Marketers Join Queue as Dangote Refinery Prepares to Receive Last Batch of Crude Oil
- The Independent Petroleum Marketers Association of Nigeria has sent a letter to Dangote Refinery to show interest in its products
- Although it is yet to get feedback from the refinery, the association said it has followed up with emails to the plant
- This comes after a report that the refinery will soon receive its last batch to start operations at its facility
Legit.ng journalist Zainab Iwayemi has over three years of experience covering the Economy, Technology, and Capital Market.
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has shown interest in Dangote Petroleum Refinery's products.
Source: UGC
It made this known in a letter requesting the allocation of products from the plants, Abubakar Maigandi, its National president told The Nation.
This is on the back of a report that the 650,000 bpd-capacity Dangote Refinery in Lagos will get the last tranche of one million barrels of crude oil on Monday, January 8, 2024, which sets the stage for the commencement of operations at the facility.
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Follow up mails to Dangote Refinery
While the refinery has yet to respond to the request, the association has a follow-up mail to the plant.
Maigandi noted that IPMAN members, with 80% of the retail outlets nationwide, plan to secure direct allocation from Africa's largest refinery for onward distribution to the consumers.
Now that the Yuletide is over, he expressed optimism that its delegation will meet with the refinery's management.
He said:
“We wrote to Dangote Refinery, and we are waiting for his response. We have sent another letter.
“We want him to give us part of his allocation from his production since we cover more than 80% of Nigeria. We want to partner with him so that he can give us allocation to our marketers.”
Maigandi noted that the petrol market has been very stable but mentioned that marketers were still grappling with transportation challenges.
According to him, the transportation glitches result from the debt the defunct Petroleum Equalisation Fund owed the marketers for bridging the product when there was a subsidy.
He urged the government to pay the marketers for the smooth distribution of products across the country.
Maigandi said:
“Private depots sell N621 while others sell N615. NNPC sells for N557/litre, depending on the location. There is no delay in loading.
“We have issues with transportation because of the outstanding debts since the Petroleum Equalisation Fund. The government needs to pay marketers from when it was scrapped to now.”
Marketers engage offshore refineries for cheaper supply of petrol, diesel, jet A1, cooking gas
Legit.ng reported that the Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN) revealed it is in advanced discussions with four offshore refineries regarding the provision of 300,000 metric tons of Petrol, Diesel, Jet A1, and cooking gas to the Nigerian market by the first quarter of 2024.
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This announcement comes in response to opposing views in certain circles suggesting that the retail pump price of petrol should be capped at N1,200 per litre.
Billy Harry, the national president of PETROAN, shared share this in a recent interview with Daily Sun.
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Source: Legit.ng
