The Independent Petroleum Marketers Association of Nigeria (IPMAN) says petrol purchased from the Dangote refinery should be cheaper than the imported product.
John Kekeocha, IPMAN’s national welfare officer, spoke on ‘The Morning Brief’ programme of Channels Television on Monday.
Earlier today, the Nigerian National Petroleum Company (NNPC) Limited released the estimated pump price of petrol based on prices set by the Dangote refinery.
Kekeocha, speaking on the show, argued that the price shared by the NNPC is “speculative” and is subject to change.
“The products we are about to get from Dangote refinery cannot be costlier than the one imported because we have an advantage of supply logistics,” he said.
“If the one we are going to import from abroad is going to be cheaper, then there is no need celebrating Dangote refinery production. Absolutely, it is going to be cheaper than the imported one.”
Kekeocha said the government has been intervening in the form of underrecovery, also known as subsidy.
He said if the Dangote refinery’s petrol price is N950 per litre without government intervention, “it means underrecovery gradually comes to an end and maybe, Nigerians would get it cheaper”.
However, he said the price shared by the NNPC could be discounted if petrol subsidy continues.
On September 15, the NNPC commenced petrol lifting at the refinery’s gantry after an extended period of price negotiations.
The development followed the deployment of a fleet of NNPC’s trucks to the refinery on September 14.
At the close of loading on Sunday, the NNPC had said it bought petrol from Dangote refinery at N898 per litre.
However, the Dangote refinery countered the claim, describing it as “both misleading and mischievous”.