Oil marketers have warned that the pump price of petrol could soar to as high as ₦1,500 per litre should the Federal Government implement a full ban on fuel importation. This was revealed by the National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Chinedu Udadike.
Echoing similar sentiments, the Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN) noted that while it could not confirm a specific price, a significant increase was likely if fuel imports ceased entirely.
However, the Dangote Petroleum Refinery has dismissed the marketers’ projections, stating that such claims were merely attempts to justify the continued importation of substandard fuel into the country.
