The Independent Petroleum Marketers Association of Nigeria (IPMAN) has revealed that the price of petrol from the Dangote Refinery is N940 per litre when purchased via ships and N990 per litre when transported by trucks.
The association also announced that over 30,000 of its members are ready to buy Premium Motor Spirit (PMS), commonly known as petrol, in bulk from the $20 billion Lekki-based refinery.
With the new agreement to begin direct product lifting from the Dangote refinery, there are expectations that independent marketers may no longer need to import petrol.
In an interview on Channels Television on Tuesday, IPMAN President Abubakar Garima stated that petrol prices at retail outlets would decrease following the deal with the Dangote refinery.
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Providing further details on pricing, Garima explained that the refinery is offering two different rates for marketers based on their transportation preferences.
Marketers can purchase at N990 per litre if they opt to use trucks, or at N940 per litre if they choose vessel transportation.
Garima said, “Presently, we have been given two different arrangments on how to buy fuel from the refinery. There is the one that we can load the vessels and carry to our various depots at the rate of N940 per litre. Then for the depots, it is at the rate of N990 per litre.
“The difference is because we have to load it and carry it to another part of the state. We use vessels to carry these products and there is another one to load from the gantry.
“For Port Harcourt, Warri, Calabar, we have to use vessels because there is no Dangote loading gantry there, we have to carry it to our private depot and discharge and distribute it to our members.”
Reports indicate that the new price from the Dangote Refinery is lower than the N960 and N990 per litre previously quoted for ships and trucks last week.
IPMAN President, Abubakar Garima, highlighted that the collaboration with the refinery aims to ensure a steady and affordable supply of Premium Motor Spirit (PMS) and other petroleum products across the country.
Garima also projected that the price of petrol could drop by N50 or more, depending on the location of purchase.
On Monday, IPMAN reached an agreement with the Dangote refinery to directly lift petrol, diesel, and other petroleum products.
This agreement comes after months of uncertainty following the Nigerian National Petroleum Corporation’s decision to halt its plan to be the sole off-taker for products from the 650,000 barrels per day refinery.
Garima explained that the Dangote refinery is now allowing marketers to directly lift PMS, AGO, and DPK for distribution to their depots and retail outlets, though the exact price for these products was not disclosed.
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