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The federal government opened discussions with Dangote Petroleum Refinery after petroleum marketers flagged serious concernsIPMAN officials confirmed that filling stations across the country had suspended fresh fuel purchasesThe FCCPC raised alarm that falling global crude oil prices had yet to reflect in what Nigerian consumers pay at the pump
Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
The federal government has opened fresh discussions with the Dangote Petroleum Refinery in response to growing alarm among petroleum marketers over unstable petrol pricing and disruptions to fuel loading operations at the Lekki-based facility.
Marketers have largely pulled back from making large-scale purchases of Premium Motor Spirit (PMS) while they wait for clarity on the refinery’s dollar-denominated pricing structure and the landed cost of newly imported fuel.
Petrol dealers adopt cautious buying strategy Photo: NurphotoSource: Getty Images
The caution stems
