The Dangote Refinery is set to begin distributing its much-anticipated Premium Motor Spirit (PMS), commonly known as petrol, to Nigerian marketers by Sunday, September 15th.
Sources indicate that marketers have already been instructed to dispatch their trucks to the Lagos-based refinery to facilitate the lifting process.
This move is expected to significantly enhance Nigeria’s fuel supply, reduce reliance on imported fuel, and ease the challenges faced by consumers.
The initial daily allocation of 25 million liters of refined petrol will be distributed via the Nigerian National Petroleum Company (NNPC) Trading Limited.
Despite the entry of Dangote’s petrol into the market, fuel prices are not expected to change immediately.
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has expressed willingness to buy petrol from the Dangote Refinery, provided the price is lower than current alternatives.
According to IPMAN President, Abubakar Maigandi, they are ready to patronize the refinery but are awaiting price details. He emphasized that if Dangote’s fuel is cheaper, there is no reason for marketers to boycott it, contrary to previous claims by Dangote Industries’ Vice President, Edwin Devakumar, who suggested that local marketers were not showing interest in the refinery’s products despite lower prices.
IPMAN currently purchases fuel from the NNPCL at an average of ₦875 per liter and sells it at ₦930 to ₦940 per liter, depending on the supply chain.
Maigandi affirmed that they would gladly switch to buying from Dangote Refinery if it offers more competitive prices.