Marketers Respond to Allegations As Dangote Petrol Pump Price Emerge
- Marketers have dismissed claims that it boycotted the Dangote refinery as alleged by Dangote's group vice chairman
- The oil marketers are now seeking clear guidelines from the government regarding petrol offtake from the refinery
- On Sunday, NNPC began the loading of petrol from the Dangote refinery, which sources say may sell for N857, N865 per litre
Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
The Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) has responded to comments from the Dangote refinery that marketers are boycotting its product because it is cheap.
In a statement, Olufemi Adewole, Executive Secretary DAPPMAN, clarified that no such boycott exists and called for the establishment of clear procedures.
Source: UGC
Adewole said that transparency in the sector was needed to ensure that all stakeholders can contribute effectively to the availability and accessibility of petroleum products across Nigeria, Punch reports.
PAY ATTENTION: Click “See First” under the “Following” tab to see Legit.ng News on your Facebook News Feed!
Part of the statement reads:
“The sector needs to operate transparently in a manner that allows all stakeholders to thrive and contribute significantly to the quest of ensuring availability, reliability, and accessibility of petroleum products nationwide.”
Dangote Refinery accuses oil marketers of low patronage
Earlier, Legit.ng reported that Dangote Refinery raised concerns over the lack of patronage from Nigerian oil marketers due to its low prices.
Devakumar Edwin, Vice President of Dangote Industries Limited, disclosed this during an X Spaces session organised by Nairametrics.
According to Edwin, the refinery struggles to sell diesel and aviation fuel daily, so it has decided to export its products instead.
Marketers respond
Responding, Adewole stated that DAPPMAN members have been purchasing products from the Dangote Refinery.
He added:
“DAPPMAN has evidence showing its members' patronage of various products from the Dangote Refinery, believes firmly in meeting Nigeria’s energy needs.
"We remain aligned with calls for the nation not to end up in a monopoly, which would jeopardize our economic growth and development"
He also noted that market dynamics would drive fuel purchases, with buyers opting for sources that offer competitive pricing, better quality, and accessibility.
Dangote petrol price
In a related development, Legit.ng reported that NNPC Limited has begun the loading of petrol from the Dangote refinery.
The report stated that the NNPCL is projected to lift the product at N960/N980 per litre and sell to marketers at N840/N850 to enable Nigerians to get it between N857 and N865 at the pump at filling stations.
This means NNPC will pay a price subsidy or under-recovery of about N130 for Nigerians to get the product cheaper.
PAY ATTENTION: Сheck out news that is picked exactly for YOU ➡️ find the “Recommended for you” block on the home page and enjoy!
Source: Legit.ng
