The Independent Petroleum Marketers Association of Nigeria (IPMAN) has slammed the Nigerian National Petroleum Company Limited (NNPCL), accusing it of enabling monopoly in the oil and gas sector by failing to revive key state-owned refineries.
Addressing journalists, IPMAN spokesperson Chinedu Ukadike pointed fingers at NNPCL over the prolonged uncertainty surrounding the rehabilitation of the Port Harcourt, Warri, and Kaduna refineries.
“NNPCL refineries are not working. We urge the president to declare a state of emergency on these facilities. It’s NNPCL that’s encouraging monopoly, not the Dangote Refinery,
If those refineries were operational, they would keep Dangote in check and drive down prices through healthy competition.” Ukadike said.
The fiery remarks come on the heels of NNPCL’s recent announcement that the Port Harcourt Refining Company (PHRC) has been shut down for maintenance with no timeline for resumption.
The move has reignited public outrage and debate over the $1.5 billion spent to rehabilitate the Port Harcourt and Warri refineries just months ago, in November and December 2024.
Many now question the viability of the investment and the transparency of the process.
