Oil Marketers Warn Against Dangote Refinery Monopoly as Fuel Prices Surge in Nigeria
As Nigerians struggle with soaring petrol prices, oil marketers are pushing back against a potential monopoly by the Dangote Petroleum Refinery. In a court case filed under number FHC/CS/ABJ/1324/2024, marketers including AYM Shafa, A.A. Rano, and Matrix Petroleum argue that allowing Dangote exclusive market control could lead to inflated fuel costs and heightened energy vulnerability.
The marketers contend that Dangote’s refinery does not currently produce enough to meet national demand, challenging its claim for a monopoly in fuel imports. They argue that fair competition is essential to stabilize prices and prevent over-dependence on a single source.
Meanwhile, oil marketers, led by PETROAN President Gilli Billis-Harry, have expressed willingness to partner with Dangote Refinery for sourcing Premium Motor Spirit (PMS), provided favorable terms are met. Talks this week aim to establish a balanced arrangement on pricing, logistics, and distribution practices, with both parties hoping to create a framework that supports Nigeria’s economic stability amid the ongoing fuel crisis.
