Oil marketers have reassured Nigerians that the price of Premium Motor Spirit (PMS), or petrol, is expected to decrease once they begin direct lifting of products from the Dangote Refinery.
This assurance follows a surge in petrol prices after the state oil company, NNPCL, commenced product lifting from the refinery.
Currently, petrol prices have soared to ₦950 per litre in Lagos and over ₦1000 per litre in northern regions.
Chinedu Ukadike, spokesperson for the Independent Petroleum Marketers Association of Nigeria (IPMAN), stated during an appearance on Channels Television’s Morning Brief on Tuesday that marketers are in discussions with the refinery regarding the possibility of direct petrol lifting.
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He said, “It is just very simple. It shows that the libralisation of the market is on course, because there is no way Dangote refinery will be producing petrol in Nigeria without considering IPMAN as one of its strategic stakeholders.
“We were even thinking that one of his first points of call was to discuss with IPMAN and not NNPCL, because we can distribute every single drop of products produced by Dangote refinery because we are situated in every nook and cranny of this country. We also possess about 85 per cent of filling stations in Nigeria.
“So, it is pertinent that Dangote should discuss this with independent marketers, and I want you to know that immediately after we discuss and commence direct lifting of product from Dangote, the issue of pricing and differential in pricing will be gone. What we are seeing here is price disparity.
“But if IPMAN becomes independent, prices will drop. Because it will give us the opportunity for possible competition because we will no longer be depending on another source to get products.
“Dangote also opened up to IPMAN when he started producing AGO, diesel. We entered the market and started buying it, and prices of AGO came down. it was around N1600, now it is between N1000 to N1100.
“This is a deregulated economy, and every stakeholder and player should be given equal opportunity.”
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