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IPMAN calls for urgent review of fuel import licences to prevent further pump-price inflation and naira pressureImported petrol costs significantly more than local alternatives, threatening the stability of Nigeria’s downstream marketLocal refining capacity is essential for energy security and price stability, reducing reliance on costly imported fuels
Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.
The Independent Petroleum Marketers Association of Nigeria has called on the Federal Government and the Nigerian Midstream and Downstream Petroleum Regulatory Authority to urgently reassess recently issued fuel import licences, warning that the policy could worsen pump-price inflation and place additional pressure on the naira.
IPMAN raises alarm over imported fuel prices
IPMAN’s National Publicity Secretary, Chinedu Ukadike, expressed concern over the current state of Nigeria’s downstream petroleum sector, saying some importers are now selling petrol at about ₦1,350 per litre.
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