Marketers Reply Dangote, Explain Why They Are Not Patronising His Refinery for Petrol
- Marketers have claimed that their members are unable to load gasoline from the Dangote Refinery in Lagos
- They reacted after Dangote lamented and accused them of boycotting his refinery to buy imported petrol
- IPMAN president said its members paid N40 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 paying N40 billion to the Nigerian National Petroleum Company Limited (NNPCL), the Independent Petroleum Marketers Association of Nigeria (IPMAN) has claimed its members are unable to load gasoline from the Dangote Refinery in Lagos.
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Abubakar Garima, the association's president, stated this on Wednesday, October 30, 2024, while on Sunrise Daily, a Channels Television programme.
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 Aliko Dangote, the richest man in Africa claimed, the IPMAN leader stated that his members do not import gasoline.
He clarified 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.
At his meeting with President Bola Tinubu in Abuja on Tuesday, October 29, 2024, Dangote informed reporters that although he had more than 500 million liters in tanks at his massive refinery, marketers are not patronising his facilities.
But reacting, Garima claimed that despite having over 20,000 members in Nigeria and having paid the NNPCL N40 billion up advance, IPMAN is still unable to load the premium product from the private refinery.
Garima said Nigerians would see a reduction in the pump price of petrol if Dangote Refinery allows independent marketers to 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.”
Meanwhile, Samuel Oyekanmi, a research and insight associate with Norrenberger Financial Group commented on the full implementation of Dangote refinery and other refineries in the country.
"The full implementation of Dangote Refinery is a potential growth propeller, however it will take time before we start seeing the full impact on the economy."
Ghana gives condition to buy petrol from Dangote
Legit.ng earlier 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.
Proofreading by James, Ojo Adakole, journalist and copy editor at Legit.ng.
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