Dangote: ‘Petrol Price May Reduce’ – Marketer

A senior official of the Independent Petroleum Marketers Association of Nigeria (IPMAN) has reacted to reports that the Dangote Refinery will sell petrol at ₦766 per litre to the Nigerian National Petroleum Company Limited (NNPC).

The official, who spoke on condition of anonymity, highlighted that while the base price of ₦766 per litre is set by the refinery, marketers will need to factor in additional costs such as transportation, levies, and other operational margins.

This reaction comes amid emerging reports that the Dangote Refinery is gearing up to commence the sale of petrol at this price, following the arrival of at least 300 trucks from NNPC at the refinery.

The trucks are scheduled to begin loading petrol on Sunday, September 15, 2024.

According to the official, marketers may sell at ₦790 in Lagos and ₦820 per litre in far north, amidst high price purchase of petrol across the country.

Naijaonpoint understands that marketers are currently selling petrol for buyer at the rate of ₦1,005 per litre in some states in the country.

The official in his take said, “Give and take, we can sell at ₦790 in Lagos. In the far north, it may be ₦820 per litre because of the distance.”

The National President of the Petroleum Products Retail Outlets Association of Nigeria, Gillis-Harry, however, said his group was not aware of the price of fuel from the Dangote refinery.

“Well, it will be acceptable because now we are paying NNPC ₦870 for a litre, so if we see it at ₦766, it is cheaper and we will prefer to buy that.

“I cannot determine how much we will sell to Nigerians; we will work out the retail price. It is not one individual or one organisation’s prerogative to put a price, we will work it out and we will argue out our point.

“We are ready to support Dangote, but they are not talking to us. We are the people they need; I have over 6,000 retail outlets under my management, but Dangote is not talking to us”, he added.