Marketers Suggest New Fuel Price To Dangote As Filling Stations Buy 'Cheaper' Imported Fuel

• Dangote Refinery is reported to have claimed that some marketers are importing cheap, dirty fuel to sabotage the refinery
• In response, independent petroleum marketers have debunked the claims and advised Dangote Petroleum Refinery on what to do
• The marketers' stance was also corroborated by the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN)

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 called on the Dangote Petroleum Refinery to reduce the prices of its petrol products to better compete with importers.

The appeal comes amidst concerns that importers are attracting higher demand due to their more competitive pricing.

The Nation reports that IPMAN's national president, Alhaji Abubakar Maigandi, gave the advice while reacting to claims of importation of cheap dirty fuel into the country.

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Maigandi explained:

"Since there is no subsidy, you can buy your products anywhere and bring it provided the product is okay for consumption.

"They are going outside to buy because it is cheaper than his own. Dangote should beat importers with price. He should lower his price so that anyone who goes outside the country to buy will lose."

Maigandi dismissed Dangote's claims that imported fuel was of inferior quality, noting that there have been no complaints from users who fuel their haulage trucks with imported fuel, Punch reports.

He added:

"The quality is the same because most of our trucks are not complaining. Most of the people who are using trucks are not complaining that the diesel is bad"

He also urged Dangote to partner with IPMAN members to distribute its petroleum products, highlighting its extensive retail network across the country.

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He stressed:

"We advise Dangote to come and partner with independent petroleum marketers. That is the only solution. If he doesn’t partner with independent petroleum marketers, you cannot sell your commodity.

Other players deny claims of dirty fuel

Also reacting, George Ene-Ita, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) corporate communications general manager, stated that the body has not yet received authorisation to respond to Dangote Refinery's allegations.

The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) held the same position.

PETROAN's national president, Billy Harry, said:

"Everybody has the right to his/her opinion. I am a user, and I have not bought any dirty fuel."

Dangote adjusts the diesel price

Earlier, Legit.ng reported that diesel prices at the Dangote Refinery skyrocketed to N1,100 per litre amid the naira's continued fall against the dollar.

Oil marketers reported that the refinery increased the price about two weeks ago, leading to them buying it at about N1,200 per litre.

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Also, petrol prices have increased in many private depots to about N710 per litre, which has led to an increase in pump price to N750 per litre.

Proofreading by James Ojo Adakole, journalist and copy editor at Legit.ng.

Source: Legit.ng