Taiwo Popoola
The Independent Petroleum Marketers Association of Nigeria has said the commencement of direct sales of Dangote’s Premium Motor Spirit (Petrol) to its members will crash the price of fuel in the country in the coming days.
The National Secretary of the Independent Petroleum Marketers Association of Nigeria,
Yakubu Sulaiman, disclosed this in an exclusive interview with Arise News Channel’s Morning Show and that which was Monitored by Urban Express News Online On Tuesday
His statement comes after IPMAN National President, Abubakar Maigandi, announced on Monday that Dangote Refinery has agreed to sell Petrol Directly to his Members
The agreement between IPMAN and the 650,000 barrels per day Dangote Refinery brings an end to the middleman posture played by the Nigerian National Petroleum Company Limited on the inaugural lifting of Dangote Petrol on September 16, 2024.
Similarly, Urban Express News Business reports that the direct sale agreement means that petrol marketers have dumped imported fuel for Dangote petrol.
Speaking on the impact of the direct purchase agreement between IPMAN and Dangote Refinery, Sulisman explained that Nigerians will experience a drastic reduction in the price of petrol and a boost in the products’ availability nationwide.
According to him, the agreement would make the pump price of petrol at independent marketers’ retail outlets drop below N1,150 per litre.
“If the business agreement kicks off, you will see a drastic reduction in the price of gasoline.
“For obvious reasons, it will lead to easy availability of the product and price factor. We are the major stakeholders who have filling stations across the country.
“The price of petrol in our filling station will go much below N1,150 in our retail outlets depending on what Dangote Refinery agreed to give to us,” he told DAILY POST.
The spokesperson of Dangote Group, Anthony Chiejina, confirmed that IPMAN and Dangote Refinery have agreed on the direct sale of PMS.
Recall that petroleum marketers had in the last weeks sought the partnership of Dangote Refinery on direct sale of PMS.
This comes after the Nigerian government announced that NNPCL will no longer be the sole off-taker of Dangote Petrol, which is part of the implementation of the Naira-for-crude deal.
The Naira-for-crude implementation committee led by the Minister of Finance, Wale Edun, on October 11, 2024, Permitted Market to lift Dangote Petrol
The latest agreement between IPMAN and Dangote Refinery on direct petrol sale has brought an end to the controversy between oil marketers and Dangote Refinery over fuel price in the last few days.
Dangote Refinery last week revealed that its gasoline is sold at N960 and N990 per litre for ships and trucks.
Earlier, IPMAN had insisted that imported fuel is cheaper than Dangote’s petrol.
