The Independent Petroleum Marketers Association of Nigeria (IPMAN) has appealed to the Federal Government to intervene in the pricing operations of the Dangote Petroleum Refinery and other domestic refiners in a bid to reduce the rising cost of petrol across the country.
IPMAN National President, Abubakar Maigandi, made the call following a fresh increase in petrol pump prices, which have reportedly risen to between ₦1,310 and ₦1,345 per litre in Abuja and neighbouring areas.
The latest price hike followed upward adjustments in gantry and ex-depot petrol prices by the Dangote Refinery and private depot operators.
Reacting to the development, Maigandi urged the Federal Government to engage domestic refiners and broker an agreement aimed at reducing petrol prices.
He stressed that targeted government intervention in the downstream petroleum sector should not be confused with a return to the former fuel subsidy regime.
“We are appealing to the Federal Government to broker a deal with Dangote Refinery to reduce fuel prices,” Maigandi said.
“The government should intervene with Nigerian refiners, and this will lead to a reduction in fuel prices. It is different from fuel subsidy. In a situation where there is difficulty, the government should step in.”
IPMAN maintained that strategic engagement between the government and domestic refiners is necessary to stabilise petrol prices, cushion the impact of fluctuations in global crude oil prices and reduce energy costs for consumers and businesses across the country.
