Petroleum marketers in Ebonyi State have raised concerns over an impending increase in the pump prices of petrol and diesel, following the Federal Government’s recent approval of a 15 percent import tariff on refined petroleum products.
Speaking at a press conference on Friday in Abakaliki, the Chairman of the Petroleum Dealers Association of Ebonyi State, Chief Aloysius Nwibo, said the policy though intended to encourage local refining and promote investment in the downstream sector would inevitably drive up the retail prices of petroleum products across the country.
“The new tariff will affect the prices of imported products, particularly diesel and Premium Motor Spirit (PMS). While it is meant to create a level playing field for local refiners like Dangote, the reality is that pump prices will rise,” he said.
Nwibo explained that the impact of the new import duty could be felt within weeks, noting that dealers anticipate a gradual increase in fuel prices, starting with an adjustment of about ₦99 per litre and potentially rising to ₦150 as the policy takes full effect.
“If the current depot price in Lagos hovers around ₦960 per litre, retail prices in other regions may hit ₦1,000 before the end of the month,” he warned.
Despite the prevailing economic strain, the petroleum dealers commended the Ebonyi State Government for maintaining what they described as a “friendly and stable business environment.”
They attributed their improved relationship with the authorities to Governor Francis Nwifuru’s “listening and responsive leadership.”
“We inherited revenue issues from the previous administration, but Governor Nwifuru invited us to the table, listened to our grievances, and resolved the dispute amicably. Since then, our partnership with the government has been cordial,” Nwibo said.
He praised Governor Nwifuru’s administration for harmonizing internally generated revenue (IGR) collections, which, according to him, has curbed the harassment of fuel dealers and eliminated multiple taxation.
“Previously, several groups and individuals would storm our stations demanding all sorts of levies. Today, with the harmonized IGR system, once you pay, you’re free to operate. The business climate is now clearer and safer,” he added.
Addressing public concerns about adulterated fuel in parts of the state, Nwibo assured that the association enforces strict disciplinary measures against offenders.
“We do not condone adulteration in any form. Sometimes, water may enter a tank unknowingly, but deliberate adulteration is criminal. Any member found guilty will be sanctioned in collaboration with the authorities,” he emphasized.
The dealers also appealed to the state government for greater inclusion in official activities and policy consultations, describing petroleum marketers as “critical economic stakeholders.”
Nwibo further commended the appointment of one of their members as Special Assistant to the Governor on Petroleum Matters, saying the move reflects a deeper understanding of the industry’s technical nature and the need for expert input.
“For the first time, someone from our association was appointed as Special Adviser on Petroleum. It shows the governor values competence and industry experience. We hope this practice continues.
When the government provides a stable and transparent environment, business thrives. We will continue to cooperate with the government to sustain peace and growth in the industry,” Chief Nwibo concluded.
The association’s secretary, Mr. Chukwu Ani Livinus, added that while crude oil prices have fluctuated between $58 and $65 per barrel in recent months, global market volatility and rising operational costs have continued to erode marketers’ profit margins.
“We spend over ₦40 million to buy 45,000 litres and earn barely ₦15 per litre. The profit margin is shrinking, yet we must keep the business running,” he lamented.
He also stressed the importance of including marketers in state-level economic planning.
“Nigeria runs a petro-economy; no sector thrives without petroleum. We should be carried along in state programmes and policy discussions, just as traders and other business groups are,” he added.
