Fuel Price Increase: Marketers Demand Actual Price as Condition to Buy Dangote Petrol

As the controversy over the actual price of Dangote Refinery Petrol continues, the Petroleum marketers in Nigeria have stated that they were yet to decide the next line of action over the pricing as released by the Nigerian National Petroleum Company Limited (NNPCL) on Monday, September 16, 2024.

The petroleum marketers demanded that Dangote Refinery reveal the price it sold petrol to NNPCL for transparency.

The President of the Petroleum Products Retail Outlets Owners Association, PETROAN, Billy Gillis-Harry, and the President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Abubakar Maigandi, made this demand in a separate interview with DAILY POST on Monday, September 16, 2024.

Recall Dangote Refinery commenced the first distribution of Petrol at the weekend with NNPCL as an official off-taker. NNPCL had revealed that Dangote Refinery sold petrol to them at N898 per liter.

However, Dangote Group faulted NNPCL but did not disclose the actual price it sold its inaugural petrol. This development resulted in a petrol price controversy which further compounded the crisis in the sector.

In his reaction, PETROAN President, Gillis-Harry called for total transparency in the oil and gas sector. He stated that Dangote Refinery needs to come open to stakeholders on the exact price of its petrol as a prerequisite for marketers to purchase the product.

“Dangote Refinery should tell us what price it is selling its petrol since NNPCL has given its selling price.

“We should be able to know exactly what price that is coming from Dangote Refinery Petrol to us. We should know how NNPCL will deal with us. As it is now, we are standing in limbo”, he told DAILY POST.

When asked whether marketers would look to importation amid the cost of Dangote Refinery Petrol, Gillis-Harry said, ” Dangote Refinery is producing about 25 million liters a day. That is just about 15,000 metric tonnes which is less than one cargo.

“And NNPCL has been selling so many cargoes to depot owners, including our members, to distribute to Nigerians previously.

“What it means is that we’re not going to be dependent on the petrol product that is produced in-country. There must be a level of importation to make up for the difference.”

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