Oil & Energy
IPMAN Laments Losses From Dangote, NNPCL Fuel Price Feud

The Independent Petroleum Marketers of Nigeria (IPMAN) has said the price war between the Nigerian National Petroleum Company Limited (NNPCL) and Dangote Petroleum is affecting its members.
The Chairman, IPMAN, Enugu Depot Community, in charge of Anambra, Ebonyi and Enugu states, Chinedu Anyaso, stated this during an interview with journalists in Awka, Anambra State, at the Weekend.
Anyaso said the price instability in the sector had resulted in the high level of uncertainty and a reduction in investors’ confidence.
The Premium Motor Spirit, also known as petrol, sells for between N865 and N950 per litre in Awka.
He said though the competition had helped in price reduction, which was also good for members of the public, the fluctuation in price of PMS arose from competition between the two giants and not due to variations in the international market.
According to him, marketers are on the receiving end of this price war between Dangote and NNPCL.
“Our members are incurring losses because of the unstable environment.
“For instance, a marketer will buy products from any of them, and before leaving the depot, you hear that the price of petrol has dropped by about N10 or N20 per litre.
“The cause of the recent drop was that marketers had a discussion with one of the companies, and without any major changes in the market, the other company slashed prices by a wide margin, thereby throwing most of our members into jeopardy.
“We can no longer project with certainty; paying of loans and salaries are becoming difficult because profitability is no longer guaranteed due to the regular variation in prices”, he said.
To restore stability in the market, Anyaso insisted that NNPCL go into full time production.
He called on the Federal Government to revisit the outstanding bridge claim owed marketers stating that most businesses had packed up while others were struggling to remain due to non-payment.
“For the masses to enjoy the full benefit of deregulation and fair pricing, the two giants have to operate from the same standpoint, NNPCL has to go into full scale production.
“That is the only way they can compete and also ensure stable market, combination of local product and importation cannot guarantee us that; we need to protect marketers and save jobs”, he added.
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Digital Technology Key To Nigeria’s Oil, Gas Future

Experts in the oil and gas industry have said that the adoption of digital technologies would tackle inefficiencies and drive sustainable growth in the energy sector.
With the theme of the symposium as ‘Transforming Energy: The Digital Evolution of Oil and Gas’, he gathering drew top industry players, media leaders, traditional rulers, students, and security officials for a wide-ranging dialogue on the future of Nigeria’s most vital industry.
Chairman of the Petroleum Technology Association of Nigeria (PETAN), Wole Ogunsanya, highlighted the role of digital solutions across exploration, drilling, production, and other oil services.
Represented by the Vice Chairman, Obi Uzu, Ogunsanya noted that Nigeria’s oil production had risen to about 1.7 million barrels per day and was expected to reach two million barrels soon.
Ogunsanya emphasised that increased production would strengthen the naira and fund key infrastructure projects, such as railway networks connecting Lagos to northern, eastern, and southern Nigeria, without excessive borrowing.
He stressed the importance of using oil revenue to sustain national development rather than relying heavily on loans, which undermine financial independence.
Comparing Nigeria to Norway, Ogunsanya explained how the Nordic country had prudently saved and invested oil earnings into education, infrastructure, and long-term development, in contrast to the nation’s monthly revenue distribution system.
Chief Executive Officer (CEO) and Executive Secretary of the Major Energies Marketers Association of Nigeria (MEMAN), Clement Using, represented by the Secretary of the Association, Ms Ogechi Nkwoji, highlighted the urgent need for stakeholders and regulators in the sector to embrace digital technologies.
According to him, digital evolution can boost operational efficiency, reduce costs, enhance safety, and align with sustainability goals.
Isong pointed out that the downstream energy sector forms the backbone of Nigeria’s economy saying “When the downstream system functions well, commerce thrives, hospitals operate, and markets stay open. When it fails, chaos and hardship follow immediately,” he said.
He identified challenges such as price volatility, equipment failures, fuel losses, fraud, and environmental risks, linking them to aging infrastructure, poor record-keeping, and skill gaps.
According to Isong, the solution lies in integrated digital tools such as sensors, automation, analytics, and secure transaction systems to monitor refining, storage, distribution, and retail activities.
He highlighted key technologies including IoT forecourt automation for real-time pump activity and sales tracking, remote pricing and reconciliation systems at retail fuel stations, AI-powered pipeline leak detection, terminal automation for depot operations, digital tank gauging, and predictive maintenance.
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