Revealed! Marketers open up on new petrol price after agreement with Dangote refinery

• Marketers said Nigerians will get to know the new fuel pump price latest by Wednesday.
• They noted that negotiation is still ongoing with the refinery about the pricing strategy
• The association said the discussion is centred around how Nigerians will get a cheaper petrol price

Legit.ng journalist Zainab Iwayemi has 5-year-experience covering the Economy, Technology, and Capital Market.

The Independent Petroleum Marketers Association of Nigeria (IPMAN), has said that Nigerians will be informed of the new petrol pump price by Wednesday, November 13th at the latest.

Petroleum marketers' announcement that they had at last reached a deal with Dangote Refinery to lift goods directly. Photo Credit: Contributor
Source: UGC

This comes as the association revealed that discussions on the pricing plan are still going on between the association and Dangote Refinery.

During its meeting with Dangote Refinery on Monday, IPMAN claimed to have settled all other issues and that Nigerians would be affected in the days ahead.

IPMAN National Assistant Secretary Yakubu Suleiman said this on Tuesday during an interview with Arise Television's Morning Show.

The announcement follows the petroleum marketers' announcement that they had at last reached a deal with Dangote Refinery to lift goods directly.

Suleiman claimed that the main focus of the conversation with Africa's largest refinery was how to lower the price of gasoline for Nigerians, and that IPMAN finds it inconvenient that Nigerians are paying more for it.

He said,

“We are happy that with that meeting with Dangote Refinery, we have resolved all the nitty gritty. By the grace of God, very soon, within the next few days, Nigerians will feel the impact.“The whole thing is centered around ‘how do we have a cheaper petroleum price.’ Like I said earlier in my former interview, it bothers us that Nigerians are buying at the higher rate.“The discussion with Dangote is still ongoing. I believe between today and tomorrow we will finish on the issue of pricing.“I want you to exercise patience. You must have heard what our IPMAN National President stated yesterday. So, between today and tomorrow, once the issue of pricing is finalized, Mr. President will come out to the public and inform the generality of Nigerians, ‘this is the price IPMAN has agreed with Dangote, and this is the price that we are going to sell in our retail outlets.’ Now, I want to assure you it’s going to be cheaper.”

More Countries Show Interest To Buy Dangote Petrol

Legit.ng reported that The Dangote Refinery, Africa’s largest oil refinery, is set to expand its reach as it prepares to begin fuel exports to South Africa, Angola, and Namibia.

The 650,000-barrel-per-day refinery, located in Lekki, Lagos, is nearing completion of negotiations with these countries, marking a significant milestone in its global operations.

Punch reports that in addition to these three countries, negotiations are underway with four other African nations: Niger Republic, Chad, Burkina Faso, and the Central African Republic.

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Source: Legit.ng