel from sources offering a lower price.
He stated, “Prices are determined by international pricing. Dangote is supposed to be saying like every day, ‘This is the price I’m going to sell this product.’
“But he cannot be able to do that unless he (Dangote) engages the stakeholders. And you cannot just say okay, we must only buy in his own depot.
“IPMAN cannot just sit down and say ‘We will tell our members, all of you go to Dangote Refinery and buy your product and load’. We cannot just do that. This is a deregulated system.
“We have to source where products are much cheaper. Then we would inform our members to go and load product in any depot that the product is cheaper.
“If Dangote has a product and is selling N1000, let’s assume, and there are other places that are selling N900. We can’t just say because for the sake we are doing business with Dangote, ‘Okay go and do it’. It’s not profitable to us. We must go where the price is lower; where we get profit. That is it.”
Fuel Scarcity: Oil Marketers Raise Petrol Pump Price
Major oil marketers across Nigeria have increased the price of Premium Motor Spirit (PMS), commonly known as petrol, from N1,010 to N1,050 per litre, representing a 4% rise in Lagos and surrounding areas....Read Full Article [Click Here>]
Independent marketers have also raised their prices, now ranging between N1,100 and N1,200 per litre, up from about N1,060 per litre, with variations depending on the location.
A Vanguard investigation reveals that in the deregulated market, petrol prices are not standardized, leading to minor price variations across different filling stations, though some stations have maintained similar pricing.
Meanwhile, Dangote Refinery has refuted claims by the Independent Petroleum Marketers Association of Nigeria (IPMAN) that its members are facing challenges loading refined products from its facility. In a statement on Thursday, the refinery clarified that it has no direct dealings with IPMAN and has not accepted any funds from it for petroleum purchases.
Seven Vessels Carrying Petroleum Products Arriving at Lagos Ports – NPA
The Nigerian Ports Authority (NPA) has announced that seven ships are expected to arrive at Lagos ports on Friday, carrying various petroleum products.
According to NPA’s “Daily Shipping Position,” these seven vessels, out of a total of nine anticipated, will bring in diesel, crude oil, bulk urea, petrol, and aviation fuel.
The News Agency of Nigeria reported that the remaining two vessels are set to arrive with containers of assorted goods.
The NPA noted that the vessels would dock at several terminals, including Sifax, ENL Consortium Terminals, and Apapa Bulk Terminal (ABT) in Lagos.
“The remaining two vessels will berth with containers carrying different goods.
“The nine expected vessels will berth at Sifax, ENL Consortium Terminals, Apapa Bulk Terminal (ABT), among other terminals in Lagos,” it said.
