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Marketers Begin Direct Petrol Loading from Dangote Refinery, Price Below N1,000 per Litre
Energy

Marketers Begin Direct Petrol Loading from Dangote Refinery, Price Below N1,000 per Litre

by  Dave Ibemere 2 min read
  • Oil marketers have started lifting Premium Motor Spirit (PMS) directly from the Dangote Refinery,
  • IPMAN president confirmed the development but stated that the loading of the product is through MRS Oil for now
  • The Dangote refinery is selling its product below N1,000, and Nigerians will be hoping it has an impact on the pump price

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 Independent Petroleum Marketers Association of Nigeria (IPMAN) has started lifting Premium Motor Spirit (PMS), commonly known as petrol, from the Dangote Petroleum Refinery.

This follows an agreement between the refinery management and marketers in November 2024.

Dangote refinery petrol is now on sale for marketers
Marketers have started buying Dangote petrol at a price not up to N1000 Photo credit: Bloomberg contributor
Source: Getty Images

IPMAN’s national publicity secretary, Chinedu Ukadike, confirmed the development, Punch reports.

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Chinedu stated that the direct loading after an arrangement was reached with Dangote in November.

Read also

Filling stations reduce fuel price as Dangote, marketers strike deal

He, however, explained that independent marketers are loading products through MRS Oil for now while final documentation of the agreement is underway.

Ukadike was quoted as saying:

“There is a pre-arrangement we had. Our experts are putting things together for our documentation.
"Dangote refinery made some products available to us in MRS, and we started the loading gradually (in November). We are buying Dangote products through MRS."

He noted that the arrangement between Dangote and IPMAN involved a middleman, stating that MRS is a transitional phase to streamline direct access to the refinery's products.

He added:

. “This is not the issue of a middleman. We have to start with something first to bridge that gap."

Nigeria Info reports that IPMAN controls about 85% of retail outlets in the country.

Dangote slashes prices

Earlier, Legit.ng reported that the Dangote refinery had decided to reduce its petrol price for marketers from N990 to N970 per litre.

Read also

Marketers oppose NNPC’s petrol price from Port Harcourt refinery

The new price, announced in a statement via X, marks a significant change from the N1,030 per litre price of the Port Harcourt refinery and the cost of importing petrol.

Nigerians are hopeful that with IPMAN now directly lifting products from the Dangote refinery, petrol pump prices would be reduced.

Proofread by Kola Muhammed, journalist and copyeditor at Legit.ng

Source: Legit.ng

Authors:
Dave Ibemere avatar

Dave Ibemere (Senior Business Editor) Dave Ibemere is a senior business editor at Legit.ng. He is a financial journalist with over a decade of experience in print and online media. He also holds a Master's degree from the University of Lagos. He is a member of the African Academy for Open-Source Investigation (AAOSI), the Nigerian Institute of Public Relations and other media think tank groups. He previously worked with The Guardian, BusinessDay, and headed the business desk at Ripples Nigeria. Email: dave.ibemere@corp.legit.ng.

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