Lagos, March 16, 2025 – The Independent Petroleum Marketers Association of Nigeria (IPMAN) has denied a report that it opposed the recent drop in the price of petrol from the Dangote Refinery and the Nigerian National Petroleum Corporation Limited.
The association made the denial on Sunday in a statement issued by its National Vice President, Hammed Fashola.
It said it had never opposed the recent fuel price reduction resulting from full deregulation of the downstream sector, stressing that the association had long canvassed for full deregulation of the Nigerian oil and gas sector.
“Let me first educate the public about these two organizations, IPMAN and PETROAN. IPMAN is an association of independent petroleum marketers in Nigeria. We have been in existence for years and have maintained a long-standing relationship with the government, NNPCL, and Dangote.
“The said publication is not from IPMAN, and it cannot be from IPMAN because we have always advocated for total deregulation of the downstream sector. We understand the concept of deregulation, along with its benefits and consequences.
“We (IPMAN) are never against the reduction of petroleum product prices in the country, as it brings relief to citizens. Moreover, as marketers, lower prices mean reduced working capital for us as well,” the statement said.
It will be recalled that Reno Omokri, a public commentator, had recently alleged that some Nigerians were not happy about the recent drop in the price of petrol across the country.
In a post on his X handle, he wrote: “For the first time in Nigeria’s history, IPMAN, the Independent Petroleum Marketers of Nigeria, are protesting against the Nigerian government because NNPCL and Dangote Refinery’s fuel is so cheap that their imported fuel is causing them to lose money.
“Instead of Nigerians protesting high prices, marketers are now railing against low costs. From N1050 to N815. Tinubu did it! In just one month, fuel prices have gone down three times.”
