Concerns Raised By Marketers To Dangote On Petrol Acquisitions

Concerns Raised By Marketers To Dangote On Petrol Acquisitions
Oil marketers are expressing renewed interest in purchasing refined petroleum products from the $20 billion Dangote Petroleum Refinery, following a recent statement from Aliko Dangote, President of Dangote Group.

According to Naija News, Dangote emphasized that despite the refinery’s output, both oil marketers and the Nigerian National Petroleum Company Limited (NNPCL) continue to import fuel instead of sourcing it locally. After a meeting with President Bola Tinubu, he urged NNPCL and marketers to cease imports and buy directly from his refinery, stating, “We have the products they need,” and calling for them to come forward.

In response, representatives from the Petroleum Retail Outlet Owners Association of Nigeria (PETROAN) and the Independent Petroleum Marketers Association of Nigeria (IPMAN) expressed their readiness to purchase directly from the refinery. PETROAN President Billy Gillis-Harry noted that the association had reached out to request a meeting to discuss purchasing terms and logistics. However, despite their efforts to secure a formal meeting, discussions have yet to be finalized, leaving marketers without access to the refinery’s products. “We’re ready to patronize Dangote,” Gillis-Harry stated, but emphasized the need for a formal agreement to move forward.

IPMAN’s National President Abubakar Maigandi shared similar concerns, revealing that despite having paid N40 billion through NNPCL for fuel from the refinery, members experienced delays in loading products, with some trucks waiting up to four days. Dangote has reassured that the refinery can meet local demand, having enough reserves to supply the country for over 12 days without imports. Nevertheless, IPMAN argues that direct dealings with independent marketers would help streamline access and reduce these delays.

Currently, it appears that the Dangote refinery is prioritizing sales to marketers with import licenses, likely due to its location within a free trade zone. Marketers without these licenses, including IPMAN members, are waiting for approvals from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to commence their own direct purchases. IPMAN Vice President Hammed Fashola indicated that their application process for the import license is ongoing, with all necessary documentation for storage capacity submitted.

Once granted, Fashola assured that IPMAN would provide further operational details to the public.

For more information on this article and other related posts from Bushradiogist, please join our WhatsApp channel by clicking this link https://whatsapp.com/channel/0029VaUumOODTkK7AZL1Fw3o. For advertisement inquiries only, kindly send a message to 090 1907 0863 on WhatsApp.