Oil marketers have announced plans to import petrol to supplement the insufficient domestic supply currently produced by the Dangote Petroleum Refinery. Reports indicate that the refinery, which was expected to produce 25 million litres of petrol daily, is only delivering approximately 10 million litres, far below Nigeria’s daily demand of around 40 million litres.
This situation has prompted the marketers to align with the Trade Union Congress (TUC) in urging the refinery to increase its production. TUC President Festus Osifo stated that if the refinery cannot meet local needs, alternative sources for refined petrol should be explored immediately.
Despite the refinery’s September 15 launch of petrol distribution to local marketers, discrepancies have emerged regarding its output. While the Nigerian Midstream and Downstream Petroleum Regulatory Authority had projected daily supplies of 25 million litres, marketers reported that current production is only a fraction of that.
Amid this shortfall, the Independent Petroleum Marketers Association of Nigeria (IPMAN) is preparing for importation, having secured tank farms in Calabar and Lagos to facilitate the process. National Vice President Hammed Fashola emphasized that importing petrol is a necessary step given the current production challenges and the importance of having multiple sources of supply.
Fashola highlighted that the government’s push to limit imports must be reconsidered in light of the ongoing issues, warning that a lack of competition could lead to market monopolies detrimental to consumers. Meanwhile, about 335 trucks from independent marketers have started loading petrol from the Nigerian National Petroleum Company Limited (NNPCL), which is selling petrol at approximately N995 per litre, despite earlier higher prices reported in different regions.
As discussions between IPMAN and Dangote refinery officials continue, the focus remains on finding solutions to ensure a steady petrol supply across Nigeria, emphasizing the necessity for competitive pricing and availability for consumers.
News Editor