The Independent Petroleum Marketers Association of Nigeria, IPMAN, has said its members may lose between N20 and N25 per litre, amounting to billions of naira, amid Dangote Refinery’s latest premium motor spirit price cut announcement.
The spokesperson of IPMAN, Chinedu Ukadike, disclosed this in an exclusive interview with Media Talk Africa.
He was reacting to Dangote Refinery’s fresh N15 drop in the retail price of petrol.
He said marketers face a lose-win situation following the price war between Dangote Refinery and other players in Nigeria’s downstream oil and gas sector.
“For us, the independent marketers, it is a lose-win situation.
“The loss is that those who have already gotten petrol products from Dangote Refinery or its partners will have to lose a N20 to N25 margin per litre and revert to the new price,” he told Media Talk Africa.
Media Talk Africa earlier reported that Ukadike said Dangote Refinery’s ultimate reason for reducing its petrol price is to gain control of the buying and distribution of petroleum products in Nigeria.
