Marketers To Meet With Dangote Refinery on Direct Petrol Supply and Pricing

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has revealed that its members will meet with representatives of Dangote Refinery this week to discuss the direct procurement of Premium Motor Spirit (PMS), commonly known as petrol. The meeting also aims to explore potential price reductions.

Chief Chinedu Ukadike, IPMAN’s spokesperson, disclosed the upcoming discussions, expressing optimism that independent marketers would soon begin lifting petrol directly from Dangote, which could improve the distribution challenges currently facing Nigeria’s oil and gas sector.

“We are pleased that Dangote is now distributing to major marketers, and we are hopeful that it will extend the distribution to independent marketers soon,” Ukadike said.

Meanwhile, petrol prices at retail outlets of the Nigerian National Petroleum Company Limited (NNPCL) and independent filling stations are fluctuating between ₦950 and ₦1,100 per litre, depending on location.

In response, the Crude Oil Refiners Association of Nigeria (CORAN) has urged the Nigerian government to implement a fixed foreign exchange rate of ₦1000 per dollar. This move, they believe, could help bring the price of petrol from Dangote Refinery down to below ₦600 per litre.