The Dangote Petroleum Refinery has committed to providing the Independent Petroleum Marketers Association of Nigeria with 60 million litres of petrol every week, or 240 million litres each month.
According to information obtained by the association, the refinery committed to providing 60 million litres of PMS each week to IPMAN members, contingent on patronage.
This occurred when it was learnt that the $20 billion refinery in Lekki is trying to raise billions of dollars to boost production and import crude oil.
Oil dealers also reported on Sunday that petrol prices were dropping as a result of the competition brought about by the sector’s deregulation, particularly because the Nigerian National Petroleum Company Limited and other marketers imported more than two billion litres of PMS in 42 days.
In an interview with The PUNCH, IPMAN National Publicity Secretary Chinedu Ukadike emphasised that independent marketers were responsible for distributing the majority of the fuel imported into the nation and stated that members of the association could lift any amount of PMS that was assigned to them by the Dangote refinery.
As you might recall, the organisation recently declared that it had reached a deal with Dangote to remove PMS straight from the refinery, without an intermediary.
Decline in Petrol Price
Due to the competition created by the downstream sector’s deregulation, IPMAN and major marketers have agreed that fuel pump prices have begun to decline in numerous areas.
The deal between IPMNAN and Dangote is progressively lowering the price of PMS, according to the IPMAN spokesperson.
