By Moses Patience Chat
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has said that the Dangote Refinery will increase inflation in prices of fuel, despite bringing an end to fuel scarcity in the country.
This was stated by the IPMAN Chairman, Dr Joseph Obele, in Rivers State during a briefing with journalists.
Obele said this following the inauguration of the $18 billion single-train refinery in Ibeju-Lekki axis of Lagos, with the capacity to refine 650,000 barrels of crude oil per day by President Muhammadu Buhari on Monday in Lagos State.
The IPMAN Chairman also said that the operations of Dangote Refinery will force the government to sell off the nation’s four refineries since they will not be able to compete with a private firm like Dangote, which operates the competitive game theory as a business strategy.
He, however, congratulated the Chairman of Dangote Group, Alhaji Aliko Dangote, saying that his refiner increase business opportunities and expansions in the country’s oil and gas industry.
