The fierce price war between the two dominant players in the downstream sector– Dangote Petroleum Refinery and NNPC Retail Limited, has driven petrol prices down, but the situation may have taken a troubling turn, with some industry players now resorting to unethical practices to stay in business. The development has also resulted in significant losses for many investors, particularly small to medium-sized fuel retail outlets, signaling that they may soon be pushed out by the industry’s larger players. Some transporters who spoke to Daily Sun in separate interviews said the price war has left commercial bus operators at the receiving end as most fuel dispensing machines were now fraudulently adjusted. A commercial tricycle operator who identified himself as Hakeem Oriade, said most filling stations, especially those operated by independents, have adjusted their pumps in a bid to maximize profit. “At the moment, if I buy 10 litres of fuel, what I am getting in value is about eight litres”, he lamented. Another operator at the popular Oja Oba market motor park in Abule Egba, Mr. Adesina Odutade, corroborated the claims of Oriade, saying most tricycle operators are currently running at a loss.

Sun