Nigeria's IPMAN Opposes New Fuel Import Licences as Prices Surge

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has publicly opposed recent licences granted for importing petroleum products, saying they exacerbate fuel price volatility and put pressure on the naira. IPMAN National Publicity Secretary Chinedu Ukadike noted that imported petrol at roughly N1,350 per litre is about 20 % higher than the price offered by the Dangote Refinery, making the licences counter‑productive. He urged the federal government and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to review the licences transparently.

Data from NMDPRA show that petrol imports rose sharply to 18.1 million litres per day in June, up from 5.9 million litres in May, while domestic supply from the Dangote refinery fell. Marketers have suspended loading from Dangote after the refinery switched to dollar‑denominated pricing, leading to higher depot prices of N1,200‑N1,250 per litre and temporary fuel shortages at some stations. IPMAN called for stronger support for local refining and clearer pricing guidance.