Kalu Aja Refutes IPMAN's Claim on PMS Import Costs: Calls for Transparency in Domestic Sourcing

Financial analyst and educator Kalu Aja has challenged claims made by some oil marketers that importing Premium Motor Spirit (PMS) from abroad is more cost-effective for Nigeria than sourcing it from a domestic refinery.

Aja explained that the claim could only hold if crude oil were initially taken from Nigeria without proper channels and then re-imported as PMS. "I say again. There is no way you can import PMS back to Nigeria at a price lower than a local refinery refining local Nigerian crude oil. Unless you stole the crude oil from Nigeria, exported it, and are now importing PMS back to Nigeria to launder the theft," Aja posted on X.

This response follows the Independent Petroleum Marketers Association of Nigeria’s (IPMAN) assertion that the price of fuel from the Dangote Refinery is currently higher than other international suppliers. IPMAN's National Assistant Secretary, Yakubu Suleiman, made the claims on Friday during an interview on Arise Television’s Morning Show.