Oil marketers in Nigeria, under the Independent Petroleum Marketers Association of Nigeria (IPMAN), are threatening to halt operations nationwide due to rising fuel costs, which they attribute to the Nigerian National Petroleum Corporation (NNPC). Marketers have expressed frustration over the high prices they are required to pay for fuel, which they claim makes their operations unsustainable.
Currently, the NNPC is selling petrol to independent marketers at a price of about ₦1,010 per liter, while major marketers are buying it at a lower rate, around ₦765 per liter. This price disparity, alongside outstanding debts owed to the marketers by the NNPC, has prompted them to consider suspending operations if the situation isn’t resolved soon. The marketers argue that the high cost of transporting and selling fuel, combined with the limited availability of products at depots, is creating significant financial losses for them.
If these issues persist, Nigeria could face a serious fuel scarcity, as independent marketers control the majority of the country’s fuel distribution.
