AWKA, Nigeria – The Independent Petroleum Marketers Association of Nigeria, IPMAN, has raised concerns over the ongoing price war between the Nigerian National Petroleum Company Limited (NNPCL) and Dangote Petroleum, stating that it is negatively impacting its members.
Chinedu Anyaso, the chairman of IPMAN’s Enugu Depot Community, which oversees Anambra, Ebonyi, and Enugu states, made the remarks during an interview with journalists in Awka on Friday, March 14, 2025.
Anyaso said the price instability in the petroleum sector has created uncertainty and reduced investor confidence. He noted that Premium Motor Spirit (PMS), commonly known as petrol, currently sells between N865 and N950 per litre in Awka.
While acknowledging that the competition has led to price reductions beneficial to the public, Anyaso explained that the fluctuations are driven by the rivalry between NNPCL and Dangote Petroleum rather than changes in the international market.
“Our members are incurring losses because of the unstable environment,” Anyaso said.
“For instance, a marketer will buy products from any of them, and before leaving the depot, you hear that the price of petrol has dropped by about N10 or N20 per litre.”
He attributed the recent price drop to discussions between marketers and one of the companies, prompting the other to slash prices significantly.
“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 explained.
Anyaso highlighted the challenges faced by marketers, including difficulties in projecting profits, repaying loans, and paying salaries.
“We can no longer project with certainty; paying of loans and salaries are becoming difficult because profitability is no longer guaranteed due to the regular variation in prices,” he said.
To restore stability, Anyaso called on NNPCL to commence full-scale production.
“For the masses to enjoy the full benefit of deregulation and fair pricing, the two giants have to operate from the same standpoint; NNPCL has to go into full-scale production,” he said.
He also urged the Federal Government to address the outstanding bridge claims owed to marketers, noting that many businesses have collapsed while others struggle to survive due to non-payment.
“That is the only way they can compete and also ensure a stable market. A combination of local product and importation cannot guarantee us that; we need to protect marketers and save jobs,” Anyaso added.
The ongoing price war between NNPCL and Dangote Petroleum has created a volatile market, leaving marketers and consumers grappling with uncertainty.
As stakeholders call for intervention, the Federal Government faces mounting pressure to stabilise the sector and protect the livelihoods of those dependent on it.
