Dangote Refinery, Marketers To Meet Over Petrol Lifting, Pricing

The Independent Petroleum Marketers Association of Nigeria has announced that its members are scheduled to meet with Dangote Refinery this week to discuss the direct procurement of Premium Motor Spirit (PMS), better known as petrol or fuel and potential price reductions.

The spokesperson for IPMAN, Chief Chinedu Ukadike, made this information public in a recent statement, expressing optimism among members regarding the imminent initiation of direct petrol lifting from Dangote.

He noted that the effective distribution of petrol continues to pose challenges within the nation’s oil and gas industry despite the initiation of Dangote’s petrol distribution.

“There is a meeting scheduled for this week between Dangote and IPMAN. We are happy that Dangote has set on a new course in terms of looking to other stakeholders to distribute its products.

”It is now distributing to major marketers and we are hopeful that with time it will start distributing to independent marketers,” he said.

Naija News reports that his statement arises as the retail outlets of the Nigerian National Petroleum Company Limited and various independent filling stations are offering petrol at prices ranging from ₦950 to ₦1,100, contingent upon the geographical location within the country, following the lifting of Dangote Fuel.

In this context, the Crude Oil Refiners Association of Nigeria (CORAN) has called upon the Nigerian Government to establish a fixed foreign exchange rate of ₦1000 per dollar, with the aim of reducing the price of petrol from the Dangote Refinery to below ₦600 per litre.