The Nigerian National Petroleum Company Limited (NNPCL) and Dangote Petroleum Refinery have been at loggerheads over the pricing of Premium Motor Spirit (PMS), also known as petrol. The dispute has led to a stalemate, with Dangote refusing to supply petrol to independent marketers at the government-approved price.
NNPCL had directed Dangote to sell petrol to independent marketers at N445 per liter, but Dangote has insisted on selling at N605 per liter, citing the high cost of production.
“We cannot sell at a loss,” said a source close to Dangote. “The cost of production is too high, and we need to recoup our investment.”
The impasse has left many trucks stranded at depots, unable to lift petrol due to the pricing dispute. This has further exacerbated the petrol scarcity in the country, with many filling stations shutting down due to lack of product.
The situation has been described as “critical” by industry experts, who warn that the scarcity could worsen if the dispute is not resolved quickly.
“The government needs to intervene urgently to resolve this dispute,” said Chinedu Okoronkwo, an energy expert. “The scarcity is already biting hard, and if it worsens, it could have serious consequences for the economy.”
The Nigerian government has yet to comment on the dispute, but sources say that officials are working behind the scenes to resolve the issue.
In the meantime, Nigerians continue to suffer the consequences of the scarcity, with many forced to queue for hours to buy petrol at exorbitant prices.
