Marketers Urge Tinubu to Extend Petrol Price Cut to Private Stations

Nigeria’s major petroleum marketers’ groups have called on President Bola Ahmed Tinubu to broaden a proposed 30-day petrol price reduction beyond Nigerian National Petroleum Company Limited, or NNPCL, outlets, arguing that independent and private retail stations should also be included.

1. On Thursday, Finance Minister Taiwo Oyedele outlined a proposed month-long reduction in petrol prices at NNPCL filling stations, setting the gantry price at N1,350 per litre.
2. Oyedele said the measure should not be interpreted as a restoration of Nigeria’s fuel subsidy regime.
3. Opposition politicians, including African Democratic Congress presidential candidate Atiku Abubakar, criticised the proposal as a public-relations exercise that would fail to ease the economic pressure faced by Nigerians.
4. On Friday, the national presidents of the Petroleum Products Retail Outlets Owners Association of Nigeria, PETROAN, and the Independent Petroleum Marketers Association of Nigeria, IPMAN, said the discount was a positive step but should cover stations operated by their members nationwide.

Marketers seek nationwide coverage

PETROAN President Billy Gillis-Harry said the association had consistently supported government action to lessen the effect of rising petrol costs on households and businesses. While describing the proposed 30-day price cut as useful, he said its temporary nature and limited application would restrict its benefit.

“PETROAN has consistently pushed for answers to higher fuel prices. This is one answer, even if it is only temporary,” Gillis-Harry said. “We recommend making the discounted product available to our members as well, so the programme can reach more people.”

IPMAN National President Abubakar Maigandi similarly welcomed any policy designed to lower fuel prices. He said the Tinubu administration should apply the reduction across all marketers rather than confining it to NNPCL-operated stations.

“Any move to cut prices is positive, and what the government has done is welcome,” Maigandi said. “But our position is that the discount should be available to every marketer, not just NNPCL filling stations.”

Petrol is currently sold at retail stations for about N1,370 to N1,400 per litre, while Dangote Refinery’s gantry price is N1,350 per litre. Extending the proposed discount to other marketers could therefore determine whether the measure has a wider effect on pump prices across the country.