Marketers Oppose Dangote's Dollar Fuel Pricing Decision

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has expressed strong opposition to Dangote Petroleum Refinery's decision to price petroleum products in dollars. IPMAN warns that this move could lead to increased fuel prices and further strain Nigeria's foreign exchange market.

The association's president, Billi Gilli Harri, emphasized that while Dangote Refinery is a significant contributor to Nigeria's energy security, the decision could have broader economic implications, potentially turning Nigeria into a dollarized economy. IPMAN's spokesman, Chinedu Ukadik, called for President Bola Tinubu to intervene to sustain crude naira arrangements and prevent further volatility in fuel prices.

The decision has already prompted several depots to adjust their pricing for petrol and diesel, raising concerns among energy experts about the impact on the downstream sector and the cost of living across the country.