The Independent Petroleum Marketers Association of Nigeria (IPMAN) has announced plans to meet with Dangote Refinery this week to discuss direct procurement of Premium Motor Spirit (PMS), commonly known as petrol, and explore potential price reductions.
IPMAN spokesperson, Chief Chinedu Ukadike, shared this update in a recent statement, expressing optimism among members about the imminent start of direct petrol lifting from Dangote Refinery.
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EKO HOT BLOG reports that Ukadike acknowledged that despite Dangote’s efforts to distribute petrol, challenges persist in the nation’s oil and gas industry.
“A meeting is scheduled for this week between Dangote and IPMAN. We are pleased that Dangote is considering involving more stakeholders in the distribution of its products. It has begun distributing to major marketers, and we are hopeful that independent marketers will be included soon,” he said.
This development comes as petrol prices at retail outlets of the Nigerian National Petroleum Company Limited and various independent filling stations range between ₦950 and ₦1,100 per litre, depending on location, following Dangote’s petrol distribution.
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Meanwhile, the Crude Oil Refiners Association of Nigeria (CORAN) has urged the Nigerian Government to establish a fixed foreign exchange rate of ₦1000 per dollar, aiming to reduce the price of petrol from Dangote Refinery to below ₦600 per litre.
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