Dangote refinery, marketers to meet over petrol lifting, pricing

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has announced plans to meet with the Dangote Refinery this week to discuss the direct lifting of Premium Motor Spirit (PMS) and explore potential price reductions.

Chief Chinedu Ukadike, IPMAN’s spokesperson, revealed in a statement that the association is optimistic about commencing direct petrol lifting from the Dangote Refinery soon.

He highlighted that despite the refinery’s commencement of petrol distribution, effective distribution remains a significant challenge in Nigeria’s oil and gas sector.

“There is a meeting scheduled for this week between Dangote and IPMAN. We are happy that Dangote has set on a new course in terms of looking to other stakeholders to distribute its products,” Ukadike said.

“It is now distributing to major marketers, and we are hopeful that with time it will start distributing to independent marketers.”

The meeting comes amid high petrol prices, with NNPC retail outlets and other independent filling stations selling petrol between N950 and N1,100 per litre, depending on the location, following Dangote’s fuel distribution.

Additionally, the Crude Oil Refiners Association of Nigeria (CORAN) has urged the Nigerian government to peg the foreign exchange rate at N1,000 per dollar.

According to CORAN, this adjustment could help reduce the price of Dangote Refinery’s petrol to below N600 per litre, potentially easing the burden on consumers.

ALSO READ THESE TOP STORIES FROM NIGERIAN TRIBUNE 

• 10 things to know about newly elected Edo gov, Okpebholo

• Flood: ‘Clear canals, drainage, gutters’, FG alerts Nigerians

• #EdoDecides2024: Okpebholo’s victory confirms people’s acceptance of APC ideals — Tinubu

• BREAKING: APC’s Okpebholo wins Edo guber election

• Tinubu orders crackdown on transnational car thieves, cybercriminals

• Why Labour Party won’t punish Obi – Abure-led faction