Nigerian petroleum marketers are optimistic about selling petrol at a lower price than the Nigerian National Petroleum Company Limited, NNPC, once Dangote Refinery begins direct sales to them.
The Independent Petroleum Marketers Association of Nigeria, IPMAN, spokesperson, Chinedu Ukadike who confirmed this in an interview expressed optimism that its members would purchase petrol from Dangote Refinery at a lower price, enabling them to sell cheaper than NNPC.
This development comes after the Federal Government granted permission for marketers to buy petrol directly from Dangote Refinery.
The Minister of Finance, Wale Edun, announced the approval last Friday, implementing the Naira-for-crude deal with Dangote Refinery.
This move ends NNPC’s regime as the sole buyer of Dangote Refinery’s petrol as initially, it was the sole off-taker during inaugural petrol distribution.
However, the new arrangement allows marketers to lift petrol directly without NNPC as a middleman.
The latest hike in petrol prices at NNPC filling stations to N1,030 per liter in Abuja has sparked concerns.
Other petrol stations sell between N1,100 and N1,200, while NNPC fixed ex-depot prices between N1,040 and N1,100.
Marketers had rejected the ex-depot price set by NNPC which led the government’s permission to lift Dangote petrol and provide alternatives to fuel import.
IPMAN members, controlling 70% of filling stations nationwide, await Dangote Refinery’s direct sales kickoff.
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According to Ukadike, direct purchase from Dangote Refinery will remove additional fees charged by NNPC, leading to lower prices.
He said: “We are still waiting on Dangote Refinery on the direct sale of its petrol to our members and the price template.
“Our petrol price will be cheaper than that of NNPC Retail price if Dangote Refinery sells petrol to us.
“Because we are buying from the same source, the fee NNPC puts on top before selling to marketers will be cut off.
“We are not government workers, we don’t earn salaries, our profits emerge from turnovers.
“We are hoping we have a meeting with Dangote Refinery Tomorrow (Tuesday) or soon.”
