The Nigerian National Petroleum Company Limited (NNPCL) has given major petroleum marketers permission to start removing premium motor spirit (PMS), also referred to as gasoline, from the Dangote Petroleum Refinery in accordance with their current arrangement, according to a report from The Vanguard. As per the initial agreement, NNPCL is the sole authorized distributor of the refinery’s fuel.CONTINUE FULL READING>>>>>
This development marks the commencement of petrol lifting by major marketers from the Dangote Refinery, which is poised to compete with NNPCL.
The first shipment, consisting of 16.8 million litres, was transported by NNPCL’s retail division.
According to Vanguard, several major marketers, including 11 Plc, have already collected the product for distribution to their outlets in Lagos and other regions across Nigeria.
A marketer, speaking anonymously, confirmed, “Major marketers have started lifting from the Dangote Refinery, but this is still under NNPCL’s arrangement with the refinery.
We are lifting NNPCL’s product from the Dangote facility; there is no direct agreement between us and the refinery.”
It was noted that independent marketers are not yet part of this updated arrangement.
In a phone interview with Vanguard, Alhaji Abubakar Garima, National President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), confirmed that only NNPCL currently has access to fuel from the Dangote Refinery, and most of the product is being supplied to NNPCL retail outlets.
Garima added that independent marketers are awaiting the new price of petroleum products from NNPCL before they can begin lifting.
“We are still loading at the old rate of N875 per litre, as many of our members have pending stock with NNPCL, which we expect to be cleared this week,” he said.CONTINUE FULL READING>>>>>
