Petroleum marketers have suspended large-scale fuel purchases from the Dangote Petroleum Refinery following its decision to price products in US dollars, raising fresh concerns over fuel supply and possible pump price increases.
The Independent Petroleum Marketers Association of Nigeria (IPMAN) said marketers were adopting a cautious approach because of uncertainty surrounding the refinery's new pricing template and the expected cost of imported petroleum products.
The association noted that while fuel distribution has not stopped completely, the volume being loaded has dropped significantly as marketers await clearer market direction.
Some marketers also claimed that fuel loading at the Lekki refinery had slowed, with several trucks left waiting.
However, a spokesperson for the Dangote Group dismissed the reports, insisting that loading operations at the refinery were continuing as normal and describing claims of a shutdown as false.
Meanwhile, a senior government official disclosed that the Federal Government is holding talks with the refinery to resolve disagreements over crude oil supply and the continued issuance of petrol import licences.
According to the official, Dangote is seeking increased crude allocations in naira and has expressed dissatisfaction with the volume of crude supplied to the refinery.
The Federal Competition and Consumer Protection Commission (FCCPC) also maintained that the naira remains the only legal currency for domestic commercial transactions.
The commission added that it expects lower international crude oil prices to eventually translate into reduced petrol prices and warned that it would take action against any anti-competitive practices or consumer exploitation in the downstream sector.
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