The Independent Petroleum Marketers Association of Nigeria (IPMAN) has confirmed that its members are shifting away from the Nigerian National Petroleum Company Limited (NNPCL) franchise in search of better pricing options.
This comes amid an ongoing price war between the state-owned oil company and Dangote Refinery. IPMAN spokesperson Chinedu Ukadike disclosed this on Tuesday.
A DAILY POST investigation revealed that filling stations in Lagos, particularly around Wawa on the Lagos-Ibadan Expressway and Ibafo, have removed the NNPCL branding. The shift follows Dangote Refinery’s recent decision to slash its ex-depot premium motor spirit (PMS) price from N950 to N850 per litre, intensifying competition in the downstream sector.
As a result, many petroleum marketers are reportedly surrendering their NNPCL licences, opting instead for more profitable partnerships. Ukadike explained that since NNPCL is no longer the sole fuel importer, marketers are rebranding to align with ventures that offer higher returns on investment.
“Some marketers are changing and rebranding. Remember that there was a time NNPCL was the sole distributor and importer of petrol.
“So, marketers then gave their filling stations as franchises so that they could get products.
“So marketers normally give their companies to NNPCL to have petroleum products. But now that the game has changed, you can even see some marketers now changing to MRS filling stations, because MRS is now selling cheaper than any other station,” he stated.
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