The Independent Petroleum Marketers Association of Nigeria (IPMAN) has called on the Federal Government to introduce measures that would enable the Dangote Petroleum Refinery to reduce the price of petrol in Nigeria.
The association made the appeal amid recent increases in the pump price of Premium Motor Spirit, commonly known as petrol, which have placed additional pressure on motorists and businesses.
IPMAN said government intervention could help lower the cost of petrol production and ultimately translate into reduced prices for consumers.
The association also identified improved access to crude oil as an important step towards reducing the refinery’s operating costs. It urged the government to ensure that domestic refineries have adequate access to locally produced crude at competitive prices.
According to IPMAN, strengthening domestic refining capacity remains critical to achieving a more stable and affordable petroleum market in Nigeria.
The association noted that the Dangote Refinery has the capacity to play a significant role in reducing the country’s dependence on imported refined petroleum products if the necessary support and operating conditions are provided.
IPMAN further called for policies that would encourage competition and stability within the downstream petroleum sector, saying this would ultimately benefit Nigerian consumers.
The appeal comes as petrol prices continue to fluctuate across different parts of the country, with marketers attributing changes to refinery and depot prices, logistics costs and other market factors.
