The Independent Petroleum Marketers Association of Nigeria (IPMAN) has called on Dangote Refinery to lower its ex-depot petrol price from ₦970 per litre, citing a drop in the landing cost to ₦900.28 per litre.
The Federal Government’s naira-for-crude programme, designed to supply crude to local refineries, has encountered setbacks.
Despite a promise from the NNPC Limited to provide Dangote Refinery with 385,000 barrels per day, deliveries have fallen short.
According to the refinery’s Vice President, Devakumar Edwin, the shortfall has forced the facility to import crude to meet its 650,000-barrel daily capacity.
Civil society organisations have criticised the government for failing to translate local production efforts into lower fuel prices.
They attribute the high costs to oil cartel activities and inadequate measures to manage escalating expenses.
The Petroleum Retail Outlets Owners Association of Nigeria (PETROAN) has ruled out importation, instead focusing on reliance on local refineries.
Meanwhile, IPMAN expressed optimism that deregulation would eventually lead to competitive pricing in the market.
