Politics
Mrs. Dangote Refinery Petrol Becomes Preferred Choice As Depots Hike Fuel Prices
The Independent Marketers Association of Nigeria (IPMAN) has announced a shift in allegiance to Dangote Petroleum Refinery following a 4.7 per cent increase in the depot price of Premium Motor Spirit (PMS), commonly known as petrol, which has risen to ₦950 per litre from ₦907 last Friday.....KINDLY READ THE FULL STORY HERE▶
This surge is attributed to the rising cost of crude oil, which has climbed to $80 per barrel this week, up from $73 per barrel the previous week.
Chinedu Ukadike, the Public Relations Officer of IPMAN, confirmed this change in allegiance to journalists, stating that members are being encouraged to procure supplies directly from Dangote Refinery, highlighting the need to move away from reliance on depot owners.
“We have urged our members to purchase from Dangote Refinery. We cannot continue depending on depot owners for our products, especially when we can buy directly from the refinery.
“The minimum quantity to buy from Dangote Refinery is two million litres at ₦909 per litre. We can also purchase from MRS, which also distributes Dangote refinery petrol,” Ukadike told Vanguard in an interview.
Alhaji Garima, the National President of IPMAN, explained the situation: “Our members still buy from the Nigerian National Petroleum Company Limited (NNPCL) at ₦899.50 per litre. For now, the portal to purchase the product is closed. We source a large volume of products from the Dangote/MRS arrangement as it is more cost-effective.
“Although some of our members still buy from private depots, we have advised them that the Dangote arrangement is the best. Many also patronize MRS due to the incentives the company offers.
“For instance, if a marketer buys the product from Lagos and transports it to Kano, MRS can sell at ₦850 per litre. That’s why some marketers who obtain MRS petrol can sell at ₦935 per litre.”
He added: “However, we advise our members to collaborate and pool resources together to buy directly from Dangote Refinery. The Federal Government is no longer subsidizing petrol, which explains why petrol prices are no longer fixed as they used to be.”
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