PETROAN, IPMAN tell Tinubu to extend N1,350/litre fuel price to other filling stations

Petroan and IPMAN, the two main associations representing fuel retailers in Nigeria, have called on President Bola Tinubu to extend the planned fuel price discount at Nigerian National Petroleum Company Limited (NNPCL) filling stations to all other filling stations across the country. The Presidents of both associations, Billy Gillis-Harry of PETROAN and Abubakar Maigandi of IPMAN, made their case in separate interviews with DAILY POST on Friday.

During a press conference on Thursday, Finance Minister Taiwo Oyedele announced a 30-day fuel price discount, with the fixed gantry price set at N1,350 per litre at NNPCL filling stations. Oyedele made it clear that this measure was not a return to the old fuel subsidy system. However, critics, including presidential candidate of the African Democratic Congress (ADC), Atiku Abubakar, dismissed the initiative as a publicity stunt that would not alleviate the economic struggles faced by Nigerians.

In response, Gillis-Harry and Maigandi, speaking on behalf of the stakeholders in the petroleum downstream sector, acknowledged the 30-day fuel price discount as a positive step. Gillis-Harry emphasized that PETROAN has long advocated for government intervention to alleviate the impact of fuel price increases on ordinary Nigerians, urging the government to extend the discount to all petroleum product retailers nationwide.

Maigandi echoed the sentiment, stating that any effort to reduce fuel prices is welcome and that the government should broaden the discount to include IPMAN members to maximize the initiative's impact on Nigerians. Both Gillis-Harry and Maigandi criticized the limited scope of the discount, arguing that it would only benefit NNPCL filling stations and leave other retailers and consumers in the lurch.

Petrol currently sells at prices ranging from N1,370 to N1,400 per litre at retail outlets, while Dangote Refinery's gantry price is fixed at N1,350 per litre.