Latest update on fuel price hike, fuel scarcity for November 2nd, 2024

As Nigerians express their frustrations over the recent fuel price hikes by the Nigerian National Petroleum Company (NNPC) Limited, IDOMA VOICE presents the latest updates on petrol scarcity, rising fuel costs, and the reactions from both the government and citizens.

Dangote Responds to IPMAN’s Claims on Petrol Loading Issues

Dangote Refinery has refuted the Independent Petroleum Marketers Association of Nigeria (IPMAN)’s assertions that its members are facing challenges in loading refined products from its facility, labeling the claims as misleading. In a statement released on Thursday, the refinery clarified that it has no direct dealings with IPMAN and has not accepted any payments from the association for petroleum purchases.

Previously, IPMAN President Abubakar Garima had claimed during a TV interview that despite paying ₦40 billion to NNPC Limited, association members were struggling to load petrol from the Dangote Refinery in Lagos. However, Anthony Chiejina, Dangote’s Group Chief Branding and Communication Officer, emphasized that petroleum marketers have yet to register for direct transactions with the refinery. He highlighted that the facility can load 2,900 trucks daily and is equipped to evacuate petroleum products by sea, urging IPMAN to adhere to proper processes, noting that there is an abundance of fuel.

Governors Decry Nigeria’s Reliance on Fuel Imports

The governors of Nigeria’s 36 states have condemned the country’s ongoing reliance on imported petroleum products to satisfy domestic fuel demands. Imo State Governor Hope Uzodinma spoke on behalf of his colleagues following a meeting that included the Group Chief Executive Officer of NNPC Limited, Mele Kyari. Uzodinma described it as an aberration for Nigeria, an oil-producing nation, to continue importing fuel.

The governors called for the repair of local refineries to ensure petroleum products are more accessible and affordable for Nigerians, aiming to alleviate the current suffering. They also expressed support for Dangote Refinery, advocating for initiatives to enhance local production. Uzodinma stated, “We must encourage the homegrown solution the President just introduced, supporting Dangote Refinery and repairing our Port Harcourt, Warri, and Kaduna Refineries so we can produce what we eat and eat what we produce.”

Tensions Rise Between Marketers and Dangote Over Fuel Pricing

The dispute between Dangote Refinery and Nigerian petroleum marketers has escalated, particularly after Alhaji Aliko Dangote, President of the Dangote Group, claimed that marketers have not approached his refinery for fuel purchases. Tensions first emerged in September during the distribution of Premium Motor Spirit (PMS), leading to confusion among stakeholders.

Despite expectations of lower fuel prices due to the private refinery’s operations, consumers have been disappointed as prices have instead risen. Many citizens have expressed their frustration over the ongoing conflicts among key industry players, emphasizing their demand for affordable and readily available fuel rather than public disputes.

Dangote indicated that lower prices may be unattainable due to what he described as “apathy” from marketers. Following a recent meeting with President Bola Tinubu regarding the naira-for-crude policy, Dangote asserted that his refinery is capable of supplying over 30 million liters of fuel daily and has sufficient reserves to meet the nation’s needs.