Breaking: Fuel Scarcity Worsens As Petrol Prices Hit All-Time High For November 2nd, 2024

Breaking: Fuel Scarcity Worsens As Petrol Prices Hit All-Time High For November 2nd, 2024

As Nigerians voice their frustrations over the recent hike in fuel prices implemented by the Nigerian National Petroleum Company (NNPC) Limited, Ireporter reports  provides the latest information on petrol shortages, price increases, and the reactions from both the government and the public.…..CONTINUE READING 

Dangote Refinery has dismissed assertions made by the Independent Petroleum Marketers Association of Nigeria (IPMAN) regarding issues with loading refined products.

In a statement released on Thursday, the refinery clarified that it has no direct dealings with IPMAN and has not received any payments from them for petroleum transactions.

Naija News recalls that IPMAN President, Abubakar Garima, claimed in a recent television interview that his members faced challenges loading petrol from the Dangote Refinery in Lagos, despite having paid ₦40 billion to NNPC.

However, in a rebuttal from Anthony Chiejina, Dangote’s Group Chief Branding and Communication Officer, he explained that petroleum marketers have yet to register or establish direct dealings with the refinery. Chiejina emphasized that the refinery has the capacity to load 2,900 trucks daily and can also transport petroleum products by sea, urging IPMAN to follow the necessary procedures as there is an ample fuel supply.

The governors of the 36 states have condemned Nigeria’s reliance on imported petroleum to satisfy local fuel demands.

Speaking on behalf of his colleagues after a meeting with Mele Kyari, the Group CEO of NNPC, Imo State Governor Hope Uzodinma stated that it is unacceptable for Nigeria, as an oil-producing nation, to continue importing fuel.

The governors called for the repair of the nation’s refineries to ensure that petroleum products are more accessible and affordable, alleviating the hardships faced by citizens.

Uzodinma asserted, “We must support homegrown solutions, such as the initiatives President Tinubu has introduced, which encourage the Dangote Refinery. We need to repair the Port Harcourt, Warri, and Kaduna refineries to ensure we produce what we consume.”

Tensions are escalating between Dangote Refinery and Nigerian petroleum marketers after statements from Alhaji Aliko Dangote, President of the Dangote Group, who claimed marketers have not approached his refinery for fuel purchases.

Confusion has gripped the sector since September, following the distribution of premium motor spirit (PMS), commonly referred to as petrol, from Dangote Refinery. Many Nigerians had hoped that the establishment of the private refinery would lead to lower fuel prices, but instead, they have seen an increase, leading to public disappointment.

Consumers have voiced their frustrations over the ongoing disputes among key players in the industry, emphasizing the need for affordable and accessible fuel rather than continued bickering.

Dangote indicated that the rising fuel prices may be attributed to what he termed “apathy” among marketers. Following a recent meeting with President Bola Tinubu regarding the naira-for-crude policy, Dangote stated that his refinery is capable of supplying over 30 million liters of fuel daily, with enough reserves to meet the nation’s needs.