The Independent Petroleum Marketers Association of Nigeria (IPMAN) has said that the ongoing price war between the Nigerian National Petroleum Company Limited (NNPCL) and Dangote Petroleum is negatively affecting its members.
Mr. Chinedu Anyaso, Chairman of IPMAN, Enugu Depot Community, in charge of Anambra, Ebonyi, and Enugu states, stated this during an interview with journalists in Awka on Friday.
Anyaso said the price instability in the sector had resulted in a high level of uncertainty and a reduction in investors’ confidence.
The News Agency of Nigeria (NAN) reports that Premium Motor Spirit (PMS), also known as petrol, sells for between N865 and N950 per litre in Awka.
He said that while competition had contributed to price reductions, which benefited the public, the fluctuation in PMS prices was driven by rivalry between the two companies rather than changes in the international…
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