A dispute over petrol pricing in Nigeria has intensified, with oil marketers accusing importers of inflating costs to justify selling fuel at N1,350 per litre.
The industry players are simultaneously questioning the legitimacy of the import licenses held by these suppliers, suggesting that irregularities in the licensing process may be driving the elevated pump prices.
This internal industry conflict emerges against a backdrop of strict regulatory oversight.
The Nigerian federal government has previously issued direct warnings to petroleum marketers, explicitly prohibiting the use of profits from previously acquired expensive fuel inventories as a justification for maintaining high petrol prices.
The government's stance indicates a zero-tolerance approach to profiteering, regardless of the supply chain arguments presented by marketers.
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has also reinforced this position, issuing stern warnings against arbitrary increases in pump prices.