Petroleum Marketers to buy petrol directly from Dangote Refinery, slash price

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has stated that the price of petrol with be reduced by N50 by its members will when purchasing directly from Dangote Refinery,nending the Nigerian National Petroleum Company Limited’s (NNPCL) role as the exclusive buyer of Dangote’s petrol.

,Sharing the news in an interview with Channels Television on Tuesday, IPMAN’s National President, Abubakar Maigandi explained that the association has reached an agreement with Dangote Refinery to supply petrol to IPMAN members at a rate of N940 per litre for depots and N990 per litre for trucks.

Maigandi noted that by the arrangement, IPMAN members who sell petrol between N1,150 and N1,200 per litre at the moment would adjust their prices down by N50, depending on location.
 
“Presently, we have been given two different arrangements on how to buy fuel from the refinery,” he noted. “There’s one where we can load the vessels and carry them to our various depots at the rate of N940 per litre. Then, for the depots, it is at the rate of N990 per litre.”

Citing Maiduguri as an example, Maigandi said, “The current price is N1,200 per litre. With these changes, it may likely reduce to N1,150, which is a reduction of N50. So that’s N1,150; it may even be below that.”

Meanwhile, Nigerians currently pay between N1,060 and N1,200 per litre at NNPCL retail outlets and other filling stations.