Real reasons marketers are not patronising Dangote refinery

• Marketers claimed that its members are unable to load gasoline from the Dangote Refinery in Lagos
• He said this after Dangote laments that marketers were boycotting his refinery to buy imported petrol
• IPMAN president said iits members paid ₦40 billion to the NNPC, yet they are unable to load petrol

Legit.ng journalist Zainab Iwayemi has over 4-year-experience covering the Economy, Technology, and Capital Market.

Despite having paid ₦40 billion to the Nigerian National Petroleum Company Limited (NNPCL), the Independent Petroleum Marketers Association of Nigeria (IPMAN) claims that its members are unable to load gasoline from the Dangote Refinery in Lagos.

Dangote said he has over 500 million litres in tanks at his mammoth refinery but marketers are not patronising his facility. Photo Credit: Dangote Refinery
Source: Getty Images

This was said by IPMAN President Abubakar Garima on Wednesday's Sunrise Daily program on Channels Television.

Garima said this while responding to the claim by Dangote that marketers were boycotting his refinery to buy imported petrol.

Marketers react to Dangote

In contrast to what the richest man in Africa claimed, the IPMAN leader stated that his members do not import gasoline.

He stated that in order to ensure seamless product loading, the private refinery should register independent gasoline marketers directly instead of obtaining Dangote gasoline through the NNPCL.

“If he (Dangote) can be able to sell the product to us directly, we can buy the product, because we have to pay before we pick. Presently, we have N40bn under the NNPCL custody but we cannot source the product.“Just of recent, there are some of my marketers that NNPCL sent to load in Dangote refinery and those marketers stayed with their trucks for four days, and they cannot load,” he said.

On Tuesday, billionaire businessman Aliko Dangote held a meeting with President Bola Tinubu in Abuja and told reporters that he has over 500 million litres in tanks at his mammoth refinery but marketers are not patronising his facility.

However, Garima said IPMAN, with over 20,000 members in Nigeria, has N40bn upfront payment with the NNPCL and still can’t load the premium product from the private refinery.

Garima said Nigerians would see a reduction in the pump price of petrol if Dangote Refinery let independent marketers lift the product directly like the NNPCL.

Marketers tells Dangote to check price

The IPMAN president also urged Dangote to check the price of his commodity if marketers importing petrol are boycotting his product.

“Since he (Dangote) says marketers are not buying his product, he should check his price properly. Is it higher than what they are obtaining outside or is it the same rate? Then if marketers buy this product through him, how long will it take for it to reach their depots? That one too is a factor,” Garima stated.

The IPMAN president said there was nothing wrong if marketers outside his organisation decided to sell imported products but Dangote “should go and review and check how much are they selling outside.”

Ghana gives condition to buy petrol from Dangote

Legit.ng reported that the head of Ghana's oil regulator stated that once Nigeria's Dangote Oil Refinery reaches full capacity, Ghana may purchase petroleum products from the plant.

Reuters reported that Mustapha Abdul-Hamid, the chairman of Ghana's National Petroleum Authority, stated at the OTL Africa Downstream oil conference in Lagos that this may eliminate $400 million in petroleum imports from Europe each month.

Reuters reported that Mustapha Abdul-Hamid, the chairman of Ghana's National Petroleum Authority, stated at the OTL Africa Downstream oil conference in Lagos that this may eliminate $400 million in petroleum imports from Europe each month.

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Source: Legit.ng