The Independent Petroleum Marketers Association of Nigeria (IPMAN) will meet with Dangote Refinery this week to discuss direct petrol lifting and potential price reductions. The collaboration aims to enhance petrol distribution and address supply challenges, with the hope of improving affordability for consumers across Nigeria.
The Independent Petroleum Marketers Association of Nigeria (IPMAN) is scheduled to meet with Dangote Refinery this week to discuss direct lifting of Premium Motor Spirit (petrol) and potential price reductions. Chief Chinedu Ukadike, IPMAN's spokesperson, expressed optimism about initiating direct petrol distribution from Dangote soon.
Despite the refinery's efforts to distribute petrol, challenges related to adequate supply continue to affect Nigeria’s oil and gas sector. Ukadike emphasized that although Dangote has started collaborating with major marketers, there is hope that independent marketers will eventually gain access to the refinery's products.
Currently, petrol prices at various filling stations across Nigeria range from ₦950 to ₦1,100 per litre, varying by location. This pricing trend follows the recent lifting of Dangote fuel. Additionally, the Crude Oil Refiners Association of Nigeria (CORAN) has called on the federal government to set the foreign exchange rate at ₦1,000 per dollar, to reduce Dangote Refinery's petrol price to below ₦600 per litre.
The upcoming meeting represents a significant move towards enhancing petrol distribution and affordability in Nigeria. This collaboration between IPMAN and Dangote Refinery could lead to improvements in supply logistics and pricing, benefiting consumers in the long run as the fuel market stabilizes.
