As Middle East Crisis Deepens, Industry Insider Makes Shocking Fuel Price Claim

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The Independent Petroleum Marketers Association of Nigeria, IPMAN, has stated that the price of petrol in Nigeria could have risen to between N5,000 and N6,000 per litre if not for the operations of the Dangote Refinery amid the ongoing conflict in the Middle East.

The National Publicity Secretary of IPMAN, Chinedu Ukadike, made the assertion during an interview with ZINGTIE on Monday.

He was reacting to the recent reduction in fuel prices across the country following a fresh cut in the petrol gantry price by Dangote Refinery.

According to Ukadike, the refinery, which now processes about 700,000 barrels per day, has continued to serve as a critical buffer for Nigeria’s domestic fuel supply.

He explained that the country would have suffered a far more severe impact from the prolonged conflict involving Iran, the United States, and Israel if it had remained heavily dependent on imported petroleum products.

“Nigeria is benefiting from this crisis through higher crude oil revenue.I also want to thank Dangote Refinery for continuing to provide this petroleum product to Nigeria’s domestic market.

“Nigeria is no longer dependent on petrol product imports.I want to tell you today that the petroleum product would have been around N6,000 Nairaor N5,000 per litre without Dangote Refinery”, he told ZINGTIE.

ZINGTIE reports that the retail pump price of petrol has recently recorded a slight decline in Abuja, with prices dropping to between N1,317 and N1,360 per litre from the previous range of N1,360 to N1,370 per litre.

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