The Independent Petroleum Marketers Association of Nigeria (IPMAN) has accused the Nigerian National Petroleum Company Limited (NNPCL) of fostering a monopoly in the country’s oil and gas industry.
IPMAN spokesperson Chinedu Ukadike linked the allegation to the prolonged and uncertain rehabilitation of the Port Harcourt, Warri, and Kaduna refineries. He claimed that the failure of the NNPCL-controlled refineries to resume operations has created a market environment favoring the dominance of private entities, particularly the Dangote Refinery.
Ukadike argued that functional state-owned refineries would provide competition and help stabilize petroleum product prices. He called on President Bola Tinubu to declare a state of emergency on the nation’s refineries to expedite their rehabilitation.
“The NNPCL refineries are not working. We want the president to declare an emergency in these refineries. It is NNPCL that is encouraging monopoly, not the Dangote Refinery. If NNPCL refineries are producing, they would checkmate Dangote and lead to more competitive pricing for Nigerians,” Ukadike said.
His comments followed NNPCL’s recent announcement of a shutdown at the Port Harcourt Refining Company (PHRC) for maintenance, with no clear timeline for the resumption of operations.
