Marketers Demand Cheaper NNPC Fuel Amid Price Controversy

|By Adejumo Adekunle –

Oil marketers have outlined conditions for patronizing the newly revamped Port Harcourt Refinery, operated by the Nigerian National Petroleum Company Limited (NNPCL). They insist the refinery’s petrol price must undercut that of the Dangote Petroleum Refinery, which currently sells at ₦970 per litre.

Despite claims that NNPCL’s petrol price is ₦1,045 per litre, the company clarified on Wednesday that it has yet to release official prices. NNPCL spokesperson Olufemi Soneye confirmed the refinery is still in its pricing review phase, with petrol products only supplied to NNPCL stations for now.

In the past five days, marketers imported over 105 million litres of petrol to meet local demand, highlighting the pressure to ensure competitive pricing.

The Port Harcourt Refinery resumed operations on Tuesday after years of inactivity. NNPCL reported the facility now operates at 70% of its capacity, producing a daily output of diesel, naphtha, kerosene, and petrol. Around 200 trucks of petrol are expected to be released to the market daily.

Marketers warn they may turn to imports if prices from local refineries remain uncompetitive. Independent Petroleum Marketers Association of Nigeria (IPMAN) spokesperson, Chinedu Ukadike, stated that while they await NNPCL’s pricing announcement, only cheaper rates would guarantee patronage.

With global oil prices dropping, NNPCL is expected to review its rates soon. Marketers stress that affordability will determine their choice between Dangote, NNPCL, or imported fuel to sustain profitability.