Dangote and NNPC Clash: Oil Marketers Warn of Potential Boycott Over Petrol Prices
Oil marketers have outlined their conditions for engaging with the newly overhauled Port Harcourt Refinery in Rivers State, which is now under the management of the Nigerian National Petroleum Company Limited (NNPCL). They have insisted that the refinery must offer competitive pricing, specifically lower than that of the Dangote Refinery, to attract their patronage.
In response to reports indicating that NNPCL’s petrol price might be as high as ₦1,045 per litre, the company clarified that no official pricing has been announced yet. NNPCL spokesperson Olufemi Soneye explained that they are still in the process of reviewing prices, and bulk sales have not yet started since the purchase portal remains closed. At present, the refinery’s products are only being distributed through NNPCL’s own stations.
From November 23 to 28, oil marketers brought in 105.67 million litres of petrol into Nigeria. With the possibility of NNPCL setting prices at ₦1,045 per litre, marketers are concerned they might have to rely on imported fuel to meet the local demand.
According to records from the Nigerian Ports Authority, four vessels carrying petrol arrived in the country during this period, docking at Lagos’ Apapa Port and the Ebughu jetty in Cross River State.
The Port Harcourt Refinery, which resumed operations after years of inactivity, is currently running at 70% of its full capacity. Its daily output includes 1.5 million litres of diesel, 2.1 million litres of low-pour fuel oil, 1.4 million litres of naphtha (for blending with petrol), and 900,000 litres of kerosene. Around 200 truckloads of petrol are expected to be distributed daily.
Despite the refinery’s restart, marketers have raised concerns about its pricing. The Dangote Refinery is selling petrol at ₦970 per litre for bulk purchases, which makes pricing a critical factor in marketers’ decisions. Chinedu Ukadike, National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria (IPMAN), warned that high pricing from the Port Harcourt Refinery could discourage marketers but expressed hope that a price review in line with global market trends could lead to more favorable conditions.
