The Independent Petroleum Marketers Association of Nigeria (IPMAN) has said that private depot owners have hiked the cost of petrol to N770 per litre.
IPMAN’s national president, Abubakar Maigandi, disclosed this, stating that depot owners are complaining that the cost of freighting cargo at sea has risen, affecting prices.
Maigandi said the development has impacted petrol prices nationwide despite its availability.
The IPMAN president said the cost component has led to an upward adjustment in petrol prices, which has affected pump prices.
According to him, the cost of freighting the product in Lagos is about N30 or N35 per litre, stressing that the aggregate cost of petrol in Lagos is around N800 per litre.
The Nation reports that Maigandi said those lifting petrol from Kebbi State pay as much as N70 per litre in freight costs, leading to petrol selling for as much as N900 and N1,000 per litre in Kebbi.
He said:
He said petrol could only sell for less when Dangote and other refineries across Nigeria began to produce it.
The development comes as the Committee on Petroleum (Downstream) said the Port Harcourt and Warri refineries will become functional before 2024, TimesNow.com.ng reported.
The chairman of the committee, Ifeanyi Ubah, said that two Nigeria refineries would become fully operational this year.
Ubah said the Port Harcourt and Warri refineries are currently undergoing turnaround maintenance and will function on the set dates.
This comes as marketers said it will take about two weeks for normalcy to return to the pumps.
The senator said plans have already begun to achieve the set target, adding that the Kaduna Refinery would also become functional before the end of 2025.
He said completing the two facilities and supply from the Dangote Refinery would allow Nigeria to meet its fuel consumption needs.
Meanwhile, the 650,000 barrels per day Dangote refinery has shifted the date for petrol production from May as earlier announced.
According to reports, the delay was caused by the installation of a residue fluid catalytic cracking unit to boost the facility’s sustainable refining of petrol.
The Dangote refinery has already started distributing diesel and aviation fuel to marketers, leading to a crash in the price of the products.
According to the reports, the facility is scheduled to begin supplying petrol to the domestic market in May to reduce Nigeria’s dependence on imported petroleum products.
TimesNow.com.ng reported earlier that filling stations across Nigeria have adjusted their pump prices following the scarcity of petrol, which has entered the second week.
