The ongoing price competition between the Nigerian National Petroleum Company Limited and Dangote Petroleum is creating challenges for members of the Independent Petroleum Marketers Association of Nigeria.
While consumers benefit from lower fuel prices, IPMAN members said there struggle with frequent and unpredictable price changes, making business operations difficult.
Speaking in Awka on Friday, the IPMAN Chairman for Anambra, Ebonyi, and Enugu states, Chinedu Anyaso, said the unstable fuel prices are causing uncertainty in the sector and eroding investor confidence.
Anyaso noted that while the competition has lowered prices for consumers, the frequent price fluctuations are driven by the rivalry between NNPC and Dangote, rather than global market forces.
He said, “Marketers are on the receiving end of this price war between Dangote and NNPCL.
“Our members are losing money because of the unstable environment.
“For example, a marketer may buy petrol from one of them, and before leaving the depot, the price drops by N10 or N20 per litre.
“The recent drop happened because marketers discussed prices with one company, and without any major market changes, the other company suddenly reduced its prices by a large margin. This has put many of our members in a difficult situation.
“We can no longer plan properly. Paying loans and salaries is becoming harder because profits are no longer certain due to frequent price changes.”
Anyaso urged NNPCL and Dangote to collaborate to ensure Nigerians fully benefit from deregulation and fair pricing.
He also emphasized the need to protect marketers and their jobs.
“For people to truly enjoy the benefits of deregulation and fair pricing, both companies must work from the same approach. NNPCL needs to start full production.
“That is the only way they can compete and create a stable market. Relying on both local production and imports will not bring stability.We must protect marketers and save jobs,” he said.
