Marketers have requested direct access to petrol from the Dangote refinery, challenging the Nigerian National Petroleum Corporation Limited’s (NNPCL) monopoly.
The National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Chinedu Ukadike, urged for an open market aligned with the previously promised willing-buyer, willing-seller policy.
Despite NNPCL’s earlier statement confirming it was not the sole buyer, the Federal Government later announced that NNPCL would be remain the sole purchaser of petrol from the Dangote refinery.
Speaking at a briefing in Abuja, Finance Minister Wale Edun revealed that Dangote’s petrol distribution would begin with an initial 25 million litres per day from September 15, 2024.
By October 1, NNPCL will supply crude oil to Dangote, with payments made in naira, and Dangote will reciprocate by providing PMS and diesel for the domestic market.
However, marketers, including Ukadike and Billy Gillis-Harry, the National President of the Petroleum Products Retail Outlets Association of Nigeria (PETROAN), expressed concerns about a domestic monopoly.
Gillis-Harry warned of potential dangers in the industry due to the lack of transparency regarding pricing.
As part of the distribution plans, NNPCL mobilised 300 trucks to load PMS from the Dangote refinery.
Oil marketers also confirmed that Dangote would sell petrol to NNPCL at N766 per litre, a price lower than the current NNPC price of N870 per litre.
However, the final retail price, particularly in regions like Lagos and the far north, remains uncertain.
Independent marketers expect to sell PMS at N790 per litre in Lagos and around N820 in the north.
Despite their support for Dangote, marketers like Gillis-Harry raised concerns about the lack of direct communication with the refinery, as many retail outlets were left out of crucial discussion
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