MRS, Dangote Refinery Petrol Emerge Favourites As Depots Hike Fuel Price

The Independent Marketers Association of Nigeria (IPMAN) has announced a change in allegiance to the Dangote Petroleum Refinery, following a 4.7 per cent increase in the depot price of Premium Motor Spirit (PMS), commonly referred to as petrol, which has risen to ₦950 per litre from ₦907 last Friday.

This increase is attributed to the rising cost of crude oil, which has escalated to $80 per barrel this week, up from $73 per barrel the previous week.

The Public Relations Officer of IPMAN, Chinedu Ukadike, confirmed this shift in allegiance to journalists, stating that members have been encouraged to procure supplies from Dangote Refinery, emphasizing the necessity of moving away from reliance on depot owners.

“We have encouraged our members to buy from Dangote Refinery. We cannot continue to depend on depot owners to buy our products, especially when we can buy directly from the refinery.

“The minimum quantity to buy from Dangote Refinery is two million litres at ₦909 per litre. We can also buy from MRS, which also distributes Dangote refinery petrol,” Ukadike told Vanguard in an interview.

The National President of IPMAN, Alhaji Garima, explained the situation: “Our members still buy from the Nigerian National Petroleum Company Limited, NNPCL at ₦899.50 per litre. For now, the portal to purchase the product is closed. We buy a high volume of products from the Dangote/MRS arrangement as it is cheaper.

“Although some of our members still buy from private depots, we have advised them that the arrangement with Dangote is the best. Many also patronise MRS because of the incentive the company provides.

“For instance, if a marketer buys the product from Lagos and the product is being transported to Kano, MRS can sell at ₦850 per litre. That is the reason why some of our marketers that get MRS petrol can sell at ₦935 per litre.”

He added: “However, we advise our members to collaborate and join funds together to buy directly from Dangote Refinery. The Federal Government is no longer subsidising petrol, which explains why petrol price is no longer fixed as it used to be.”