The Dangote Petroleum Refinery has clarified that it has yet to receive approval from the Nigerian National Petroleum Company Limited (NNPC) to distribute Premium Motor Spirit (PMS), commonly referred to as petrol, to members of the Independent Petroleum Marketers Association of Nigeria (IPMAN). This announcement came on Thursday, as the Petroleum Retail Outlet Owners Association of Nigeria (PETROAN) expressed concern over the refinery’s delay in releasing fuel prices, an issue that has persisted for some time.
On Wednesday, IPMAN’s National President, Abubakar Maigandi, reported that members had been unable to load petrol from the Lekki refinery despite a four-day wait. His response followed a recent statement by Dangote Group’s President, Alhaji Aliko Dangote, who mentioned that the refinery holds over 500 million liters of petrol, yet marketers were not engaging.
“If there truly are 500 million liters available, our members should not experience delays after four days of waiting. We are ready to purchase directly if the refinery is prepared to sell, but so far, our members have not been granted access, despite payments made,” Maigandi emphasized.
PETROAN’s National President, Billy Gillis-Harry, supported Maigandi’s statements, noting that despite efforts to arrange a supply meeting with Dangote Refinery since 2022, petrol retailers have been unable to secure any business collaboration.
In response, the Dangote Group’s Chief Branding and Communications Officer, Anthony Chiejina, issued a statement on Thursday. He clarified that the refinery has received no funds from IPMAN, as the payments were made to NNPC, which has not authorized Dangote to supply petrol to IPMAN members. The refinery reiterated that it has no direct dealings with IPMAN currently, though discussions are ongoing.
The statement, titled “IPMAN: Setting the Record Straight,” read, “Dangote Petroleum Refinery wishes to clarify that it has not received payments from IPMAN members for petroleum products. Discussions are ongoing, but it is inaccurate to say IPMAN is facing challenges loading products, as we do not yet have direct business relations with them. Payments made to other entities, such as NNPC, are outside our responsibility.”
Chiejina added that Dangote Refinery has the capacity to meet national fuel demand, with the ability to load up to 2,900 trucks daily. “We can meet demand for all petroleum products, including petrol, diesel, and aviation fuel. Currently, we are loading 2,900 trucks per day and evacuating products by sea. We advise IPMAN to register with us and make direct payments, as we have sufficient stock for their members.”
The refinery urged stakeholders to avoid making what it termed “unfounded statements” that could hinder national economic progress. “Conducting business through media speculation is counterproductive and unpatriotic. In the national interest, we encourage stakeholders to collaborate and avoid unproductive conflicts and propaganda,” the statement concluded.
Meanwhile, PETROAN has called on Dangote to announce the price of its PMS. According to PETROAN’s National Publicity Secretary, Dr. Joseph Obele, NNPC Retail in Port Harcourt sells petrol at N1,040 per liter, and a favorable price announcement from Dangote would draw significant attention. He commented, “If Dangote had announced an attractive price, it could have stimulated purchases. Marketers seek suppliers with competitive rates.”
In a related development, the Major Oil Marketers Association of Nigeria (MOMAN) reassured the public on Thursday that there is an adequate fuel supply and advised against panic buying. MOMAN’s CEO, Clement Isong, stated, “We assure the public that there are significant stocks of products in our storage and access to reserves in suppliers’ tanks, including Dangote Refinery and NNPC Trading Limited. Deregulation now allows marketers to prearrange their supply needs effectively.”
Additionally, MOMAN data revealed on Thursday that the landing cost of petrol as of October 31, 2024, stood at N978.01 per liter, while diesel was N1,069.97 per liter, and aviation fuel was N1,119.67 per liter, showing the latest unit price of imported fuel on arrival in Nigeria.
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