The Independent Petroleum Marketers Association of Nigeria (IPMAN) has accused the Nigerian National Petroleum Company Limited (NNPCL) of fostering monopoly in the country’s oil and gas sector.

 

The allegation stems from the ongoing inconsistencies surrounding the rehabilitation of Nigeria’s state-owned refineries in Port Harcourt, Warri, and Kaduna.

 

Speaking on behalf of the association, IPMAN’s spokesperson, Chinedu Ukadike, argued that the failure of NNPCL-managed refineries to operate effectively has given room for monopolistic practices, particularly as Dangote Refinery emerges as the dominant player in the domestic petroleum market.

 

“If the NNPCL refineries were functional, they would serve as a counterbalance to Dangote Refinery, leading to healthier competition and more affordable petroleum prices for Nigerians,” Ukadike stated.

 

He urged President Bola Tinubu to urgently declare a state of emergency on the refineries to accelerate their operational revival.

 

“NNPCL is the one encouraging monopoly, not Dangote. We need swift action from the presidency to bring the refineries back online,” he emphasized.

 

His comments follow NNPCL’s recent announcement of a shutdown at the Port Harcourt Refining Company (PHRC) for maintenance, with no specific timeline for resumption of operations. The announcement reignited concerns about the viability of the Port Harcourt and Warri refineries, which reportedly underwent rehabilitation in late 2024 at a cost exceeding $1.5 billion.