Dangote Refinery to Meet Marketers on Direct Petrol Lifting

Dangote Refinery is set to meet with fuel marketers to discuss direct petrol lifting and potential price reductions, aiming to stabilize the market. Learn more about the upcoming talks.

The direct lifting of Premium Motor Spirit (Petrol) and its price reduction are the topics of a meeting between the members of the Independent Petroleum Marketers Association of Nigeria and Dangote Refinery scheduled for this week.

In a recent statement, IPMAN Spokesperson Chief Chinedu Ukadike revealed this information and stated that the organization’s members are hopeful that the direct lifting of Dangote Petrol will soon begin.

He claims that even with the start of Dangote Petrol distribution, sufficient gasoline distribution has remained a mystery in the nation’s oil and gas industry.

Read Also: Petrol Price Could Drop Below N600 at Dangote Refinery – Experts

“Dangote and IPMAN have a meeting arranged for this week. We are pleased that Dangote has chosen to look to other stakeholders for product distribution on a new path.

He stated, “It is currently being distributed to major marketers, and we anticipate that it will eventually begin to be distributed to independent marketers.”

His remarks coincide with the fact that, following the removal of Dangote Fuel, retail outlets of the Nigerian National Petroleum Company Limited and other independent filling stations sell gasoline for between N950 and N1,100 depending on the location around the nation.

This comes as the Nigerian government has been encouraged by the Crude Oil Refiners Association of Nigeria, or CORAN, to fix foreign currency rates at N1000 per dollar in order to drive down the price of gasoline at Dangote Refinery to less than N600 per litre.