On Sunday, September 15th, the much-anticipated Premium Motor Spirit (PMS), also referred to as gasoline from Dangote Refinery, is expected to hit the Nigerian market. According to sources quoted by Businessday, Nigerian traders will start receiving refined gasoline from the Lagos State refinery. Marketers have been instructed to send their trucks to the refinery today (Friday) to begin the loading process in order to guarantee everything proceeds as planned. It is anticipated that this program will significantly increase the nation’s fuel supply, reduce dependency on imported petroleum, and minimize customer concerns.CONTINUE FULL READING>>>>>
However, Naija News reports that, according to these sources, petrol prices in the market will remain unchanged for now, even with the upcoming launch of PMS from Dangote Refinery, which will initially provide 25 million litres daily through the Nigeria National Petroleum Company (NNPC) Trading Limited.
The Independent Petroleum Marketers Association of Nigeria (IPMAN) is ready to purchase Premium Motor Spirit (PMS), known as petrol, from Dangote Refinery if the price is lower than what they currently pay.
IPMAN president, Abubakar Maigandi, mentioned that his members are interested in buying fuel from Dangote but do not yet know the refinery’s petrol prices.
He stated that they will meet with Dangote Refinery and emphasized that they have no plans to avoid products from the refinery, especially if the prices are competitive.
He said, “After a meeting with our members today (Thursday), we are ready to buy Petrol from Dangote Refinery in any condition provided the price is not more than the price we are getting from other places.
“NNPCL, you know they are the sole importer, the company sells to us at an average price of N875 per liter.
“For the NNPCL product, we sell at N930 or N940 depending on how the product was obtained. While at the depot, we buy at N990 per liter. We are marketers, anywhere we can get it at a lower rate, we will go there.
“In the letter to us, Dangote said the PMS is ready. The price was not stated.
“We can’t boycott Dangote Refinery; if Dangote Refinery’s petrol is cheaper, how can marketers boycott the product?
“We don’t have any issue with Dangote Refinery.”
The statement is a direct reply to Edwin Devakumar, the Vice President of Dangote Industries Limited. He claimed that local petroleum marketers are avoiding Dangote Refinery’s petrol even though it is cheaper.
Edwin shared this accusation during an X space session hosted by Nairametrics, mentioning that only 3 percent of local petroleum marketers want to buy the new petrol.CONTINUE FULL READING>>>>>
