Petrol Price Hike: Marketers Turn To Dangote For Bulk Procurement Solutions

Petrol Price Hike: Marketers Turn To Dangote For Bulk Procurement SolutionsOil marketers have formally expressed their intent to purchase refined petroleum products from the Dangote Petroleum Refinery, following recent comments from Aliko Dangote regarding the low engagement from marketers. This communication comes in the wake of a price hike in petrol that has left many struggling.

During a meeting with President Bola Tinubu, Dangote highlighted the ongoing importation of petrol by marketers and the Nigerian National Petroleum Company Limited (NNPCL) despite the refinery’s capacity to supply the market. He urged retailers to come forward for supplies, emphasizing his role as a producer rather than a retailer.

In response, representatives from the Petroleum Retail Outlet Owners Association of Nigeria (PETROAN) and the Independent Petroleum Marketers Association of Nigeria (IPMAN) reiterated their readiness to engage with the refinery but noted the necessity for a formal meeting to establish a clear procurement process.

PETROAN President, Billy Gillis-Harry, mentioned that despite previous attempts to initiate dialogue since 2022, there has been no positive engagement from Dangote’s team. He emphasized the importance of a transparent meeting to discuss logistics and operational modalities before any purchases could commence.

IPMAN President, Abubakar Maigandi, raised concerns about accessibility, citing delays faced by his members in loading fuel from the refinery despite significant payments made through NNPCL. He questioned the efficacy of the supply process and suggested that direct registration with independent marketers could streamline operations.

Furthermore, reports indicate that the refinery is currently prioritizing sales to dealers holding valid import licenses, which has led to frustrations among other marketers eager to access products.

As the Dangote refinery boasts a capacity to produce over 30 million liters of fuel daily, the situation underscores the urgent need for effective collaboration between the refinery and marketers to stabilize fuel supply in the country.

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