The Independent Petroleum Marketers Association of Nigeria, IPMAN has confirmed that their members have started dumping the Nigerian National Petroleum Company Limited franchise for cheaper deals. This is coming amidst the NNPCL oil firm and Dangote Refinery’s have sparked a price war.
The spokesperson of IPMAN, Chinedu Ukadike, made this known on today.
It was learned that some filling stations in Lagos, specifically located around Wawa along the Lagos-Ibadan Expressway, as well as at Ibafo, still along the busy road, have dropped the name of NNPCL.
Recalled that Dangote Refinery, in a quest to step-up its game recently reduced its ex-depot premium motor spirit price to N850 from N950 per litre, the announcement that sparked a fresh price war in the downstream sector.
Consequently this is driving the petroleum marketers into relinquishing their licence with NNPCL due to a reduction in the price of PMS from Dangote Refinery as every marketer is after profit margin.
Analysing the development, Ukadike explained that marketers are now dropping their companies’ name from NNPCL for better deal with other companies because the state-owned oil firm is no longer the sole importer of fuel.
He said, “Some marketers are changing and rebranding. Remember that there was a time NNPCL was the sole distributor and importer of petrol.
“So, marketers then gave their filling stations as franchises so that they could get products.
“So marketers normally give their companies to NNPCL to have petroleum products. But now that the game has changed, you can even see some marketers now changing to MRS filling stations, because MRS is now selling cheaper than any other station,” he stated.
Meanwhile, the kick-off of Dangote Refinery and the recommencement of operations at Port Harcourt and Warri refineries have impacted Nigeria’s oil sector as Nigerians are optimistic that it will work out in the interest of the common man.
