IPMAN Urges FG to Intervene With Dangote Refinery as Petrol Prices Hit N1,345

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has called on the Federal Government to intervene in the operations of the Dangote Refinery as petrol prices continue to rise across the country.

IPMAN National President, Abubakar Maigandi, made the appeal in an interview with DAILY POST on Tuesday, amid a fresh increase in retail petrol prices in Abuja and surrounding areas.

Petrol is now selling for between N1,310 and N1,345 per litre in parts of the Federal Capital Territory following recent increases in the prices charged by Dangote Refinery and depot owners.

The latest rise has renewed concerns among petroleum marketers and consumers over the impact of higher ex-depot and gantry prices on retail fuel costs.

Maigandi urged the Federal Government to engage directly with Dangote Refinery and other local refiners to find ways of lowering the cost of petrol supplied to marketers.

“We are appealing to the Federal Government to broker a deal with Dangote Refinery to reduce fuel prices,” the IPMAN president said.

He argued that government intervention in the downstream petroleum sector should not automatically be interpreted as a return to fuel subsidy, stressing that authorities could step in during periods of economic difficulty.

“The government should intervene with Nigerian refiners, and this will lead to a reduction in fuel prices. It is different from fuel subsidy. In a situation where there is difficulty, the government should step in,” Maigandi told DAILY POST.

The appeal comes as Nigerians continue to contend with elevated petrol prices, with the cost of products from domestic refineries and depots remaining a major factor in determining what consumers pay at filling stations.