Independent petroleum marketers have confirmed that the Dangote Petroleum Refinery has set a target to release up to 600 million litres of petrol monthly as part of efforts to stabilise supply in the domestic market and ease the recent surge in pump prices.
It said the new distribution framework is been finalised with 20 selected marketers that will see the release of up to 600 million litres of petrol monthly to stabilise the Nigerian downstream market amid lingering supply challenges and rising pump prices.
This was disclosed by the National Public Relations Officer of the Independent Petroleum Marketers Association of Nigeria, Chinedu Ukadike, on Thursday, who confirmed that the refinery recently held a strategic meeting with key players in the downstream sector.
According to him, the meeting, which included representatives of A.Y.M. Shafa, A. A Rano, NNPCL Retail, Salbas, and several other major distributors, focused on how to streamline product allocation and reduce the layers of middlemen contributing to price distortions.